FIRST REGULAR SESSION
SENATE BILL NO. 362
91ST GENERAL ASSEMBLY
INTRODUCED BY SENATORS HOUSE, KENNEY, BENTLEY, STOLL AND FOSTER.
Read 1st time January 23, 2001, and 1,000 copies ordered printed.
TERRY L. SPIELER, Secretary.
1442S.01I
AN ACT
To amend chapter 196, RSMo, by adding thereto one new section relating to the establishment of the Missouri tobacco settlement trust fund.
Section A. Chapter 196, RSMo, is amended by adding thereto one new section, to be known as section 196.1014, to read as follows:
196.1014. 1. There is hereby created in the state treasury the "Missouri Tobacco Settlement Trust Fund".
2. The state treasurer shall deposit in the Missouri tobacco settlement trust fund all moneys received by the state of Missouri which are the proceeds of any award or settlement resulting from any dispute between the state and any company which manufactures, sells or promotes tobacco or tobacco products.
3. Notwithstanding the provisions of section 33.080, RSMo, to the contrary, moneys deposited in the Missouri tobacco settlement trust fund, including any interest thereon, shall not revert to the credit of the general revenue fund at the end of the biennium.
4. At least twenty-five percent of the moneys deposited in the Missouri tobacco settlement trust fund, including any interest thereon, shall be appropriated annually by the general assembly to the public schools of this state pursuant to this subsection, to be used as the school districts see fit. The moneys appropriated pursuant to this subsection shall be distributed to each school district on a per eligible pupil basis and shall accrue to the operating funds of the school district; provided that, up to fifteen percent of the moneys distributed to a district pursuant to this subsection may, at the district's discretion, be placed in the district's capital projects fund. Any moneys placed in the district's capital projects fund pursuant to this subsection shall be exempt from salary compliance pursuant to section 165.016, RSMo.
5. The commissioner of administration shall maintain data in an electronic format on receipts to and expenditures from the Missouri tobacco settlement trust fund. Such data shall be updated at least quarterly, shall indicate expenditures by object type and class, and shall be available to the public on the Internet.