SECOND REGULAR SESSION

HOUSE COMMITTEE SUBSTITUTE FOR

HOUSE JOINT

RESOLUTION NO. 61

90TH GENERAL ASSEMBLY

Reported from the Committee on Missouri Tobacco Settlement, February 2, 2000, with recommendation that the House Committee Substitute for House Joint Resolution No. 61 Do Pass.

ANNE C. WALKER, Chief Clerk

3765L.05C

JOINT RESOLUTION

Submitting to the qualified voters of Missouri, an amendment to article X of the Constitution of Missouri, relating to taxation, by adding thereto one new section relating to the tobacco settlement trust fund.



Be it resolved by the House of Representatives, the Senate concurring therein:

That at the next general election to be held in the state of Missouri, on Tuesday next following the first Monday in November, 2000, or at a special election to be called by the governor for that purpose, there is hereby submitted to the qualified voters of this state, for adoption or rejection, the following amendment to article X of the Constitution of the state of Missouri:

Section A. Article X, Constitution of Missouri, is amended by adding thereto one new section, to be known as section 25, to read as follows:

Section 25. 1. Any funds received by the state of Missouri as a result of any legal settlement or award relating to tobacco-related products shall not be classified as "total state revenues" as defined in section 17 of this article and shall be deposited in a special trust fund to be known as the "Tobacco Settlement Trust Fund", which is hereby created. No moneys in the trust fund shall be appropriated as provided by law until the corpus of the trust reaches three hundred million dollars.

2. When the corpus of the tobacco settlement trust fund reaches three hundred million dollars, such amount shall be transferred to the "Tobacco Settlement Endowment", which is hereby created. All moneys in the endowment and any interest accruing thereto shall remain in the endowment until the corpus of the endowment reaches one billion dollars. All moneys in excess of one billion dollars in the endowment shall be transferred to the tobacco settlement trust fund.

3. All moneys deposited into the tobacco settlement trust fund and any interest accruing thereto after the initial transfer provided for in subsection 2 of this section shall be subject to appropriations as provided by law for programs solely related to preventative health care, health care for children and families, health research, and smoking prevention and cessation.

4. Moneys in the tobacco settlement endowment shall not be subject to state law regarding the investment of surplus state funds.


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