(a)  Beginning January 1, 2016, a portion of the amount collected pursuant to §?42-7.4-3, up to the actual amount expended or projected to be expended by the state for vaccines for children that are recommended by the Advisory Committee on Immunization Practices (ACIP), the American Academy of Pediatrics (AAP), and/or mandated by state law, less the federal share determined by the Centers for Disease Control and Prevention, less any amount collected in excess of the prior year’s funding requirement as indicated in subsection (b) (the “child immunization funding requirement”) shall be deposited into the “childhood immunization account” described in §?23-1-45(a). These funds shall be used solely for the purposes of the “childhood immunization programs” described in §?23-1-44, and no other. Beginning January 1, 2016, a portion of the amount collected from the healthcare services funding method described in §?42-7.4-3, up to the actual amount expended or projected to be expended by the state for adult immunizations recommended by ACIP and/or mandated by state law, less the federal share determined by the Centers for Disease Control and Prevention, less any amount collected in excess of the prior year’s funding requirement as indicated in subsection (b) (the “adult immunization funding requirement”) shall be deposited into the “adult immunization account” described in §?23-1-45(c). These funds shall be used solely for the purposes of the “adult immunization programs” described in §?23-1-44 and no other.

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(b)  The department of health shall submit to the general assembly an annual report on the immunization programs and costs related to the programs, on or before February 1 of each year.

Any funds collected in excess of funds needed to carry-out ACIP recommendations, taking into account a reasonable annual carry forward surplus, shall be deducted from the subsequent year’s funding requirements.