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19-5-1117. Arkansas Tobacco Settlement Commission Fund.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-5-1117. Arkansas Tobacco Settlement Commission Fund.
(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the “Arkansas Tobacco Settlement Commission Fund”.
(b)(1) The Arkansas Tobacco Settlement Commission Fund shall consist of investment earnings transferred from the Tobacco Settlement Program Fund and each of the Tobacco Settlement Program Accounts as provided in § 19-12-108 and interest earnings.
(2) The Arkansas Tobacco Settlement Commission Fund shall be used for those purposes set out in § 19-12-108, administered by the State Board of Finance.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-5-1117
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:19-5-1117
Source file: gov.ar.code.title.19.odt
Pages: Not recorded – Not recorded
Passage SHA-256: f99b003b2256399b040db55e1669ff7ac499362d9dfaf4cf3bde44a303a925b8
Source location: content.xml paragraph 8741
Stored source content
19-5-1117. Arkansas Tobacco Settlement Commission Fund.
(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the “Arkansas Tobacco Settlement Commission Fund”.
(b)(1) The Arkansas Tobacco Settlement Commission Fund shall consist of investment earnings transferred from the Tobacco Settlement Program Fund and each of the Tobacco Settlement Program Accounts as provided in § 19-12-108 and interest earnings.
(2) The Arkansas Tobacco Settlement Commission Fund shall be used for those purposes set out in § 19-12-108, administered by the State Board of Finance.
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Arkansas Code — all titles (historical 2020) · legal_authorities
19-12-108. Creation and administration of the Tobacco Settlement Program Fund.
(a) There is hereby created and established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a trust fund to be known as the “Tobacco Settlement Program Fund”, which fund shall be administered by the State Board of Finance. All moneys deposited into the Tobacco Settlement Program Fund are hereby restricted in their use and to be used solely as provided in this chapter. All expenditures and obligations that are payable from the Tobacco Settlement Program Fund and from each of the program accounts shall be subject to the same fiscal control, accounting, budgetary, and purchasing laws as are expenditures and obligations payable from other State Treasury funds, except as specified otherwise in this chapter. The Chief Fiscal Officer of the State may require additional controls, procedures, and reporting requirements that he or she determines are necessary to carry out the intent of this chapter.
(b) There shall be transferred from the Tobacco Settlement Cash Holding Fund to the Tobacco Settlement Program Fund the amounts set forth for such transfer as provided in § 19-12-104.
(c) Amounts deposited into the Tobacco Settlement Program Fund shall, prior to the distribution to the program accounts set forth in § 19-12-108(d)(1), be held and invested in investments pursuant to and in compliance with § 19-12-103(c); provided, that all such investments must mature or be redeemable without penalty on or prior to the next-succeeding June 30.
(d)(1) On each July 1, the amounts deposited into the Tobacco Settlement Program Fund, excluding investment earnings, shall be transferred to the various program accounts as follows:
(A) Fifteen and eight
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-12-108
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 19-12-108. This identifies an authority to review, not proof of applicability.