Virginia Tobacco Settlement Foundation Funding (language only)

Item 3-1.02 #1s

Language
Page 612, line 28, before "The" insert "A.".
Page 612, after line 29, insert:
"B.  The State Comptroller shall transfer on or before June 30, 2010, $7,309,000 to the Virginia Health Care Fund for the state share of Medicaid spending."

Explanation
(This amendment diverts $7.3 million in FY 2010 from the Virginia Tobacco Settlement Fund (VTSF) to the Virginia Health Care Fund (VHCF) to pay for the state share of Medicaid costs. Funding for marketing, community-based providers, research grants and operations will be reduced by one-half as a result of this amendment. The VTSF receives 10 percent of the Master Settlement Agreement, while 50 percent goes to the Tobacco Indemnification and Community Revitalization Commission and 40 percent is deposited to the VHCF.)