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91_SB1851
LRB9112668DJcs
1 AN ACT to amend the State Finance Act by changing Section
2 6z-43.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The State Finance Act is amended by changing
6 Section 6z-43 as follows:
7 (30 ILCS 105/6z-43)
8 Sec. 6z-43. Tobacco Settlement Recovery Fund. There is
9 created in the State Treasury a special fund to be known as
10 the Tobacco Settlement Recovery Fund into which shall be
11 deposited all monies paid to the State pursuant to (1) the
12 Master Settlement Agreement entered in the case of People of
13 the State of Illinois v. Philip Morris, et al. (Circuit Court
14 of Cook County, No. 96-L13146) and (2) any settlement with or
15 judgment against any tobacco product manufacturer other than
16 one participating in the Master Settlement Agreement in
17 satisfaction of any released claim as defined in the Master
18 Settlement Agreement, as well as any other monies as provided
19 by law. All earnings on Fund investments shall be deposited
20 into the Fund. Upon the creation of the Fund, the State
21 Comptroller shall order the State Treasurer to transfer into
22 the Fund any monies paid to the State as described in item
23 (1) or (2) of this Section before the creation of the Fund
24 plus any interest earned on the investment of those monies.
25 The Treasurer may invest the moneys in the Fund in the same
26 manner, in the same types of investments, and subject to the
27 same limitations provided in the Illinois Pension Code for
28 the investment of pension funds other than those established
29 under Article 3 or 4 of the Code.
30 (Source: P.A. 91-646, eff. 11-19-99.)
-2- LRB9112668DJcs
1 Section 99. Effective date. This Act takes effect upon
2 becoming law.