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91_HB3622
LRB9112489DJtm
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 monies paid to the State pursuant to (i) (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 (ii) (2) any
14 settlement with or judgment against any tobacco product
15 manufacturer other than one participating in the Master
16 Settlement Agreement in satisfaction of any released claim as
17 defined in the Master Settlement Agreement, as well as any
18 other monies as provided by law. All earnings on Fund
19 investments shall be deposited into the Fund. Upon the
20 creation of the Fund, the State Comptroller shall order the
21 State Treasurer to transfer into the Fund any monies paid to
22 the State as described in item (i) (1) or (ii) (2) of this
23 Section before the creation of the Fund plus any interest
24 earned on the investment of those monies.
25 (Source: P.A. 91-646, eff. 11-19-99.)