This bill proposes the creation of the "Tobacco Cessation Initiative Program Special Revenue Account" within the State Treasury, which will be managed by the Director of the Bureau for Public Health. The funds deposited into this account will be specifically allocated for the purposes outlined in the Tobacco Cessation Initiative article. Notably, for the fiscal year ending June 30, 2025, expenditures from this account will be authorized from collections rather than requiring legislative appropriation. Additionally, any remaining balance in the fund at the end of each fiscal year will not revert to the General Revenue Fund but will stay in the account for future use.

Furthermore, the bill mandates that by July 30, 2025, and each subsequent July 30, $5 million from the interest and returns accrued on the moneys in the Revenue Shortfall Reserve Fund Part B will be transferred to the Tobacco Cessation Initiative Program Special Revenue Account. This amount is designated for exclusive use in supporting the objectives of the Tobacco Cessation Initiative.

Statutes affected:
Introduced Version: 16-9G-3