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IL HB1143

Bill

Official Source

Status

Failed

1/7/2025

Primary Sponsor

Charles Meier

Click for details

Origin

House of Representatives

103rd General Assembly

AI Summary

  • Amends the Illinois Hydraulic Fracturing Tax Act Section 2-75 to redirect revenues from the General Revenue Fund to the State Pensions Fund
  • Requires all moneys received under the Act to be used exclusively for funding unfunded liabilities of designated State-funded retirement systems as defined in Section 8.12 of the State Finance Act
  • Removes previous language that directed hydraulic fracturing tax proceeds into the State treasury
  • Takes effect immediately upon becoming law

Legislative Description

FRACTURING TAX-PROCEEDS

Last Action

Session Sine Die

1/7/2025

Committee Referrals

Rules3/10/2023
Sales, Amusement & Other Taxes3/9/2023
Revenue & Finance3/7/2023
Rules3/1/2023
Revenue & Finance2/28/2023
Rules1/12/2023

Full Bill Text

No bill text available