2005 Illinois Code - Chapter 225 Professions And Occupations 225 ILCS 728/ Illinois Petroleum Education and Marketing Act.
(225 ILCS 728/1) (Section scheduled to be repealed on January 1, 2008) Sec. 1. Short title. This Act may be cited as the
Illinois Petroleum Education and Marketing Act. (Source: P.A. 90‑614, eff. 7‑10‑98.)
(225 ILCS 728/5) (Section scheduled to be repealed on January 1, 2008) Sec. 5. Definitions. As used in this
Act: "Board" means the Illinois Petroleum Resources
Board. "Interest owner" means a person who owns or possesses an interest in the
gross production of oil or gas produced from a well in Illinois. "Person" means an individual, group of individuals, partnership,
corporation, association, limited liability company, cooperative,
or any other entity or an employee of the entity. "Producer" means a person who produces oil and gas or who derives a majority
of his or her oil and gas income from working interest. "Qualified producer association" means an entity that is organized and
operating within the State and that represents oil producers on a Statewide
basis. (Source: P.A. 92‑610, eff. 7‑1‑02.)
(225 ILCS 728/10) (Section scheduled to be repealed on January 1, 2008) (Text of Section from P.A. 92‑610) Sec. 10. Illinois Petroleum Resources Board. (a) There is hereby created until January 1, 2008, the Illinois Petroleum
Resources Board which shall be subject to the provisions of the Regulatory
Agency Sunset Act. The purpose of the Board is to coordinate a program
designed to demonstrate to the general public the
importance of the Illinois oil exploration and production industry, to
encourage the wise and efficient use of energy, to promote environmentally
sound production methods and technologies, to develop existing supplies of
State oil resources, and to support research and educational activities
concerning the oil exploration and production industry. (b) The Board shall be composed of 12 members to be
appointed by the Governor. The Governor shall make appointments from a
list of names submitted by qualified producer associations, of which 10 shall
be oil and gas producers. (c) A member of the Board shall: (1) be at least 25 years of age; (2) be a resident of the State of Illinois; and (3) have at least 5 years of active experience in
the oil industry.
(d) Members shall serve for a term of 3 years, except that of the initial
appointments, 4 members shall serve for one year, 4 members for 2 years, and 4
members for 3 years. (e) Vacancies shall be filled for the unexpired term of office in the same
manner as the original appointment. (f) The Board shall, at its first meeting, elect one of its members as
chairperson, who shall preside over meetings of the Board and perform
other duties that may be required by the Board. The first meeting of the Board
shall be called by the Governor. (g) No member of the Board shall receive a salary or reimbursement for
duties performed as a member of the Board, except that members are eligible to
receive
reimbursement for travel expenses incurred in the performance of Board duties. (Source: P.A. 92‑610, eff. 7‑1‑02.) (Text of Section from P.A. 92‑651) Sec. 10. Illinois Petroleum Resources Board. (a) There is hereby created until July 1, 2002, the Illinois Petroleum
Resources Board which shall be subject to the provisions of the Regulatory
Sunset Act. The purpose of the Board
is to coordinate a program designed to demonstrate to the general public the
importance of the Illinois oil exploration and production industry, to
encourage the wise and efficient use of energy, to promote environmentally
sound production methods and technologies, to develop existing supplies of
State oil resources, and to support research and educational activities
concerning the oil exploration and production industry. (b) The Board shall be composed of 12 members to be
appointed by the Governor. The Governor shall make appointments from a
list of names submitted by qualified producer associations, of which 10 shall
be oil and gas producers. (c) A member of the Board shall: (1) be at least 25 years of age; (2) be a resident of the State of Illinois; and (3) have at least 5 years of active experience in
the oil industry.
