Introduced in the House on June 7, 2007, to clarify that the $415 million borrowed against future tobacco lawsuit settlement proceeds as part of the
deal
to borrow and shift funds to avoid spending cuts in the Fiscal Year 2006-2007 budget, is not to be credited to the 21st Century Jobs Trust Fund, but to cover the other spending enabled by the deal. The bill was introduced because the legislative "vehicle" for the deficit financing of current year spending was a bill amending the 2006 law authorizing $400 million in borrowing for the the “
21st Century Jobs Fund” business subsidy program
The vote was 78 in favor, 28 opposed and 4 not voting
(House Roll Call 203 at House Journal 61)
Click here to view bill details.