IL SB3181

Creates the Oil and Gas Impact Fund and Permanent Fossil Fuels Fund as special funds in the State treasury to receive revenues from the Illinois Hydraulic Fracturing Tax Act instead of the General Revenue Fund.

Requires monthly transfers of 5% of hydraulic fracturing tax revenues from the Oil and Gas Impact Fund to the Permanent Fossil Fuels Fund, with 5% of the accumulated principal distributed annually to renewable energy and conservation programs.

Allocates 50% of annual Permanent Fossil Fuels Fund distributions to the Department of Commerce and Economic Opportunity for renewable energy projects and workforce training, with priority given to counties generating revenues under the Act.

Allocates 50% of annual Permanent Fossil Fuels Fund distributions to the Department of Natural Resources for acquisition, management, and restoration of conservation lands, prioritizing counties that generated revenues under the Act.

Dedicates remaining Oil and Gas Impact Fund moneys to remediation of legacy oil and gas sites, drilling site reclamation, enforcement costs for oil and gas statutes, and inspection and repair of gas pipeline infrastructure.