Indiana § 4-12-1-14.3 Tobacco master settlement agreement fund

Indiana Statutes

§ 4-12-1-14.3 — Tobacco master settlement agreement fund

Indiana § 4-12-1-14.3

Art. 12APPROPRIATIONS MANAGEMENT

Ch. 1The Budget Agency

This text of Indiana § 4-12-1-14.3 (Tobacco master settlement agreement fund) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 4-12-1-14.3 (2026).

Text

3.

(a)As used in this section, "master settlement agreement" has the meaning set forth in IC 24-3-3-6.

(b)There is hereby created the Indiana tobacco master settlement agreement fund for the purpose of depositing and distributing money received under the master settlement agreement. The fund consists of:

(1)all money received by the state under the master settlement agreement;

(2)appropriations made to the fund by the general assembly; and

(3)grants, gifts, and donations intended for deposit in the fund.

(c)The fund shall be administered by the budget agency. Notwithstanding IC 5-13, the treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as money is invested by the Indiana public retirement system under IC

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3. (a) As used in this section, "master
settlement agreement" has the meaning set forth in IC 24-3-3-6.
(b) There is hereby created the Indiana tobacco master settlement
agreement fund for the purpose of depositing and distributing money
received under the master settlement agreement. The fund consists of:
(1) all money received by the state under the master settlement
agreement;
(2) appropriations made to the fund by the general assembly; and
(3) grants, gifts, and donations intended for deposit in the fund.
(c) The fund shall be administered by the budget agency.
Notwithstanding IC 5-13, the treasurer of state shall invest the money
in the fund not currently needed to meet the obligations of the fund in
the same manner as money is invested by the Indiana public retirement
system under IC 5-10.3-5. The treasurer of state may contract with
investment management professionals, investment advisors, and legal
counsel to assist in the investment of the fund and may pay the state
expenses incurred under those contracts from the fund. Interest that
accrues from these investments shall be deposited in the fund. Money
in the fund at the end of the state fiscal year does not revert to the state
general fund.
(d) The state general fund is not liable for payment of a shortfall in
expenditures, transfers, or distributions from the Indiana tobacco
master settlement agreement fund or any other fund due to a delay,
reduction, or cancellation of payments scheduled to be received by the
state under the master settlement agreement. If such a shortfall occurs
in any state fiscal year, the budget agency shall make the full transfer
to the regional health facilities construction account and then reduce all
remaining expenditures, transfers, and distributions affected by the
shortfall.