1. A tobacco settlement endowment fund is created in the office of the treasurer of state. After payment of litigation costs, all moneys paid to the state pursuant to the master settlement agreement, as defined in section 453C.1, shall be deposited in the fund.
2. Any moneys paid to the state by the tobacco settlement authority pursuant to chapter 12E shall be deposited in the fund. Additionally, the state's share of the moneys which are not sold to the tobacco settlement authority pursuant to chapter 12E shall be deposited in the fund.
3. Moneys deposited in the fund shall be used only in accordance with appropriations from the fund for purposes related to health care, substance abuse treatment and enforcement, tobacco use prevention and control, and other purposes related to the needs of children, adults, and families in the state.
4. A savings account for healthy Iowans is created within the tobacco settlement endowment fund. Moneys, appropriated annually, shall be deposited in the account and shall be invested to provide an ongoing source of investment earnings.
5. Notwithstanding section 8.33, any unexpended balance in the fund at the end of the fiscal year shall be retained in the fund. Notwithstanding section 12C.7, subsection 2, interest or earnings on investments or time deposits of the moneys in the tobacco settlement endowment fund, in the savings account for healthy Iowans, and in any other account established within the fund shall be credited to the tobacco settlement endowment fund, to the savings account for healthy Iowans, or to any other account established, respectively.
6. For the purposes of this section, "litigation costs" are those costs itemized by the attorney general and submitted to and approved by the attorney general.
7. Moneys in the fund shall be considered part of the general fund of the state for cash flow purposes only, provided any moneys used for cash flow purposes are returned to the fund by the close of each fiscal year.
97 Acts, ch 209, §19; 2000 Acts, ch 1232, §12, 17
Referred to in § 12E.2, 12E.3, 12E.10
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