CLEAN COAL FUTUREGEN FOR IL

Amends the Clean Coal FutureGen for Illinois Act. Defines "operational phase". Provides that if the FutureGen Alliance selects as its location for CO2 storage a designated site or sites in the State of Illinois suitable for injection of captured CO2 into the Mount Simon Formation (rather than at the Tuscola or Mattoon site), then the Operator shall retain the rights, title, and interest in and to and any liabilities associated with the pre-injection CO2. Provides that the Operator shall retain all rights, title, and interest in the sequestered CO2 during the operational phase of the FutureGen Project. Provides that following the operational phase of the FutureGen Project, the Operator shall transfer and convey and the State of Illinois shall accept and receive, with no payment due from the State of Illinois, all rights, title and interest in and to and any liabilities associated with the sequestered CO2. Provides that the Operator (rather than the Department) shall procure a certain insurance policy that insures the Operator against any qualified loss stemming from a public liability action and with coverage limits of at least $15,000,000. Provides that the Operator shall establish and fund a newly-created CO2 Storage Trust Fund to complement commercially-available insurance products and to support the Operator's ability to satisfy financial assurance obligations that may be required by law or the terms of the Operator's permit issued by the Agency. Provides that the State shall indemnify and hold harmless the Operator against any qualified loss stemming from a public liability action to the extent that the qualified loss is not covered under the insurance policy required under the Act and to the extent that the CO2 Storage Trust Fund lacks adequate funds to cover the loss. Extends the repeal date from March 1, 2011 to March 1, 2015. Makes other changes. Effective immediately.