Sec. 59.16. Carbon Dioxide Sequestration Administrative Fund.
116 words·~1 min read·
/il/chapter-415/act-5/59-16A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 59.16. Carbon Dioxide Sequestration Administrative Fund. The Carbon Dioxide Sequestration Administrative Fund is hereby created as a special fund within the State treasury to be administered by the Agency. Moneys in the fund may be used:
(1)for Agency administrative costs incurred for the regulation and oversight of
sequestration facilities during their construction, operation, and post-injection phases; and
(2)to transfer moneys to funds outlined in Sections 59.13, 59.14, and 59.15 for the
purpose of implementing and enforcing the Act.
The Fund may receive deposits of moneys made available from any source, including, but not limited to, fees, fines, and penalties collected under this Act, investment income, and moneys deposited or transferred into the Fund.