Chapter 986 Oregon Laws 2001

AN ACT

HB 3951

Relating to state finance; appropriating money; and declaring an emergency.

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

SECTION 1. There is established in the State Treasury, separate and distinct from the General Fund, the Health Care Trust Fund. The Health Care Trust Fund shall consist of moneys, in amounts directed by the Legislative Assembly, paid to this state by United States tobacco products manufacturers under the Master Settlement Agreement of 1998.

SECTION 2. All earnings on moneys in the Health Care Trust Fund are continuously appropriated to the Oregon Department of Administrative Services and shall be expended only for the purpose of financing health programs.

SECTION 3. Moneys in the Health Care Trust Fund shall be invested as provided in ORS 293.701 to 293.790 and the earnings from such investments shall be credited to the fund. Earnings shall be distributed annually or as directed by the Director of the Oregon Department of Administrative Services.

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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