Tex.
Gov't Code Section 403.506
Opioid Abatement Trust Fund
(a)
The opioid abatement trust fund is a trust fund established outside of the state treasury for the purposes of this subchapter that is administered by the trust company. The trust company may authorize money from the fund to be invested with money from the state treasury.(b)
The fund consists of:(1)
money obtained under a statewide opioid settlement agreement and deposited in the fund under Section 403.507 (Deposit and Allocation of Settlement Money; Effect of Bankruptcy); and(2)
interest, dividends, and other income of the fund.(c)
The trust company shall:(1)
distribute to counties and municipalities to address opioid-related harms in those communities an amount equal to 15 percent of the total amount of money obtained under a statewide opioid settlement agreement and distributed to the fund and the account under Section 403.507 (Deposit and Allocation of Settlement Money; Effect of Bankruptcy); and(2)
allocate an amount equal to 70 percent of the total amount of money obtained under a statewide opioid settlement agreement and distributed to the fund and the account under Section 403.507 (Deposit and Allocation of Settlement Money; Effect of Bankruptcy) as follows:(A)
$5 million of the amount distributed to the fund to the Texas Access to Justice Foundation to be expended only on the order of the Supreme Court of Texas for the purpose of providing basic civil legal services to indigent persons directly impacted by opioid-use disorders, including children who need basic civil legal services as a result of opioid-use disorders by a parent, legal guardian or caretaker; and(B)
the remainder of that 70 percent to the council.(d)
The trust company shall distribute money allocated under Subsection (c)(2) at the direction of the council.(e)
The council shall provide to the trust company an annual forecast of money deposited and withdrawn from the fund and provide updates to the forecast as appropriate to ensure the trust company is able to achieve the council’s directives.(f)
In investing money from the fund and subject to the council’s direction, the trust company has the same investment authority with respect to the fund as the comptroller has under Sections 404.0241 (Investment of Certain Economic Stabilization Fund Balances)(a) and (c) with respect to the economic stabilization fund.
Source:
Section 403.506 — Opioid Abatement Trust Fund, https://statutes.capitol.texas.gov/Docs/GV/htm/GV.403.htm#403.506 (accessed Jun. 5, 2024).
