State of Texas – Fiscal Management

Manual of Accounts

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Fund 0872 – Tobacco Settlement Permanent Trust (Political Subdivisions)
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Legal Citations:
  • Government Code sec. 403.1041
  • The State of Texas v. The American Tobacco Company, et. al, No. 5:96cv91 (U.S. District Court, Texarkana Division)
Origin Date: 1998
Issue Date: 1998-10-21
Revised Date: 2018-04-19

Purpose


To hold the portion of the tobacco settlement money designated for the exclusive benefit of political subdivisions. The lump sum trust account and the permanent trust account are established within the trust fund. The lump sum account will be distributed directly to political subdivisions as directed in the settlement. The permanent trust account will be maintained and the earnings distributed to political subdivisions as directed in the settlement.

Classification Group 08: Trust Funds [?]
Depository Interest Retained in appropriated fund.
Disposition of Balance Accumulative
Appropriation Technique Not appropriated for state expenditure.

Financial Activity


To view this fund's current revenue and expenditure activity by agency or comptroller object code, visit the following links:


Notes


Amended by H.B. 1161, 76th Leg., R.S.



USAS Values


USAS Title TOBACCO SETTLEMT PERM TRUST (POL SUBDIV)
Consolidated Fund
State Fund Group 08 - TRUST FUNDS
USAS Status A
Those funds created to account for assets held by the state in a trustee capacity for individuals, private organizations or other governmental entities


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