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91_HB1628sam001
LRB9103175DJcdam05
1 AMENDMENT TO HOUSE BILL 1628
2 AMENDMENT NO. . Amend House Bill 1628 by replacing
3 the title with the following:
4 "AN ACT to provide for the deposit of funds received from
5 settlement of litigation against tobacco companies."; and
6 by replacing everything after the enacting clause with the
7 following:
8 "Section 5. The State Finance Act is amended by adding
9 Sections 5.540 and 6z-43 as follows:
10 (30 ILCS 105/5.540 new)
11 Sec. 5.540. The Tobacco Settlement Recovery Fund.
12 (30 ILCS 105/6z-43 new)
13 Sec. 6z-43. Tobacco Settlement Recovery Fund. There is
14 created in the State Treasury a special fund to be known as
15 the Tobacco Settlement Recovery Fund into which shall be
16 deposited all monies paid to the State pursuant to (1) the
17 Master Settlement Agreement entered in the case of People of
18 the State of Illinois v. Philip Morris, et al. (Circuit Court
19 of Cook County, No. 96-L13146) and (2) any settlement with or
20 judgment against any tobacco product manufacturer other than
-2- LRB9103175DJcdam05
1 one participating in the Master Settlement Agreement in
2 satisfaction of any released claim as defined in the Master
3 Settlement Agreement, as well as any other monies as provided
4 by law. All earnings on Fund investments shall be deposited
5 into the Fund. Upon the creation of the Fund, the State
6 Comptroller shall order the State Treasurer to transfer into
7 the Fund any monies paid to the State as described in item
8 (1) or (2) of this Section before the creation of the Fund
9 plus any interest earned on the investment of those monies.
10 Section 99. Effective date. This Act takes effect upon
11 becoming law.".