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91_HB4049
LRB9111537DJcd
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.
9 (a) There is created in the State Treasury a special
10 fund to be known as the Tobacco Settlement Recovery Fund into
11 which shall be deposited all monies paid to the State
12 pursuant to (1) the Master Settlement Agreement entered in
13 the case of People of the State of Illinois v. Philip Morris,
14 et al. (Circuit Court of Cook County, No. 96-L13146) and (2)
15 any settlement with or judgment against any tobacco product
16 manufacturer other than one participating in the Master
17 Settlement Agreement in satisfaction of any released claim as
18 defined in the Master Settlement Agreement, as well as any
19 other monies as provided by law. All earnings on Fund
20 investments shall be deposited into the Fund. Upon the
21 creation of the Fund, the State Comptroller shall order the
22 State Treasurer to transfer into the Fund any monies paid to
23 the State as described in item (1) or (2) of this Section
24 before the creation of the Fund plus any interest earned on
25 the investment of those monies.
26 (b) Monies paid to the State pursuant to items (1) and
27 (2) of subsection (a) may not be used for any purpose related
28 to the issuance of bonds, the payment of principal or
29 interest on bonds, or the payment of any other costs in
30 connection with bonds, except bonds issued to finance
31 projects related to public health.
-2- LRB9111537DJcd
1 (Source: P.A. 91-646, eff. 11-19-99.)
2 Section 99. Effective date. This Act takes effect upon
3 becoming law.