(d) Members shall serve for a term of 3 years, except that of the initial
appointments, 4 members shall serve for one year, 4 members for 2 years, and 4
members for 3 years. (e) Vacancies shall be filled for the unexpired term of office in the same
manner as the original appointment. (f) The Board shall, at its first meeting, elect one of its members as
chairperson, who shall preside over meetings of the Board and perform
other duties that may be required by the Board. The first meeting of the Board
shall be called by the Governor. (g) No member of the Board shall receive a salary or reimbursement for
duties performed as a member of the Board, except that members are eligible to
receive reimbursement for travel expenses incurred in the performance of Board
duties. (Source: P.A. 90‑614, eff. 7‑10‑98; revised 1‑9‑02; 92‑651, eff. 7‑11‑02.)
(225 ILCS 728/15) (Section scheduled to be repealed on January 1, 2008) Sec. 15. Board powers and duties. The Board shall have the following powers and duties: (1) To administer and enforce the provisions of this
Act.
(2) To establish an office for the Board within the
State of Illinois.
(3) To elect a chairperson and any other officers
that may be necessary to direct the operations of the Board.
(4) To employ personnel as shall be deemed necessary
to carry out the purpose and provisions of this Act and to prescribe their duties and fix their compensation.
(5) To administer the Petroleum Resources Revolving
Fund.
(6) To approve or disapprove the budget of the Board. (7) To adopt rules as it deems necessary to carry
out the provisions of this Act.
(8) To enter into contracts or agreements for
studies, research projects, experimental work, supplies, or other services to carry out the purposes of this Act and to incur those expenses necessary to carry out those purposes. A contract or agreement entered into under this item shall provide that:
(A) the person entering the contract or
agreement on behalf of the Board shall develop and submit to the Board a plan or project together with a budget that shows estimated costs to be incurred for the plan or project; and
(B) the person entering the contract or
agreement shall keep accurate records of all of its transactions, account for funds received and expended, and make periodic reports to the Board of activities conducted and other reports that the Board may require.
(9) To keep accurate records of all financial
transactions performed pursuant to this Act. These records shall be audited annually by an independent auditor and an annual report shall be compiled and presented to the Governor.
(10) To cooperate with any private, local, state, or
national commission, organization, agency, or group and to make contracts and agreements for joint programs beneficial to the oil industry.
(11) To accept donations, grants, contributions, and
gifts from any public or private source and deposit them into the Petroleum Resources Revolving Fund.
(12) To keep an accurate record of all assessments
collected.
(Source: P.A. 90‑614, eff. 7‑10‑98.)
(225 ILCS 728/20) (Section scheduled to be repealed on January 1, 2008) Sec. 20. Board meetings; appointment of Director. (a) There shall be an annual meeting of the Board at which the annual report
and proposed budget will be presented. The Board shall, at the call of the
chairperson, hold at least 3 other regular meetings each year. The
chairperson shall establish the time, manner, and place for all meetings and
shall provide notice of the meetings. A majority of
the members of the Board shall constitute a quorum for the transaction of any
Board business. In addition, the Board shall determine the circumstances under
which
additional meetings of the Board may be held. (b) The Board may appoint a Director who shall carry out the provisions of
this Act. The Director shall not be one of the appointed Board members. (Source: P.A. 90‑614, eff. 7‑10‑98.)
(225 ILCS 728/25) (Section scheduled to be repealed on January 1, 2008) Sec. 25. Petroleum Resources Revolving Fund. There is hereby created in the State Treasury a special fund
to be designated the "Petroleum Resources
Revolving Fund". The Fund shall be a continuing fund, not subject to fiscal
year limitations and shall consist of all moneys received by the Illinois
Petroleum Resources Board from assessments received and collected pursuant to
Section 30 of this Act and donations, grants, contributions, and gifts from any
public or private source. Pursuant to appropriation, the Board may expend
funds
as provided for by law.
Expenditures from the Fund shall be made upon warrants issued by the State
Comptroller against claims filed as prescribed by law. (Source: P.A. 90‑614, eff. 7‑10‑98.)
