North Carolina § 143C-9-3 - Settlement Reserve Fund.

§ 143C-9-3. Settlement Reserve Fund.

The "Settlement Reserve Fund" is established as a special fund to receive proceeds from tobacco litigation settlement agreements or final orders or judgments of a court in litigation between tobacco companies and the states. Each year, the sum of seventeen million five hundred thousand dollars ($17,500,000) from the Settlement Reserve Fund is appropriated to The Golden L.E.A.F. (Long-Term Economic Advancement Foundation), Inc., a nonprofit corporation, and these funds shall not be subject to G.S. 143C-6-23. The remainder of the funds credited to the Settlement Reserve Fund each fiscal year shall be transferred to the General Fund and included in General Fund availability as nontax revenue. , (c) Repealed by Session Laws 2011-145, s. 6.11(i), effective July 1, 2011. (d) Unless prohibited by federal law, federal funds provided to the State by block grant or otherwise as part of federal legislation implementing a settlement between United States tobacco companies and the states shall be credited to the Settlement Reserve Fund. Unless otherwise encumbered or distributed under a settlement agreement or final order or judgment of the court, funds paid to the State or a State agency pursuant to a tobacco litigation settlement agreement, or a final order or judgment of a court in litigation between tobacco companies and the states, shall be credited to the Settlement Reserve Fund. History (2006-203, s. 3; 2011-145, s. 6.11(i); 2013-360, s. 6.4(e); 2013-363, s. 1.5; 2015-241, s. 6.24(a); 2015-268, s. 1.2; 2016-94, s. 6.6; 2017-57, s. 6.5.) Cross References. - As to University Cancer Research Fund, see G.S. 116-29.1 . Editor's Note. - Session Laws 2007-532, s. 5, as amended by Session Laws 2009-550, s. 9, provides: "Notwithstanding G.S. 143C-9-3(b) and G.S. 147-86.30 , of the funds credited to the Health Trust Account from the Master Settlement Agreement pursuant to Section 6(3) of S.L. 1999-2 during the 2008-2009 fiscal year, the sum of five million dollars ($5,000,000) for the 2008-2009 fiscal year shall be transferred from the Department of State Treasurer, Budget Code 23460 (Health and Wellness Trust Fund) to the North Carolina Health Insurance Risk Pool, as enacted by this act." Session Laws 2008-107, s. 2.2(e), provides: "Notwithstanding G.S. 143C-9-3 , of the funds credited to the Tobacco Trust, the sum of five million dollars ($5,000,000) shall be transferred from the Department of Agriculture and Consumer Services, Budget Code 23703 (Tobacco Trust Fund), to the State Controller to be deposited in Nontax Budget Code 19978 (Intra State Transfers) to support General Fund appropriations for the 2008-2009 fiscal year. These funds shall be transferred on or after April 30, 2009." Session Laws 2008-107, s. 2.2(f), provides: "Notwithstanding G.S. 143C-9-3 , of the funds credited to the Health Trust Account, the sum of five million dollars ($5,000,000) that would otherwise be deposited in the Fund Reserve shall be transferred from the Department of State Treasurer, Budget Code 23460 (Health and Wellness Trust Fund), to the State Controller to be deposited in Nontax Budget Code 19978 (Intra State Transfers) to support General Fund appropriations for the 2008-2009 fiscal year." Session Laws 2008-107, s. 1.2, provides: "This act shall be known as 'The Current Operations and Capital Improvements Appropriations Act of 2008'." Session Laws 2008-107, s. 30.3, provides: "Except for statutory changes or other provisions that clearly indicate an intention to have effects beyond the 2008-2009 fiscal year, the textual provisions of this act apply only to funds appropriated for, and activities occurring during, the 2008-2009 fiscal year." Session Laws 2008-107, s. 30.5, is a severability clause. Session Laws 2009-451, s. 2.2(h), as amended by Session Laws 2010-31, s. 2.2(i), provides: "Notwithstanding G.S. 143C-9-3 , of the funds credited to the Tobacco Trust, the sum of five million dollars ($5,000,000) shall be transferred from the Department of Agriculture and Consumer Services, Budget Code 23703 (Tobacco Trust Fund), to the State Controller to be deposited in Nontax Budget Code 19978 (Intrastate Transfers) to support General Fund appropriations for the 2010-2011 fiscal year. These funds shall be transferred on or after April 30, 2011." Session Laws 2009-451, s. 2.2(i), as amended by Session Laws 2010-31, s. 2.2(f), provides: "Notwithstanding G.S. 143C-9-3 , of the funds credited to the Health Trust Account, the sum of ten million three hundred ninety-seven thousand dollars ($10,397,000) that would otherwise be deposited in the Fund Reserve shall be transferred from the Department of State Treasurer, Budget Code 23460 (Health and Wellness Trust Fund), to the State Controller to be deposited in Nontax Budget Code 19978 (Intrastate Transfers) to support General Fund appropriations for the 2009-2010 and 2010-2011 fiscal years. These funds shall be transferred on or after April 30, 2010." Session Laws 2009-451, s. 1.2, provides: "This act shall be known as the 'Current Operations and Capital Improvements Appropriations Act of 2009'." Session Laws 2009-451, s. 28.3, provides: "Except for statutory changes or other provisions that clearly indicate an intention to have effects beyond the 2009-2011 fiscal biennium, the textual provisions of this act apply only to funds appropriated for, and activities occurring during, the 2009-2011 fiscal biennium." Session Laws 2009-451, s. 28.5, is a severability clause. Effect of Amendments. - Session Laws 2011-145, s. 6.11(i), effective July 1, 2011, deleted subsections (b) and (c), which read: "(b) A Health Trust Account is established in the Settlement Reserve Fund. The portion of each Master Settlement Agreement payment identified in Section 6(3) of S.L. 1999-2 shall be credited to the Health Trust Account. The State Controller shall transfer all funds in the Health Trust Account to the Health and Wellness Trust Fund created in Article 6C of Chapter 147 of the General Statutes. "(c) A Tobacco Trust Account is established in the Settlement Reserve Fund. The portion of each Master Settlement Agreement payment identified in Section 6(2) of S.L. 1999-2 shall be credited to the Tobacco Trust Account. The State Controller shall transfer all funds in the Tobacco Trust Account to the Tobacco Trust Fund created in Article 75 of Chapter 143 of the General Statutes." Session Laws 2013-360, s. 6.4(e), as amended by Session Laws 2013-363, s. 1.5, effective July 1, 2013, rewrote subsection (a), which formerly read "The 'Settlement Reserve Fund' is established as a restricted reserve in the General Fund. Except as otherwise provided in this section, funds shall be expended from the Settlement Reserve Fund only by specific appropriation by the General Assembly." Session Laws 2015-241, s. 6.24(a), effective July 1, 2015, added subsection (a1); and in subsection (a), substituted "as a special fund in the Office of State Budget and Management" for "in the General Fund" near the beginning of the first sentence, and deleted the former last sentence, which read: "Funds credited to the Settlement Reserve Fund each fiscal year shall be included in General Fund availability as nontax revenue." Session Laws 2015-268, s. 1.2, effective October 1, 2015, deleted "in the Office of State Budget and Management" following "established as a special fund" in subsection (a). Session Laws 2016-94, s. 6.6, effective July 1, 2016, substituted "a nonprofit corporation, and these funds shall not be subject to G.S. 143C-6-23 " for "a nonprofit corporation" at the end of the first sentence of subsection (a1). Session Laws 2017-57, s. 6.5, effective July 1, 2017, substituted "seventeen million five hundred thousand dollars ($17,500,000)" for "ten million dollars ($10,000,000)." in subsection (a1).