IL SB1458

Creates an Office of Oil and Gas Resource Management within the Department of Natural Resources to manage oil and gas regulatory functions previously handled by the Department of Mines and Minerals.

Renames the "Mines and Minerals Regulatory Fund" to the "Oil and Gas Resource Management Fund" and directs revenues from hydraulic fracturing permits and bond forfeitures into this fund to support oil and gas regulatory operations.

Requires hydraulic fracturing permit applicants to pay a non-refundable fee of $13,500, with $11,000 deposited into the Oil and Gas Resource Management Fund and $2,500 into the Illinois Clean Water Fund.

Maintains existing hydraulic fracturing permit requirements including $50,000 per permit or $500,000 blanket bonds, $5,000,000 pollution liability insurance, and detailed technical submissions covering well design, chemical disclosures, water management, and safety plans.

Investment income earned by moneys in the Oil and Gas Resource Management Fund shall be retained in the fund for oil and gas regulatory operations and enforcement.