(225 ILCS 728/30) (Section scheduled to be repealed on January 1, 2008) Sec. 30. Assessment on oil and gas production. (a) To fund the activities of the Illinois Petroleum Resources Board, an
assessment shall be levied in the amount of one‑tenth of 1% of gross
revenues of oil and gas produced from each well in the State of Illinois. (b) The assessment levied by subsection (a) of this Section shall be
deducted
from the proceeds of production and collected by the first purchaser. The
assessment, which is imposed on the interest owner, shall
be remitted to the Department of Revenue by the first purchaser on a tax return
filed no later than the 15th day of each month following the end of the month
in which the assessment was collected. To
defray the costs of receiving and depositing the assessments levied by this
Section, the Department of Revenue shall retain $750 per month of the
assessments received for deposit into the Tax Compliance and
Administration Fund. The remaining moneys received by the Department of
Revenue pursuant to this Section shall be deposited into the Illinois Petroleum
Resources Revolving Fund. (c) The Board shall be responsible for taking appropriate legal actions to
collect any assessment which is not paid or is not properly paid. (Source: P.A. 92‑610, eff. 7‑1‑02.)
(225 ILCS 728/35) (Section scheduled to be repealed on January 1, 2008) Sec. 35. Refunds. (a) Any person subject to the assessment levied by Section 30 of this Act
may request a refund as provided in this Section of the assessment paid on
production for the preceding calendar year. Upon compliance with the
provisions of this Section and rules adopted by the Board to implement this
Section, the Board shall refund to each person requesting a refund the
amount of the assessment paid by or on behalf of the person during the
preceding calendar year. Refunds made to producers will include interest
earned at the
rate equal to the average United States Treasury bill rate of the preceding
calendar year as certified by the State Treasurer. (b) The request for a refund of the assessment paid on production for the
preceding calendar year must be made during the first 3 calendar months
following the calendar year for which the refund is requested. Failure to
request a refund during this period shall terminate the right of any person to
receive a refund for the assessment paid on production for the preceding
calendar year. The Board shall give notice of the availability of the refund
through press releases or another means it deems appropriate. (c) Each person requesting a refund shall execute an affidavit showing the
amount of refund requested and demonstrating that the affiant was the
interest owner of
the production for
which the refund is requested. The Board may verify the accuracy of the
request for refund. (d) No entity or person requesting a refund under this Section shall be
eligible to serve or have a representative serve as a member of the Board. (Source: P.A. 92‑610, eff. 7‑1‑02.)
(225 ILCS 728/45) (Section scheduled to be repealed on January 1, 2008) Sec. 45. Use of funds. (a) All interest earned on moneys in the Petroleum Resources Revolving Fund
shall remain in the Fund. (b) The Board shall not utilize any funds collected
under Section 30 of this Act for the purpose of
influencing government action or policy, with the exception of recommending
amendments to this Act. (Source: P.A. 90‑614, eff. 7‑10‑98.)
(225 ILCS 728/50) (Section scheduled to be repealed on January 1, 2008) Sec. 50. Application of Act. Nothing in this Act may be construed to preempt or supersede any
other program relating to oil and gas promotion or marketing organized and
operated under the laws of the State of Illinois or the United States.
In the event of the establishment of a national
program for an assessment on oil and natural gas production, the Board by
majority vote, may elect to designate up to a maximum of 50% of the funds
collected under this Act to the national program in lieu of an additional
assessment as may be required by the national program. (Source: P.A. 90‑614, eff. 7‑10‑98.)
(225 ILCS 728/70) (Section scheduled to be repealed on January 1, 2008) Sec. 70. (Amendatory provisions; text omitted). (Source: P.A. 90‑614, eff. 7‑10‑98; text omitted.)
(225 ILCS 728/80) (Section scheduled to be repealed on January 1, 2008) Sec. 80. (Amendatory provisions; text omitted). (Source: P.A. 90‑614, eff. 7‑10‑98; text omitted.)
(225 ILCS 728/99) (Section scheduled to be repealed on January 1, 2008) Sec. 99. Effective date. This Act takes effect July 1, 1998. (Source: P.A. 90‑614, eff. 7‑10‑98.)
Disclaimer: These codes may not be the most recent version. Illinois may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.