Senate Sponsors: SIEBEN. House Sponsors: FEIGENHOLTZ-FRITCHEY-MITCHELL,BILL-RIGHTER-GASH Short description: TOBACCO MANUFACTRRS ESCROW ACT Synopsis of Bill as introduced: Creates the Tobacco Product Manufacturer's Escrow Act. Provides that any tobacco product manufacturer (as defined in the Master Settlement Agreement entered into by the State of Illinois and leading tobacco product manufacturers) selling cigarettes to consumers within the State of Illinois on and after the effective date of this Act shall become a "participating manufacturer" and perform its financial obligations under the Master Settlement Agreement or place certain designated sums into a qualified escrow account to be used under the Settlement Agreement. The funds in the escrow account shall be used to pay a judgment or settlement on any released claim brought against the tobacco product manufacturer by the State or any releasing party located or residing in the State. Provides for fines for failure to pay into or maintain the funds in the account which shall be paid into the Tobacco Settlement Recovery Fund. Effective immediately. SENATE AMENDMENT NO. 1. Makes changes in terminology, punctuation, and grammar. Provides that the fines paid by tobacco product manufacturers electing to place funds into escrow who are found to have violated or knowingly violated this requirement shall be paid into the General Revenue Fund rather than the Tobacco Settlement Recovery Fund. HOUSE AMENDMENT NO. 1. In provisions defining "qualified escrow fund" as a fund which prohibits the tobacco product manufacturer placing the funds into escrow from using, accessing, or directing the use of the funds' principal except as consistent with 2 other provisions of the Act, deletes reference to one of the provisions. Makes other changes. Last action on Bill: PUBLIC ACT.............................. 91-0041 Last action date: 99-06-30 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 1 END OF INQUIRY Full Text Bill Status