Nevada Revised Statutes 439.620 – Creation and administration of Fund; appropriation and expenditure of contents
1. The Fund for a Healthy Nevada is hereby created in the State Treasury. The State Treasurer shall deposit in the Fund:
Terms Used In Nevada Revised Statutes 439.620
- Administrator: means the Administrator of the Division. See Nevada Revised Statutes 439.005
- Contract: A legal written agreement that becomes binding when signed.
- Department: means the Department of Health and Human Services. See Nevada Revised Statutes 439.005
- Division: means the Division of Public and Behavioral Health of the Department. See Nevada Revised Statutes 439.005
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- 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.
(a) Sixty percent of all money received by this State pursuant to any settlement entered into by the State of Nevada and a manufacturer of tobacco products; and
(b) Sixty percent of all money recovered by this State from a judgment in a civil action against a manufacturer of tobacco products.
2. The State Treasurer shall administer the Fund. As administrator of the Fund, the State Treasurer:
(a) Shall maintain the financial records of the Fund;
(b) Shall invest the money in the Fund as the money in other state funds is invested;
(c) Shall manage any account associated with the Fund;
(d) Shall maintain any instruments that evidence investments made with the money in the Fund;
(e) May contract with vendors for any good or service that is necessary to carry out the provisions of this section; and
(f) May perform any other duties necessary to administer the Fund.
3. The interest and income earned on the money in the Fund must, after deducting any applicable charges, be credited to the Fund. All claims against the Fund must be paid as other claims against the State are paid.
4. The State Treasurer or the Department may submit to the Interim Finance Committee a request for an allocation for administrative expenses from the Fund pursuant to this section. Except as otherwise limited by this subsection, the Interim Finance Committee may allocate all or part of the money so requested. The annual allocation for administrative expenses from the Fund must:
(a) Not exceed 2 percent of the money in the Fund, as calculated pursuant to this subsection, each year to pay the costs incurred by the State Treasurer to administer the Fund; and
(b) Not exceed 5 percent of the money in the Fund, as calculated pursuant to this subsection, each year to pay the costs incurred by the Department, including, without limitation, the Aging and Disability Services Division of the Department, to carry out its duties set forth in NRS 439.630 and to administer the provisions of NRS 439.635 to 439.690, inclusive. For the purposes of this subsection, the amount of money available for allocation to pay for the administrative costs must be calculated at the beginning of each fiscal year based on the total amount of money anticipated by the State Treasurer to be deposited in the Fund during that fiscal year.
5. The money in the Fund remains in the Fund and does not revert to the State General Fund at the end of any fiscal year.
6. All money that is deposited or paid into the Fund is hereby appropriated to be used for any purpose authorized by the Legislature or by the Department for expenditure or allocation in accordance with the provisions of NRS 439.630. Money expended from the Fund must not be used to supplant existing methods of funding that are available to public agencies.