FEIGENHOLTZ-FRITCHEY, ERWIN, RONEN AND LOPEZ.
TOBACCO SETTLEMNT RECOVRY FUND
Synopsis of Bill as introduced:
Amends the State Finance Act. Creates the Tobacco Settlement
Recovery Fund which shall consist of all monies paid to the State
pursuant to (1) the Master Settlement Agreement entered in the case of
People of the State of Illinois v. Philip Morris, et al. and (2) any
settlement with or judgment against any tobacco product manufacturer
other than one participating in the Master Settlement Agreement in
satisfaction of any released claim, as well as any other monies as
provided by law. Provides that at least 50% of all monies deposited
into the Fund shall be appropriated for new or enhanced public health
initiatives, or for the continuation of any such initiatives.
Provides for the creation of the Tobacco Recovery Advisory Commission
to advise on the use and allocation of monies deposited into the Fund.
Provides that the Commission shall report to the Governor and the
General Assembly not later than January 1 of each calendar year.
HOUSE AMENDMENT NO. 2.
Provides that the amount of monies paid to the State and
deposited into the Tobacco Settlement Recovery Fund shall be adjusted
for amounts related to claims by local political subdivisions, as well
as other required adjustments, as provided in the Master Settlement
FISCAL NOTE (Attorney General)
There will be no fiscal impact.
Last action on Bill: SESSION SINE DIE
Last action date: 01-01-09
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0
END OF INQUIRY
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