SECOND REGULAR SESSION

[PERFECTED]

HOUSE BILL NO. 1506

90TH GENERAL ASSEMBLY

INTRODUCED BY REPRESENTATIVES VAN ZANDT, SMITH, GAW, HANAWAY, HARLAN,

CAMPBELL, FRANKLIN, BACKER, HOPPE, HOSMER, MURRAY, CRUMP (Co-sponsors), FORD,

OVERSCHMIDT, SCHEVE, GEORGE, FARNEN, ABEL, HOLLINGSWORTH, RANSDALL,

WILLIAMS (121), PARKER, WIGGINS, O'TOOLE, McBRIDE, HOLAND, ELLIOTT, GROSS, GIBBONS,

REYNOLDS, SKAGGS, MAY (108), KISSELL, DAYS, BARRY, DAVIS (122), SHIELDS,

ROSS, FITZWATER, BERKOWITZ, LAKIN, FOLEY, WILLIAMS (159), RELFORD, REINHART,

NAEGER, PHILLIPS, PATEK, SCOTT, BRAY, TUDOR, CURLS, LUETKENHAUS, HICKEY, MONACO,

WILSON (42), KELLY (27), RILEY, RIBACK WILSON (25), McCLELLAND, GRAHAM (106),

GRAHAM (24), BOYKINS, HAGAN-HARRELL, BERKSTRESSER AND DOUGHERTY.

Read 1st time January 13, 2000, and 1000 copies ordered printed.

Read 2nd time January 17, 2000 and referred to the Committee on Missouri Tobacco Settlement January 17, 2000.

Reported from the Committee on Missouri Tobacco Settlement, January 20, 2000, with recommendation that House Bill No. 1506 Do Pass.

Taken up for Perfection January 26, 2000. House Bill No. 1506 ordered Perfected and printed.



ANNE C. WALKER, Chief Clerk

3694L.02P

AN ACT

To amend chapter 196, RSMo, relating to tobacco by adding thereto one new section relating to the same subject.



Be it enacted by the General Assembly of the state of Missouri, as follows:

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 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.

4. 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.

5. No disbursement shall be made from the Missouri tobacco settlement trust fund or any earnings resulting from the investment of such moneys until procedures for disbursement are approved by the voters and further provided by law.


Missouri House of Representatives