This text of Nevada § 439.620 (Creation and administration of Fund; appropriation and expenditure of contents) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
1. The Fund for a Healthy Nevada is hereby created in the State Treasury. The State Treasurer shall deposit in the Fund:
(a)Sixty percent of all money received by this State pursuant to any settlement entered into by the State of Nevada and a manufacturer of tobacco products; and
(b)Sixty percent of all money recovered by this State from a judgment in a civil action against a manufacturer of tobacco products.
2. The State Treasurer shall administer the Fund. As administrator of the Fund, the State Treasurer:
(a)Shall maintain the financial records of the Fund;
(b)Shall invest the money in the Fund as the money in other state funds is invested;
(c)Shall manage any account associated with the Fund;
(d)Shall maintain any instruments that evidence investments made with the money in the F
Free access — add to your briefcase to read the full text and ask questions with AI
1. The Fund for a Healthy Nevada is hereby created in the State Treasury. The State Treasurer shall deposit in the Fund:
(a) Sixty percent of all money received by this State pursuant to any settlement entered into by the State of Nevada and a manufacturer of tobacco products; and
(b) Sixty percent of all money recovered by this State from a judgment in a civil action against a manufacturer of tobacco products.
2. The State Treasurer shall administer the Fund. As administrator of the Fund, the State Treasurer:
(a) Shall maintain the financial records of the Fund;
(b) Shall invest the money in the Fund as the money in other state funds is invested;
(c) Shall manage any account associated with the Fund;
(d) Shall maintain any instruments that evidence investments made with the money in the Fund;
(e) May contract with vendors for any good or service that is necessary to carry out the provisions of this section; and
(f) May perform any other duties necessary to administer the Fund.
3. The interest and income earned on the money in the Fund must, after deducting any applicable charges, be credited to the Fund. All claims against the Fund must be paid as other claims against the State are paid.
4. The State Treasurer or the Department may submit to the Interim Finance Committee a request for an allocation for administrative expenses from the Fund pursuant to this section. Except as otherwise limited by this subsection, the Interim Finance Committee may allocate all or part of the money so requested. The annual allocation for administrative expenses from the Fund must:
(a) Not exceed 2 percent of the money in the Fund, as calculated pursuant to this subsection, each year to pay the costs incurred by the State Treasurer to administer the Fund; and
(b) Not exceed 5 percent of the money in the Fund, as calculated pursuant to this subsection, each year to pay the costs incurred by the Department, including, without limitation, the Aging and Disability Services Division of the Department, to carry out its duties set forth in NRS 439.630 .
Ê For the purposes of this subsection, the amount of money available for allocation to pay for the administrative costs must be calculated at the beginning of each fiscal year based on the total amount of money anticipated by the State Treasurer to be deposited in the Fund during that fiscal year.
5. The money in the Fund remains in the Fund and does not revert to the State General Fund at the end of any fiscal year.
6. All money that is deposited or paid into the Fund is hereby appropriated to be used for any purpose authorized by the Legislature or by the Department for expenditure or allocation in accordance with the provisions of NRS 439.630 . Money expended from the Fund must not be used to supplant existing methods of funding that are available to public agencies.