House Sponsors: MULLIGAN-COULSON. Short description: TOBACCO SETTLEMENT-TRUST-BONDS Synopsis of Bill as introduced: Creates the Tobacco Settlement Investment Act and amends the State Finance Act. Creates the Tobacco Settlement Investment Trust Fund as a special fund in the State treasury. Requires the State Treasurer to deposit into the Fund 60% of the moneys received by the State in a tobacco settlement, for purposes of investment. Creates the Tobacco Settlement Bonding Authority. Requires the State Treasurer to transfer to the Authority 40% of the moneys received by the State in a tobacco settlement, for purposes of financing the issuance of bonds. Authorizes the Authority to issue up to $1,000,000,000 in bonds. Dissolves the Authority 40 years after the effective date of the Tobacco Settlement Investment Act. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status