Bill Text: IL SB3181 | 2013-2014 | 98th General Assembly | Amended
Bill Title: Amends the Illinois Income Tax Act. Makes a technical change in a Section concerning the short title.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Failed) 2015-01-13 - Session Sine Die [SB3181 Detail]
Download: Illinois-2013-SB3181-Amended.html
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1 | AMENDMENT TO SENATE BILL 3181
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2 | AMENDMENT NO. ______. Amend Senate Bill 3181 by replacing | ||||||
3 | everything after the enacting clause with the following:
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4 | "Section 5. The State Finance Act is amended by adding | ||||||
5 | Sections 5.855 and 5.856 as follows:
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6 | (30 ILCS 105/5.855 new) | ||||||
7 | Sec. 5.855. The Oil and Gas Impact Fund.
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8 | (30 ILCS 105/5.856 new) | ||||||
9 | Sec. 5.856. The Permanent Fossil Fuels Fund.
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10 | Section 10. The Illinois Hydraulic Fracturing Tax Act is | ||||||
11 | amended by changing Section 2-75 as follows:
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12 | (35 ILCS 450/2-75)
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13 | Sec. 2-75. Distribution of proceeds. |
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1 | (a) The Oil and Gas Impact Fund and the Permanent Fossil | ||||||
2 | Fuels Fund are hereby created as special funds in the State | ||||||
3 | treasury. | ||||||
4 | (b) All moneys received by the Department under this Act | ||||||
5 | shall be paid into the Oil and Gas Impact Fund paid into the | ||||||
6 | General Revenue Fund in the State treasury .
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7 | (c) Each month, the State Comptroller shall order | ||||||
8 | transferred and the State Treasurer shall transfer from the Oil | ||||||
9 | and Gas Impact Fund to the Permanent Fossil Fuels Fund an | ||||||
10 | amount equal to 5% of the moneys received by the Department | ||||||
11 | under this Act during the immediately preceding month. In each | ||||||
12 | State fiscal year, an amount equal to 5% of the accumulated | ||||||
13 | principal amount available in the Permanent Fossil Fuels Fund | ||||||
14 | on the last day of the immediately preceding State fiscal year | ||||||
15 | shall be used to supplement other funds appropriated for the | ||||||
16 | following programs: | ||||||
17 | (1) 50% of that money shall be used by the Department | ||||||
18 | of Commerce and Economic Opportunity to make grants and | ||||||
19 | provide other support for renewable energy projects, as | ||||||
20 | defined by the Illinois Power Agency Act, and workforce | ||||||
21 | training programs for renewable energy industries; in | ||||||
22 | awarding grants and other support for renewable energy | ||||||
23 | projects using these funds, the Department of Commerce and | ||||||
24 | Economic Opportunity shall give priority to applications | ||||||
25 | for viable projects in counties from which revenues have | ||||||
26 | been received under this Act; and |
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1 | (2) 50% of that money shall be used by the Department | ||||||
2 | of Natural Resources to support the acquisition, | ||||||
3 | management, and restoration of conservation lands; the | ||||||
4 | Department of Natural Resources shall give first priority | ||||||
5 | to viable acquisition, management, and restoration | ||||||
6 | projects in counties from which revenues have been received | ||||||
7 | under this Act. | ||||||
8 | The remainder of the moneys in the Permanent Fossil Fuels | ||||||
9 | Fund shall be invested, and earnings on the investments shall
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10 | be retained in the Fund. | ||||||
11 | (d) The remaining moneys in the Oil and Gas Impact Fund | ||||||
12 | shall be used, subject to appropriation, by the Department of | ||||||
13 | Natural Resources for any of the following purposes: | ||||||
14 | (1) remediation of legacy oil, gas, and abandoned well | ||||||
15 | plugging and reclamation projects; | ||||||
16 | (2) reclamation and remediation of drilling sites and | ||||||
17 | legacy pollution problems from drilling sites; | ||||||
18 | (3) costs associated with enforcement, monitoring, | ||||||
19 | data collection, and other costs of implementing and | ||||||
20 | enforcing oil and gas statutes; or | ||||||
21 | (4) costs associated with inspection, detection, and | ||||||
22 | repair of leaks in gas pipelines or other infrastructure. | ||||||
23 | (e) Within 30 days after the end of the lapse period for | ||||||
24 | each State fiscal year, the State Comptroller shall order | ||||||
25 | transferred and the State Treasurer shall transfer from the Oil | ||||||
26 | and Gas Impact Fund to the Permanent Fossil Fuels Fund any |
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1 | unobligated and unexpended moneys remaining in the Oil and Gas | ||||||
2 | Impact Fund from the previous fiscal year. | ||||||
3 | (f) The moneys deposited into the Oil and Gas Impact Fund | ||||||
4 | and the Permanent Fossil Fuels Fund under this Section shall | ||||||
5 | not be subject to sweeps, borrowing, administrative charges or | ||||||
6 | chargebacks, or other uses not specified by this Section. | ||||||
7 | (Source: P.A. 98-22, eff. 6-17-13.)".
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