S.B. 6005

1

TOBACCO PERMANENT TRUST FUND
2 APPROPRIATION
3 2002 SIXTH SPECIAL SESSION
4 STATE OF UTAH
5 Sponsor: L. Steven Poulton
6 This act modifies State Affairs in General. The act modifies the distribution of Tobacco
7 Settlement Funds from December 20, 2002 until July 1, 2003. The act has an immediate
8 effective date.
9 This act affects sections of Utah Code Annotated 1953 as follows:
10 ENACTS:
11 63-97-301.5, Utah Code Annotated 1953
12 Be it enacted by the Legislature of the state of Utah:
13 Section 1. Section 63-97-301.5 is enacted to read:
14 63-97-301.5. Tobacco Settlement Funds Allocation.
15 Notwithstanding the provisions of Sections 63-97-201 and 63-97-301 , all funds of
16 every kind that are received by the state that are related to the settlement agreement that the
17 state entered into with leading tobacco manufacturers on November 23, 1998 shall be deposited
18 as follows:
19 (1) from December 20, 2002 until January 31, 2003:
20 (a) 50% of all money received by the state shall be deposited in the General Fund;
21 (b) 50% of all money received by the state shall be deposited in the "Tobacco
22 Settlement Restricted Account" and distributed in accordance with Section 63-97-201 ; and
23 (c) money received by the state shall not be deposited into the permanent state trust
24 fund created and operated under Utah Constitution Article XXII, Section 4;
25 (2) from February 1, 2003 until June 30, 2003:
26 (a) an amount of money received by the state equal to $16 million, minus the amount
27 deposited under Subsection (1)(a) shall be deposited into the General Fund;

28 (b) the money received by the state that remains after the deposit required by
29 Subsection (2)(a) shall be deposited into the "Tobacco Settlement Restricted Account" and
30 distributed in accordance with Section 63-97-201 ; and
31 (c) money received by the state shall not be deposited into the permanent state trust
32 fund created and operated under Utah Constitution Article XXII, Section 4; and
33 (3) beginning July 1, 2003 money received by the state shall be deposited in
34 accordance with Sections 63-97-201 and 63-97-301 .
35 Section 2. Effective date.
36 If approved by two-thirds of all the members elected to each house, this act takes effect
37 upon approval by the governor, or the day following the constitutional time limit of Utah
38 Constitution Article VII, Section 8, without the governor's signature, or in the case of a veto,
39 the date of veto override.




Legislative Review Note
as of 12-18-02 6:01 PM

A limited legal review of this legislation raises no obvious constitutional or statutory concerns.

Office of Legislative Research and General Counsel