State of Illinois
91st General Assembly
Legislation

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91_HB3621eng

 
HB3621 Engrossed                               LRB9112490DJtm

 1        AN ACT in relation to tobacco settlement proceeds.

 2        Be it enacted by the People of  the  State  of  Illinois,
 3    represented in the General Assembly:

 4        Section  5.  The State Finance Act is amended by changing
 5    Section 6z-43 as follows:

 6        (30 ILCS 105/6z-43)
 7        Sec. 6z-43. Tobacco Settlement Recovery Fund.   There  is
 8    created  in  the State Treasury a special fund to be known as
 9    the Tobacco Settlement Recovery  Fund  into  which  shall  be
10    deposited all moneys monies paid to the State pursuant to (1)
11    the Master Settlement Agreement entered in the case of People
12    of  the  State  of Illinois v. Philip Morris, et al. (Circuit
13    Court of Cook County, No. 96-L13146) and (2)  any  settlement
14    with  or  judgment  against  any tobacco product manufacturer
15    other  than  one  participating  in  the  Master   Settlement
16    Agreement in satisfaction of any released claim as defined in
17    the  Master Settlement Agreement, as well as any other moneys
18    monies as provided by law.  All earnings on Fund  investments
19    shall  be  deposited into the Fund.  Upon the creation of the
20    Fund, the State Comptroller shall order the  State  Treasurer
21    to transfer into the Fund any moneys monies paid to the State
22    as  described  in  item (1) or (2) of this Section before the
23    creation  of  the  Fund  plus  any  interest  earned  on  the
24    investment of those moneys monies.
25    (Source: P.A. 91-646, eff. 11-19-99.)

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