91st General Assembly
Summary of HB1468
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House Sponsors:

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      
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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