CHICAGO, Ill. — Permits for new wells that incorporate the controversial practice of hydraulic fracturing could be issued shortly after the new year, now that a legislative panel approved final rules governing the practice.

It took more than 15 months of negotiations among state lawmakers and groups opposed to and in support of the drilling practice also known as fracking to complete the process of finalizing a set of regulations.

It was a 12-member, bipartisan legislative Joint Committee on Administrative Rules that signed off on the final rules first proposed by the state’s Department of Natural Resources (DNR), the agency charged with issuing permits and overseeing the process.

Democrat Sen. Don Harmon of Oak Park and state Rep. Timothy Schmitz, a Geneva Republican, are the panel’s co-chairs.

Groups that support the fracking process, including the Growing Resources and Opportunity for the Workforce in Illinois (GROW-IL), say the rules’ approval is long overdue and point to the state’s still-struggling financial state and high unemployment rates as reasons to move forward as soon as possible.

The legislative panel’s approval earlier this month “will allow Illinois to finally begin issuing permits and developing an innovative energy sector,” said Mark Denzler, GROW-IL’s co-chair, who also is the chief operating officer of the Illinois Manufacturers’ Assoc.

“This exciting development will create much needed jobs and significant revenue for our state economy. Industry, labor and environmental groups worked together to include the strongest safeguards that will protect the environment while stimulating the economy.”

Lawmakers first approved, and Gov. Pat Quinn signed into law, the Hydraulic Fracturing Regulatory Act more than 15 months ago. It was a longer process than usual for most laws because of the controversial nature of the process, which includes the injection of various chemicals, sand and water into the ground to help extract natural gas and oil from sedimentary rock structures.

The New Albany shale gas formation – part of the Illinois Basin that covers much of central and southern Illinois, western Indiana and parts of Kentucky – is the targeted area for much of the region’s fracking.

Hundreds of landowners have already negotiated deals with drilling companies for the mineral rights, and GROW-IL predicts the process alone could create more than 50,000 new jobs in Illinois alone and have an economic impact on the state’s economy that would approach $10 billion.

Under terms of the rules, drillers can start applying for permits immediately and may begin operations at specific sites as early as 30 days after application. They must pay a nonrefundable fee of $13,500 per well.

Applications must disclose the amounts of fluid to be used during drilling, what pressure will be used, what chemicals will be used and how long the extracted, used fluid will be stored and how it will be removed from the site. The DNR is bound to approve or reject the application within 60 days of submission, and must also conduct at least one public hearing on each application.

The length of time needed to approve the rules led a group of a dozen Wayne County farmers to file suit against the state for what they claim were unnecessary delays, which led to several drillers moving on to different areas of the country. That lawsuit is pending.