Subd. 1. Establishment; purpose.

The tobacco settlement fund is established as a clearing account in the state treasury.

Subd. 2. Deposit of money.

The commissioner shall credit to the tobacco settlement fund the tobacco settlement payments received by the state on September 5, 1998, January 4, 1999, January 3, 2000, January 2, 2001, January 2, 2002, and January 2, 2003, as a result of the settlement of the lawsuit styled as State v. Philip Morris Inc., No. C1-94-8565 (Minnesota District Court, Second Judicial District).

Subd. 3. Appropriation.

1. (a) Of the amounts credited to the fund prior to January 2, 2002, 61 percent is appropriated for transfer to the tobacco use prevention and local public health endowment fund created in section 144.395 and 39 percent is appropriated for transfer to the medical education endowment fund created in section 62J.694.
2. (b) The entire amount credited to the fund from the payment made on January 2, 2002, and January 2, 2003, is appropriated for transfer to the academic health center account under section 62J.694, subdivision 1, paragraph (b), in the medical education endowment fund created under section 62J.694, subdivision 1.

Subd. 4. Sunset.

The tobacco settlement fund expires June 30, 2004.