2005 Idaho Code - 67-1803 — DISTRIBUTION OF FUNDS. [EFFECTIVE UNTIL APPROVAL OF SJR 107 AT THE GENERAL ELECTION IN NOVEMBER 2006; SEE SECTION 67-1804 FOR VERSION EFFECTIVE UPON APPROVAL OF SJR 107]

                                  TITLE  67
                      STATE GOVERNMENT AND STATE AFFAIRS
                                  CHAPTER 18
                            IDAHO MILLENNIUM FUND
    67-1803.  DISTRIBUTION OF FUNDS. [EFFECTIVE UNTIL APPROVAL OF SJR 107 AT
THE GENERAL ELECTION IN NOVEMBER 2006; SEE SECTION 67-1804 FOR VERSION
EFFECTIVE UPON APPROVAL OF SJR 107]. On the first business day of July, or as
soon thereafter as possible, the state treasurer shall distribute to the Idaho
millennium income fund five percent (5%) of the Idaho millennium fund's
average monthly fair market value for the first twelve (12) months of the
preceding twenty-four (24) months. Provided however, that the distribution
shall not exceed the Idaho millennium fund's fair market value on the first
business day in July.
    67-1803.  IDAHO MILLENNIUM FUND. [EFFECTIVE UPON APPROVAL OF SJR 107 AT
THE GENERAL ELECTION IN NOVEMBER 2006] There is hereby created in the state
treasury the "Idaho Millennium Fund." The fund shall consist of twenty percent
(20%) 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 various states, including 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. Money in the fund is not subject to
appropriation or distribution, except as provided in section 67-1804, 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.