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HB 4920 Illinois House · 100th Regular Session

PRINCIPAL & INCOME-OIL & GAS

Summary
Amends the Principal and Income Act. Provides that, only for oil or gas from non-coal formations held in nontrust estates and by legal tenants and remaindermen (instead of "with respect only to nontrust estates, for oil or gas from non-coal formations"), proceeds from the sale of such minerals produced and received as royalty, overriding royalty, limited royalty, working interest, net profit interest, time-limited interest or term interest, or lease bonus shall be deemed income. Deletes language providing that a Section concerning non-trust estates does not apply to life estates and remainder interests in oil or gas from non-coal formations, or royalties or overriding royalties created under leases of such minerals. Makes other changes.
Bill status signed all 5 stages cleared
Introduction
Apr 2018
Committee Review
May 2018
House Passage
May 2018
Senate Passage
May 2018
Signed into Law
Aug 2018
Introduced Apr 24, 2018 Signed Aug 10, 2018
Floor votes · Senate May 17, 2018 · House Apr 24, 2018

How they voted

47–0
Passed · 4 other
Total votes 51
May 17, 2018
D Democratic31
29 Yea 2
93% Yea
R Republican20
18 Yea 2
90% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
32
Key actions
9
Committee
9
Aug 10, 2018
Signed into law
Governor Approved
lower
May 17, 2018
Lower · Passed
Passed Both Houses
lower
May 17, 2018
Senate · Passed
Senate Vote: pass (47-0-4)
senate
May 10, 2018
Upper · Passed
Do Pass Revenue; 005-000-000
upper
May 1, 2018
Committee
Assigned to Revenue
upper
Apr 25, 2018
Committee
Referred to Assignments
upper
Apr 24, 2018
Introduced
Arrive in Senate
upper
Apr 24, 2018
House · Passed
House Vote: pass (97-0-7)
house
Apr 10, 2018
Lower · Passed
Do Pass / Short Debate Judiciary - Civil Committee; 011-000-000
lower
Apr 10, 2018
Lower · Passed
Reported Back To Judiciary - Civil Committee;
lower
Apr 10, 2018
Lower · Passed
Recommends Do Pass Subcommittee/ Judiciary - Civil Committee; 003-000-000
lower
Mar 23, 2018
Lower · Passed
To Civil Procedure Subcommittee
lower
Mar 7, 2018
Committee
Assigned to Judiciary - Civil Committee
lower
Feb 14, 2018
Committee
Referred to Rules Committee
lower
0 primary · 2 co-sponsors

Sponsors

No sponsor information available.