Illinois General Assembly - Bill Status for HB5889
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 Bill Status of HB5889  97th General Assembly


Short Description:  OIL GAS LEASING

House Sponsors
Rep. David Reis

Last Action
DateChamber Action
  1/8/2013HouseSession Sine Die

Statutes Amended In Order of Appearance
New Act


Synopsis As Introduced
Creates the Oil and Gas Leasing Act. Provides that the purpose of the Act is to clarify the rights of joint owners of oil and gas in this State, to promote and preserve the value of oil and gas reserves in the State, and to maximize the recovery of oil and gas through the orderly and efficient development of oil and gas reserves for the benefit of all joint owners in a fair and equitable manner. Provides definitions. Includes provisions concerning venue of an action seeking to impress a trust upon an oil and gas interest for the purpose of leasing and developing it, joint ownership of a freehold interest in an oil and gas estate, declaration of a trust in oil or gas land and the powers and duties of a trustee, court procedures, oil and gas leases, payments under an oil and gas lease, and construction of the Act. Effective immediately.

Actions 
DateChamber Action
  2/16/2012HouseFiled with the Clerk by Rep. David Reis
  2/16/2012HouseFirst Reading
  2/16/2012HouseReferred to Rules Committee
  2/27/2012HouseAssigned to Judiciary I - Civil Law Committee
  3/9/2012HouseRule 19(a) / Re-referred to Rules Committee
  1/8/2013HouseSession Sine Die

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