Bill Text: IL HB1143 | 2023-2024 | 103rd General Assembly | Introduced


Bill Title: Amends the Illinois Hydraulic Fracturing Tax Act. Provides that moneys received under the Act shall be paid into the State Pensions Fund and shall be used only for the funding of the unfunded liabilities of the designated State-funded retirement systems. Effective immediately.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced) 2023-03-16 - Added Co-Sponsor Rep. Chris Miller [HB1143 Detail]

Download: Illinois-2023-HB1143-Introduced.html


103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB1143

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 paid into the State Pensions Fund and shall be used only for the funding of the unfunded liabilities of the designated State-funded retirement systems. Effective immediately.
LRB103 04893 HLH 49903 b

A BILL FOR

HB1143LRB103 04893 HLH 49903 b
1 AN ACT concerning revenue.
2 Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4 Section 5. The Illinois Hydraulic Fracturing Tax Act is
5amended by changing Section 2-75 as follows:
6 (35 ILCS 450/2-75)
7 Sec. 2-75. Distribution of proceeds. All moneys received
8by the Department under this Act shall be paid into the State
9Pensions General Revenue Fund and shall be used only for the
10funding of the unfunded liabilities of the designated
11retirement systems, as defined in Section 8.12 of the State
12Finance Act in the State treasury.
13(Source: P.A. 98-22, eff. 6-17-13.)
14 Section 99. Effective date. This Act takes effect upon
15becoming law.
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