Bill Text: IL SB1550 | 2023-2024 | 103rd General Assembly | Introduced

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Bill Title: Amends the State Property Control Act. Provides that Marquis Carbon Injection, LLC, is granted the right to inject and sequester carbon dioxide and other greenhouse gases for fair market value consideration as set by the Director of Central Management Services, as administrator, but not to exceed $0.25 per ton, on specified real property owned by the State of Illinois and managed by the Department of Natural Resources. Specifies the Parcel Identification Numbers of the properties concerned.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2023-02-08 - Referred to Assignments [SB1550 Detail]

Download: Illinois-2023-SB1550-Introduced.html

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103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 SB1550 Introduced 2/8/2023, by Sen. Sue Rezin SYNOPSIS AS INTRODUCED:
30 ILCS 605/8.5 new
Amends the State Property Control Act. Provides that Marquis Carbon Injection, LLC, is granted the right to inject and sequester carbon dioxide and other greenhouse gases for fair market value consideration as set by the Director of Central Management Services, as administrator, but not to exceed $0.25 per ton, on specified real property owned by the State of Illinois and managed by the Department of Natural Resources. Specifies the Parcel Identification Numbers of the properties concerned.
LRB103 25153 DTM 51492 b
A BILL FOR
SB1550 LRB103 25153 DTM 51492 b
AN ACT concerning finance.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The State Property Control Act is amended by
adding Section 8.5 as follows:
(30 ILCS 605/8.5 new)
Sec. 8.5. Carbon sequestration.
(a) Notwithstanding any provision of law to the contrary,
Marquis Carbon Injection, LLC, is hereby granted the right to
inject and sequester carbon dioxide and other greenhouse gases
for fair market value consideration as set by the
Administrator, but not to exceed $0.25 per ton, in that
portion of the deep subsurface lying between the top of the Eau
Claire formation and 150 feet below the Mount Simon formation
underlying the real property owned by the State of Illinois
and managed by the Department of Natural Resources that
adjoins, is adjacent to, or is in proximity to, the privately
owned real property in Putnam County, Illinois on which the
Marquis Carbon Injection, LLC carbon sequestration project
will take place.
(b) The State Property concerned under this Section
includes:
(1) land located in Putnam County, Illinois having

SB1550 - 2 - LRB103 25153 DTM 51492 b
Parcel Identification Numbers 128050000, 128150000,
128040000, 128030000, 128070000, 128060000,
128170000,128240000, 128230000, 128220000, 128210000, and
128265000; and
(2) land located in Bureau County, Illinois having
Parcel Identification Numbers 2317200009, 2317200005,
2317200004, 2316100001, 2316100002, 2308400001,
2309300001, 2309100002, 2309200002, 2309100004,
2304300003, 2304400001, 2303300001, 2310100001,
2303400001, 2303200002, 2303100004, 1734476002,
1734300005, 2303200001, 2301100003, and 2302200002.