The bill establishes the Opioid Litigation Settlement Fund as a separate fund within the state treasury of Alaska. This fund will receive settlement proceeds from opioid manufacturers or distributors, as well as any income generated from the fund itself. The legislature is granted the authority to appropriate these funds for specific purposes related to opioid remediation, in accordance with settlement agreements, and to cover the costs associated with managing the fund.

Additionally, the bill stipulates that the funds within the Opioid Litigation Settlement Fund do not lapse, ensuring that the resources remain available for ongoing opioid remediation efforts. However, it is important to note that the bill clarifies that the establishment of this fund does not create a dedicated fund, meaning that the funds can be utilized at the discretion of the legislature rather than being earmarked for a specific purpose.

Statutes affected:
HB0344A, AM HB 344, introduced 02/23/2026: