Chapter 977 Oregon Laws 2001

AN ACT

HB 2450

Relating to the Tobacco Settlement Funds Account; appropriating money; and declaring an emergency.

Be It Enacted by the People of the State of Oregon:

SECTION 1. The Tobacco Settlement Funds Account is established as an account in the General Fund. The account shall consist of all moneys paid to this state by United States tobacco products manufacturers under the Master Settlement Agreement of 1998.

SECTION 2. All moneys in the Tobacco Settlement Funds Account are continuously appropriated to the Oregon Department of Administrative Services to be expended as directed by the Legislative Assembly.

SECTION 3. All moneys in the Tobacco Settlement Funds Account shall be invested as provided in ORS 293.701 to 293.790.

SECTION 4. This 2001 Act being necessary for the immediate preservation of the public peace, health and safety, an emergency is declared to exist, and this 2001 Act takes effect July 1, 2001.

Approved by the Governor August 16, 2001

Filed in the office of Secretary of State August 16, 2001

Effective date August 16, 2001

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