38-2101. Kansas endowment for youth fund; tobacco litigation settlement agreement proceeds, disposition; investment, management and administration of fund.
38-2101
38-2101. Kansas endowment for youth fund; tobaccolitigation settlement agreement proceeds, disposition; investment, management andadministration of fund.(a) There is hereby established in the state treasury theKansas endowment for youth fundwhich shall constitute a trust fund and shall be invested, managed andadministered in accordance with the provisions of this act by the boardof trustees of the Kansas public employees retirement system established byK.S.A. 74-4905 and amendments thereto.
(b) All of the moneys received by the state pursuant to the tobaccolitigation settlementagreements entered into by the attorney general on behalf of the state ofKansas, or pursuant toany judgment rendered, regarding the litigation against tobacco industrycompanies and relatedentities, shall be deposited in the state treasury and credited to theKansas endowment for youth fund. All suchmoneys shall constitute an endowment which shall remain credited to theKansas endowment for youth fundexcept as provided in this section or in K.S.A. 38-2102 andamendments thereto fortransfers to thechildren's initiativesfund. Expenditures may be made from the Kansas endowment for youth fund for thepaymentof the operating expenses of the Kansas children's cabinet and theboard oftrustees,including theexpenses of investing and managing the moneys,which are attributable to the Kansas endowment for youth fund. All moneyscreditedto the Kansas endowment for youth fund shall be invested to provide an ongoingsource ofinvestment earningsavailable for periodic transfer to the children's initiatives fund inaccordance with this act. All expenditures from the Kansas endowment for youthfund shall be made in accordance withappropriationacts upon warrants of the director of accounts and reports issued pursuant tovouchers approvedby the chairperson of the board of trustees of the Kansas public employeesretirement system or by the chairperson'sdesignee.
(c) On the effective date of this act, the director of accounts and reportsshall transfer allmoneys credited to the children's health care programs fund to theKansas endowment for youth fundand the children's health care programs fund is hereby abolished. On and afterJuly 1, 1999, whenever the children's health care programs fund,or words of like effect, is referred to or designated by statute, contract orother document, such reference or designation shall be deemed to apply to theKansas endowment for youth fund.
History: L. 1999, ch. 172, § 1; July 1.