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| | 101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB4117 Introduced 1/16/2020, by Rep. Charles Meier SYNOPSIS AS INTRODUCED:
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Amends the Illinois Hydraulic Fracturing Tax Act. Provides that moneys received under the Act shall be used only for the payment of pension obligations of the State of Illinois. Effective immediately.
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| | | FISCAL NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| | HB4117 | | LRB101 15954 HLH 65315 b |
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| 1 | | AN ACT concerning revenue.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Illinois Hydraulic Fracturing Tax Act is |
| 5 | | amended by changing Section 2-75 as follows:
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| 6 | | (35 ILCS 450/2-75)
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| 7 | | Sec. 2-75. Distribution of proceeds. All moneys received by |
| 8 | | the Department under this Act shall be paid into the General |
| 9 | | Revenue Fund in the State treasury and shall be used only for |
| 10 | | the payment of pension obligations of the State of Illinois.
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| 11 | | (Source: P.A. 98-22, eff. 6-17-13.)
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| 12 | | Section 99. Effective date. This Act takes effect upon |
| 13 | | becoming law.
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