Pre-filed December 7, 1999, and 1000 copies ordered printed.
ANNE C. WALKER, Chief Clerk
AN ACT
To amend chapter 196, RSMo, relating to food and drugs by adding thereto one new section relating to the tobacco settlement trust fund.
Section A. Chapter 196, RSMo, is amended by adding thereto one new section, to be known as section 196.1014, to read as follows:
196.1014. 1. There is hereby created in the state treasury the "Missouri Tobacco Settlement Trust Fund".
2. The state treasurer shall deposit to the credit of the tobacco settlement trust fund all moneys received by the state pursuant to the master settlement agreement entered into on November 23, 1998, by the state and leading United States tobacco product manufacturers.
3. The moneys deposited in the tobacco settlement trust fund shall be used as follows:
(1) One-half for general health care; and
(2) One-half for a school building program. Such moneys, administered and distributed by the department of elementary and secondary education, shall be available through grants to local school districts for repair, renovation and new construction of school buildings. The department shall accept applications from school districts and provide grants in progressive order from greatest to least financial need at a match ratio of ninety percent state contribution to ten percent local contribution.
4. The state treasurer shall invest moneys in the Missouri tobacco settlement trust fund in the same manner as surplus state funds are invested pursuant to section 30.260, RSMo.
5. Notwithstanding the provisions of section 33.080, RSMo, to the contrary, moneys in the trust fund shall not revert to the credit of the general revenue fund at the end of the biennium.
6. All earnings resulting from the investment of moneys in the Missouri tobacco settlement trust fund shall be
expended only for the purposes authorized in subsection 3 of this section.
Missouri House of Representatives