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

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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

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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
HB1143 LRB103 04893 HLH 49903 b
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 State
Pensions General Revenue Fund and shall be used only for the
funding of the unfunded liabilities of the designated
retirement systems, as defined in Section 8.12 of the State
Finance Act in the State treasury.
(Source: P.A. 98-22, eff. 6-17-13.)
Section 99. Effective date. This Act takes effect upon
becoming law.