92nd General Assembly
Status of SB1013
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 Full Text  Bill Summary

   New Act                                                                     
   30 ILCS 105/6z-43                                                           

        Creates the Tobacco Settlement Securitization Act and amends  the      
   State  Finance Act.  Creates the Tobacco Settlement Bonding Authority,      
   and authorizes the State Treasurer to sell to the Bonding Authority up      
   to  40%  of  all   payments   that   tobacco   product   manufacturers      
   participating  in  the Master Settlement Agreement are required to pay      
   to the State. Provides  for  a  Board  of  Directors  of  the  Bonding      
   Authority,  with  the  State  Treasurer  as Chairman of the Board, and      
   provides for the appointment of an Executive Director of  the  Bonding      
   Authority.   Authorizes  the Bonding Authority to issue bonds having a      
   maximum maturity of 30 years and in a total outstanding maximum amount      
   of $2,500,000,000.  Provides for dissolution of the Bonding  Authority      
   in  30  years.  Requires the State Treasurer to administer the Tobacco      
   Settlement Recovery Fund  consistently  with  the  Tobacco  Settlement      
   Securitization Act.  Effective immediately.                                 
   FEB-22-2001  S  FIRST READING                                                  
   FEB-22-2001  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   FEB-28-2001  S       ASSIGNED TO COMMITTEE               EXECUTIVE             
   MAR-08-2001  S       TO SUBCOMMITTEE                                           
   MAR-08-2001  S                   COMMITTEE               EXECUTIVE             
   MAR-31-2001  S  RE-REFERRED TO RULES COMM/RULE 3-9(A)    RULES                 
   JAN-29-2002  S  SPONSOR REMOVED                          RAUSCHENBERGER        
   JAN-29-2002  S  CHIEF SPONSOR CHANGED TO                 WATSON                
   JAN-07-2003  S  SESSION SINE DIE                                               


 Full Text  Bill Summary