Section 143C-9-3 - Settlement Reserve Fund(a) The "Settlement Reserve Fund" is established as a special fund to receive proceeds from tobacco litigation settlement agreements or final orders or judgments of a court in litigation between tobacco companies and the states.(a1) Each year, the sum of twenty-five million dollars ($25,000,000) from the Settlement Reserve Fund is appropriated to The Golden L.E.A.F. (Long-Term Economic Advancement Foundation), Inc., a nonprofit corporation, and these funds shall not be subject to G.S. 143C-6-23. The remainder of the funds credited to the Settlement Reserve Fund each fiscal year shall be transferred to the General Fund and included in General Fund availability as nontax revenue.(b), (c) Repealed by Session Laws 2011-145, s. 6.11(i), effective July 1, 2011.(d) Unless prohibited by federal law, federal funds provided to the State by block grant or otherwise as part of federal legislation implementing a settlement between United States tobacco companies and the states shall be credited to the Settlement Reserve Fund. Unless otherwise encumbered or distributed under a settlement agreement or final order or judgment of the court, funds paid to the State or a State agency pursuant to a tobacco litigation settlement agreement, or a final order or judgment of a court in litigation between tobacco companies and the states, shall be credited to the Settlement Reserve Fund.N.C. Gen. Stat. § 143C-9-3
Amended by 2023 N.C. Sess. Laws 134,s. 2.2-s, eff. 7/1/2023.Amended by 2017 N.C. Sess. Laws 57, s. 6.5, eff. 7/1/2017.Amended by 2016 N.C. Sess. Laws 94, s. 6.6, eff. 7/1/2016.Amended by 2015 N.C. Sess. Laws 268, s. 1.2, eff. 7/1/2015.Amended by 2015 N.C. Sess. Laws 241, s. 6.24-a, eff. 7/1/2015.Amended by 2013 N.C. Sess. Laws 363, s. 1.5, eff. 7/1/2013.Amended by 2013 N.C. Sess. Laws 360, s. 6.4-e, eff. 7/1/2013.Amended by 2011 N.C. Sess. Laws 145, s. 6.11-i, eff. 7/1/2011.Added by 2006 N.C. Sess. Laws 203, s. 3, eff. 7/1/2007.