This bill proposes to increase the annual allocation of cigarette and other tobacco products tax revenues to the New Jersey Commission on Cancer Research (NJCCR) from $1 million to $10 million. It establishes a dedicated, non-lapsing Cancer Research Fund within the Department of the Treasury, which will serve as the repository for these funds and any additional funds approved by the Department of Health or the NJCCR. The bill mandates that at least $5 million of the fund be allocated for general cancer research and another $5 million for pediatric cancer research projects authorized by the commission.

Additionally, the bill repeals the existing lapsing Cancer Research Fund and replaces it with the new non-lapsing, revolving fund. The State Treasurer will act as the custodian of this fund, overseeing all disbursements, which will be made upon vouchers signed by the chairperson of the NJCCR or their designee. The funds will be invested similarly to other trust funds, with any interest earned credited back to the Cancer Research Fund. This legislative change aims to ensure a stable and dedicated source of funding for cancer research initiatives in New Jersey.

Statutes affected:
Introduced: 54:40A-37.1, 52:9U-8