House Sponsors: MADIGAN,MJ-CURRIE-FEIGENHOLTZ-GILES. Senate Sponsors: RAUSCHENBERGER-TROTTER Short description: GENERAL OBLIGATION BOND ACT Synopsis of Bill as introduced: Amends the State Finance Act concerning the Tobacco Settlement Recovery Fund. Makes a technical change. SENATE AMENDMENT NO. 1. Deletes reference to: 30 ILCS 105/6z-43 Adds reference to: 770 ILCS 5/2 new Deletes everything. Amends the Attorneys Lien Act. Provides that the Act does not create a lien, nor has it ever created a lien, in favor of any attorney representing the State of Illinois in certain matters, and provides, in particular, that the Act did not create a lien in favor of the attorneys representing the State of Illinois in the case of People of the State of Illinois v. Philip Morris et al. (Circuit Court of Cook County, No. 96-L13146). Effective immediately. SENATE AMENDMENT NO. 2. Deletes reference to: 770 ILCS 5/2 new Adds reference to: 30 ILCS 105/6z-43 30 ILCS 330/2 from Ch. 127, par. 652 30 ILCS 330/7.5 new 30 ILCS 330/12 from Ch. 127, par. 662 Deletes everything. Amends the General Obligation Bond Act to authorize an additional $750,000,000 in general obligation bonds. Provides that the amount of $750,000,000 is authorized to be issued during fiscal year 2003 for the making of deposits as follows: 50% to the General Revenue Fund to build the fiscal year ending general funds cash balance and to meet the ordinary and contingent expenses of the State and 50% to the Budget Stabilization Fund. Amends the State Finance Act to authorize the transfers from the Tobacco Settlement Recovery Fund to the General Revenue Fund to pay the aggregate of the principal of, interest on, and premium, if any, on the tobacco securitization general obligation bonds. Effective immediately. Last action on Bill: PUBLIC ACT.............................. 92-0596 Last action date: JUN-28-2002 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 2 END OF INQUIRY Full Text Bill Status