NATURAL GAS COOP ASSETS

Amends the Illinois Municipal Code. Provides that a municipality and a natural gas cooperative may voluntarily enter into an agreement defining the geographic areas in which each party shall provide retail natural gas service for certain reasons. Provides that a natural gas cooperative shall enter into such an agreement only if the natural gas cooperative has acquired the operating assets of a public utility or natural gas cooperative with the intention of operating those assets as a natural gas cooperative. Amends the Public Utilities Act. Defines "public utility" to exclude natural gas cooperatives that are not-for-profit corporations operated for the purpose of administering, on a cooperative basis, the furnishing of natural gas for the benefit of their members and that have acquired the operating assets of a public utility or natural gas cooperative with the intention of operating those assets as a natural gas cooperative. Amends the General Not For Profit Corporation Act of 1986. Provides that not-for-profit corporations may be organized for the purpose of furnishing natural gas on a cooperative basis. Makes other changes. Effective immediately.