IL HB5397

Amends the Illinois Petroleum Education and Marketing Act to modify the Illinois Petroleum Resources Board composition and term limits.

Beginning July 1, 2024, board members cannot be appointed to terms exceeding 9 years of total service unless approved by a two-thirds majority vote of the qualified producer association's executive committee.

Board remains composed of 12 members appointed by qualified producer associations, with members requiring Illinois residency, age 25 or older, and 5 years of active oil industry experience.

Members serve 3-year terms with initial staggered appointments (4 members each for 1, 2, and 3 years), and board members receive no salary but may be reimbursed for travel expenses.

Section scheduled to be repealed on January 1, 2028, under the Regulatory Sunset Act.