92nd General Assembly
Summary of SB1582
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Senate Sponsors:
WEAVER AND DEMUZIO.

House Sponsors:
BLACK-NOVAK-WINKEL-TURNER,ART-PARKE

Short description: 
PETROLEUM BUSINESS ACT                                                     

Synopsis of Bill as introduced:
        Creates the Petroleum Business Education,  Safety,  and  Security      
   Act. Establishes the Petroleum Business Education, Safety, and              
   Security Council and sets out the Council's duties. Creates the             
   Petroleum Business Education, Safety, and Security Fund. Amends the         
   State Finance Act to create the Petroleum Business Education, Safety,       
   and Security Fund. Effective immediately.                                   
        SENATE AMENDMENT NO. 1.                                                
          Adds reference to:                                                   
          5 ILCS 80/4.17                                                       
        Deletes everything after the enacting clause.  Reinserts the text      
   of the introduced bill with some changes.  Defines "retail  merchant"       
   and  "security".   Changes  the  membership  of the Petroleum Business      
   Education, Safety, and Security Council.  Changes  the  date  for  the      
   annual  transfer  of  funds  into  the  Petroleum Business, Education,      
   Safety, and Security Fund to July 1, 2002. Allows  the  Department  of      
   Commerce and Community Affairs to use money from the Fund to recover a      
   necessary  and  reasonable  amount  for the administration of the Act.      
   Provides a cap of $1.5 million per year on  the  transfer  of  revenue      
   into  the Petroleum Business Education, Safety, and Security Fund from      
   the Underground Storage Tank Fund.  Amends the Regulatory Sunset  Act.      
   Provides  that  the Petroleum Business Education, Safety, and Security      
   Act  shall  have  a  sunset  date  of  January  1,  2007.    Effective      
   immediately.                                                                
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   1


   END OF INQUIRY 



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