Illinois Compiled Statutes 30 ILCS 105/6z-105 – The VW Settlement Environmental Mitigation Fund
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Illinois Compiled Statutes 30 ILCS 105/6z-105
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
The VW Settlement Environmental Mitigation Fund is created as a special fund in the State Treasury to receive moneys from the State Mitigation Trust established pursuant to the Environmental Mitigation Trust Agreement for State Beneficiaries (“Trust Agreement”) pursuant to consent decrees in In re: Volkswagen “Clean Diesel” Marketing, Sales Practices, and Products Liability Litigation, MDL No. 2672 CRB (JSC) (“VW Settlement”). All funds received by the State from the State Mitigation Trust shall be deposited into the VW Settlement Environmental Mitigation Fund to be used, subject to appropriation by the General Assembly, by the Illinois Environmental Protection Agency as designated lead agency for the State of Illinois, to pay for costs of eligible mitigation actions and related administrative expenditures as allowed under the VW Settlement, the Trust Agreement, and the State’s Beneficiary Mitigation Plan.