§ 9-4-1203 — Tobacco settlement trust fund established; corpus inviolate; investment by state treasurer

(a) The Wyoming tobacco settlement trust fund is created.
The Wyoming tobacco settlement trust fund shall consist of:
(i) All funds received by the state of Wyoming prior
to March 15, 2002 as financial recovery under the terms of the
master settlement agreement regarding litigation between several
states and major tobacco manufacturers, which settlement
agreement was approved by the state of Wyoming in November 1998;
and
(ii) Any other funds appropriated or designated to
the fund by law or by gift from whatever source.
(b) Funds deposited into the Wyoming tobacco settlement
trust fund established pursuant to subsection (a) of this
section are intended to be inviolate and constitute a permanent
or perpetual trust fund which shall be invested by the state
treasurer as authorized by law and in a manner to obtain the
highest net return possible consistent with preservation of the
corpus. Any earnings from investment of the corpus of the trust
fund and all funds received by the state of Wyoming on or after
March 15, 2002 as financial recovery under the terms of the
master settlement agreement specified in paragraph (a)(i) of
this section shall be credited by the state treasurer into a
separate income account.
(c) Revenues deposited into the income account established
under subsection (b) shall be expended:
(i) Only for purposes related to the improvement of
the health of Wyoming's citizens including:
(A) Efforts in prevention and cessation of
tobacco use through school and community based programs; and
(B) Efforts to establish and implement programs
to prevent, intervene in, and otherwise limit alcohol and
substance abuse; and
(ii) Only upon appropriation by the legislature.
(d) Funds not otherwise appropriated, expended or
obligated as provided in subsection (c) of this section shall be
transferred to the Wyoming tobacco settlement trust fund on July
1 of each year following the receipt of those funds.