1. (a) This section does not apply to cigarette tax revenues deposited in the retiree health benefit trust fund or the 2027 retiree health benefit trust fund under IC 6-7-1-28.1 (6)(B) after December 31, 2026.

2. (b) The INPRS shall do the following not later than December 31, 2026:

   1. (1) Determine the amount of forthcoming appropriations, revenues, or transfers to the retiree health benefit trust fund under IC 4-12-1 that are not currently needed to meet the obligations of the retiree health benefit plan developed under IC 5-10-8.5 .
   2. (2) Provide written notice of the amount determined under subdivision (1) to the budget agency.
3. (c) This subsection applies after December 31, 2026. Before appropriations, revenues, or transfers under IC 4-12-1 are deposited in the retiree health benefit trust fund, the budget agency shall transfer the amounts determined by the INPRS under subsection (b)(1) to the state general fund. The budget agency shall deposit the remainder of the appropriations, revenues, or transfers in the retiree health benefit trust fund or the 2027 retiree health benefit trust fund.

As added by P.L.104-2026, SEC.5.