HB2054 101ST GENERAL ASSEMBLY

LRB101 07712 HLH 52760 b

101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB2054

Introduced , by Rep. Charles Meier

SYNOPSIS AS INTRODUCED:

35 ILCS 450/2-75

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.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Hydraulic Fracturing Tax Act is amended by changing Section 2-75 as follows:

(35 ILCS 450/2-75)

Sec. 2-75. Distribution of proceeds. All moneys received by the Department under this Act shall be paid into the General Revenue Fund in the State treasury and shall be used only for the payment of pension obligations of the State of Illinois.

(Source: P.A. 98-22, eff. 6-17-13.)

Section 99. Effective date. This Act takes effect upon becoming law.