91st General Assembly
Summary of HB3343
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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 



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