WVC 4 - 11 A- 3
§4-11A-3. Receipt of settlement funds and required deposit in the
West Virginia Tobacco Settlement Fund.
(a) There is hereby created in the State Treasury a special
revenue account, designated the Tobacco Settlement Fund, which
shall be an interest-bearing account and may be invested in the
manner permitted by the provisions of article six, chapter twelve
of this code, with the interest income a proper credit to the fund.
Unless contrary to federal law, fifty percent of all revenues
received pursuant to the master settlement agreement shall be
deposited in this fund. These funds shall be available only upon
appropriation by the Legislature as part of the state budget:
That for the fiscal year two thousand, the first five
million dollars received into the fund shall be transferred to the
Public Employees Insurance Reserve Fund created in article two,
chapter five-a of this code.
(b) Appropriations from the Tobacco Settlement Fund are
limited to expenditures for the following purposes:
(1) Reserve funds for continued support of the programs
offered by the Public Employees Insurance Agency established in
article sixteen, chapter five of this code;
(2) Funding for expansion of the federal-state Medicaid
program as authorized by the Legislature or mandated by the federal
(3) Funding for public health programs, services and agencies;
(4) Funding for any state-owned or -operated health
(c) Notwithstanding anything in this code to the contrary, on
the effective date of the sale of the state's share to the
authority as authorized in this article, the deposits and transfers
provided in this section shall cease and no longer be required.
Note: WV Code updated with legislation passed through the 2012 1st Special Session