State of Illinois
92nd General Assembly
Legislation

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92_HB2045

 
                                               LRB9203487SMdv

 1        AN ACT concerning State finance.

 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.
 8        (a)  There is created in the  State  Treasury  a  special
 9    fund  to  be  known  as the Tobacco Settlement Recovery Fund,
10    into which shall be deposited all moneys monies paid  to  the
11    State pursuant to (1) the Master Settlement Agreement entered
12    in  the  case  of  People  of the State of Illinois v. Philip
13    Morris, et al. (Circuit Court of Cook County, No.  96-L13146)
14    and  (2)  any settlement with or judgment against any tobacco
15    product manufacturer other  than  one  participating  in  the
16    Master  Settlement  Agreement in satisfaction of any released
17    claim as defined in the Master Settlement Agreement, as  well
18    as  any other moneys monies as provided by law.  All earnings
19    on Fund investments shall be deposited into the  Fund.   Upon
20    the  creation  of the Fund, the State Comptroller shall order
21    the State Treasurer to transfer  into  the  Fund  any  moneys
22    monies  paid  to the State as described in item (1) or (2) of
23    this Section  before  the  creation  of  the  Fund  plus  any
24    interest earned on the investment of those moneys monies. The
25    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        (b)  As soon as may be practical after June 30, 2001, the
31    State  Comptroller shall direct and the State Treasurer shall
 
                            -2-                LRB9203487SMdv
 1    transfer the unencumbered balance in the  Tobacco  Settlement
 2    Recovery   Fund   as   of  June  30,  2001  into  the  Budget
 3    Stabilization Fund.  The Treasurer may invest the  moneys  in
 4    the Budget Stabilization Fund in the same manner, in the same
 5    types  of  investments,  and  subject to the same limitations
 6    provided in the Illinois Pension Code for the  investment  of
 7    pension funds other than those established under Article 3 or
 8    4 of the Code.
 9        (c)  At  least 50% of all moneys deposited into the Fund,
10    including moneys generated from  Fund  investments,  must  be
11    appropriated  for  new or enhanced public health initiatives,
12    or for the continuation of any  such  initiatives  instituted
13    after  the  effective date of this amendatory Act of the 92nd
14    General Assembly.  These initiatives may include, but are not
15    be limited to, programs for  the  health  care  of  children,
16    prevention  and  cessation  of  tobacco  use,  enforcement of
17    restrictions on juvenile  access  to  tobacco  products,  and
18    public education on the dangers of tobacco use.
19        (d)  The  Tobacco Recovery Advisory Commission is created
20    to advise on the use and allocation of moneys deposited  into
21    the  Fund.   The  Commission  shall  consist  of the Attorney
22    General, who shall chair the Commission,  2  members  of  the
23    Senate,  one appointed by the President of the Senate and the
24    other appointed by the  Minority  Leader  of  the  Senate,  2
25    members of the House of Representatives, one appointed by the
26    Speaker  of the House of Representatives and one appointed by
27    the Minority Leader of the House of  Representatives,  and  4
28    public  members, 2 of whom shall be appointed by the Governor
29    and 2 of whom shall be appointed  by  the  Attorney  General.
30    The  public  members  must have expertise in issues of public
31    health.  The members  of  the  Commission  shall  receive  no
32    compensation  for  their services but shall be reimbursed for
33    necessary expenses  incurred  in  the  performance  of  their
34    duties  from  sums  appropriated to the Attorney General from
 
                            -3-                LRB9203487SMdv
 1    the Fund for this purpose.  The Commission must report to the
 2    Governor and the General Assembly not later than January 1 of
 3    each calendar year.
 4    (Source: P.A. 91-646, eff.  11-19-99;  91-704,  eff.  7-1-00;
 5    91-797, eff. 6-9-00; revised 6-28-00.)

 6        Section  99.  Effective date.  This Act takes effect upon
 7    becoming law.

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