Comments: IL HB5748 | 2017-2018 | 100th General Assembly
Bill Title: Amends the Illinois Hydraulic Fracturing Tax Act. Provides that the tax rate for the severance and production of oil or gas shall be 1.5% (rather than 3%) of the value of the oil or gas. Provides that for oil the tax shall be: (i) 1.5% of the value of the oil (rather than 3%) where the average daily production from the well in a month is less than 25 barrels; (ii) 2% of the value of the oil (rather than 4%) where the average daily production from the well in a month is between 25 barrels and 50 barrels; (iii) 2.5% of the value of the oil (rather than 5%) where the average daily production from the well in a month is between 50 barrels and 100 barrels; and (iv) 3% of the value of the oil (rather than 6%) where the average daily production from the well in a month is 100 barrels or more. Provides that for gas the tax shall be 3% (rather than 6%) of the value of the gas. Amends the Hydraulic Fracturing Regulatory Act. Deletes language stating that every applicant for a high volume horizontal hydraulic fracturing permit shall include a traffic management plan on his or her application.
Spectrum: Moderate Partisan Bill (Republican 7-1)
Status: (Failed) 2019-01-08 - Session Sine Die [HB5748 Detail]
Text: Latest bill text (Introduced) [HTML]
Spectrum: Moderate Partisan Bill (Republican 7-1)
Status: (Failed) 2019-01-08 - Session Sine Die [HB5748 Detail]
Text: Latest bill text (Introduced) [HTML]
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