Creation and administration of Fund; appropriation and expenditure of contents.
1. The Fund for a Healthy Nevada is hereby created in the State Treasury. The State Treasurer shall deposit in the Fund:
(a) Fifty 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) Fifty 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. Upon receiving a request from the State Treasurer or the Department for an allocation for administrative expenses from the Fund pursuant to this section, the Task Force for the Fund for a Healthy Nevada shall consider the request within 45 days after receipt of the request. If the Task Force approves the amount requested for allocation, the Task Force shall notify the State Treasurer of the allocation. If the Task Force does not approve the requested allocation within 45 days after receipt of the request, the State Treasurer or the Department, as applicable, may submit its request for allocation to the Interim Finance Committee. 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, whether allocated by the Task Force or the Interim Finance Committee must not exceed:
(a) Not more than 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 more than 3 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 Services Division of the Department, to carry out its duties set forth in NRS 439.625 to 439.690, inclusive.
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 the Department and, except as otherwise provided in paragraphs (c), (d) and (h) of subsection 1 of NRS 439.630, may only be expended pursuant to an allocation made by the Task Force for the Fund for a Healthy Nevada. Money expended from the Fund for a Healthy Nevada must not be used to supplant existing methods of funding that are available to public agencies.
Last modified: February 26, 2006