(a)(1) The Tobacco Trust Fund is established in the Office of the State Treasurer for the purposes of creating a self-sustaining, perpetual fund for tobacco cessation and prevention that is not dependent upon tobacco sales volume.
(2)The Trust Fund shall be composed of:
(A)transfers made by the General Assembly; and
(B)contributions from any other source.
(3)The State Treasurer shall not disburse monies from the Trust Fund, except upon appropriation by the General Assembly. In any fiscal year, total appropriations from the Trust Fund shall not exceed seven percent of the fair market value of the Fund at the end of the prior fiscal year.
(4)The Trust Fund shall be administered by the State Treasurer. The State Treasurer may invest monies in the Fund in accordance with the provisions of
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(a)(1) The Tobacco Trust Fund is established in the Office of the State Treasurer for the purposes of creating a self-sustaining, perpetual fund for tobacco cessation and prevention that is not dependent upon tobacco sales volume.
(2) The Trust Fund shall be composed of:
(A) transfers made by the General Assembly; and
(B) contributions from any other source.
(3) The State Treasurer shall not disburse monies from the Trust Fund, except upon appropriation by the General Assembly. In any fiscal year, total appropriations from the Trust Fund shall not exceed seven percent of the fair market value of the Fund at the end of the prior fiscal year.
(4) The Trust Fund shall be administered by the State Treasurer. The State Treasurer may invest monies in the Fund in accordance with the provisions of 32 V.S.A. § 434. All balances in the Fund at the end of the fiscal year shall be carried forward. Interest earned shall remain in the Fund. The State Treasurer’s annual financial report to the Governor and the General Assembly shall contain an accounting of receipts, disbursements, and earnings of the Fund.
(b) [Repealed.] (Added 1999, No. 152 (Adj. Sess.), § 271, eff. May 29, 2000; amended 2025, No. 27, § F.165, eff. May 21, 2025.)