(a)  Notwithstanding any other provision of law, there shall be transferred annually from the General Fund to the Tobacco Settlement Fund an amount, not to exceed one hundred million dollars ($100,000,000) out of funds not otherwise appropriated, as a loan to cover appropriations from the fund when moneys from the Master Settlement Agreement have not been received by the state.

(b)  This loan from the General Fund shall be repaid on or before June 30 of each year, without interest, from the funds received pursuant to the Master Settlement Agreement.

Terms Used In California Health and Safety Code 104898.5

  • Fund: means the Tobacco Settlement Fund. See California Health and Safety Code 104896
  • Master Settlement Agreement: means the settlement agreement and related documents entered into on November 23, 1998, by the state and leading United States tobacco product manufacturers. See California Health and Safety Code 104896
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23

(Amended by Stats. 2003, Ch. 230, Sec. 9. Effective August 11, 2003.)

  Previous section
Next section  
 Part 3.5 Contents