An annual meeting of the Tobacco Settlement Permanent Trust Account Investment Advisory Committee (investment advisory committee) shall be held on or before April 1st of each calendar year. The comptroller shall report to the investment advisory committee the performance of the Tobacco Settlement Permanent Trust Account (trust account) for the preceding calendar year. The investment advisory committee shall adopt the actual distribution amount to be used by the comptroller to make the distributions from the trust account to the political subdivisions.

Source Note:The provisions of this §18.3 adopted to be effective November 16, 2000, 25 TexReg 11292.