2005 Idaho Code - 67-1801 — IDAHO MILLENNIUM FUND. [EFFECTIVE UNTIL APPROVAL OF SJR 107 AT THE GENERAL ELECTION IN NOVEMBER 2006; SEE SECTION 67-1803 FOR VERSION EFFECTIVE UPON APPROVAL OF SJR 107]

                                  TITLE  67
                      STATE GOVERNMENT AND STATE AFFAIRS
                                  CHAPTER 18
                            IDAHO MILLENNIUM FUND
    67-1801.  IDAHO MILLENNIUM FUND. [EFFECTIVE UNTIL APPROVAL OF SJR 107 AT
THE GENERAL ELECTION IN NOVEMBER 2006; SEE SECTION 67-1803 FOR VERSION
EFFECTIVE UPON APPROVAL OF SJR 107]. There is hereby created in the state
treasury the "Idaho Millennium Fund." The fund shall consist of all moneys
distributed to the state pursuant to the master settlement agreement entered
into between tobacco product manufacturers and various states, including
Idaho, and such moneys as may be provided by legislative appropriations. Money
in the fund is not subject to appropriation or distribution, except as
provided in sections 67-1802 and 67-1803, Idaho Code. Fund assets shall be
invested by the state treasurer according to the standards of the Idaho
uniform prudent investor act, chapter 5, title 68, Idaho Code, and the state
treasurer is hereby granted the authority to invest the assets of the Idaho
millennium fund in any investment instruments authorized by the standards of
the Idaho uniform prudent investor act.
    67-1801.  IDAHO MILLENNIUM PERMANENT ENDOWMENT FUND. [EFFECTIVE UPON
APPROVAL OF SJR 107 AT THE GENERAL ELECTION IN NOVEMBER 2006] (1) There is
hereby created in the state treasury the "Idaho Millennium Permanent Endowment
Fund." The fund shall consist of eighty percent (80%) of the moneys received
by the state of Idaho on and after January 1, 2007, pursuant to the master
settlement agreement entered into between tobacco product manufacturers and
the state of Idaho, and such moneys as may be provided by legislative
appropriations or otherwise directed to the fund by the legislature, including
other moneys or assets that the fund receives by bequest or donation.
    (2)  The moneys received annually for deposit to the fund, including
earnings, shall forever remain inviolate and intact. No portion of the fund
shall ever be transferred to any other fund, or used, or appropriated, except
as allowed by the provisions of section 18, article VII of the constitution of
the state of Idaho and as directed by the provisions of section 67-1802, Idaho
Code.
    (3)  Fund assets shall be invested by the state treasurer according to the
standards of the Idaho uniform prudent investor act, chapter 5, title 68,
Idaho Code, and the state treasurer is hereby granted authority to invest the
assets of the fund in any investment instruments authorized by the standards
of the Idaho uniform prudent investor act.