(1) The 2020 tax holding fund is hereby created in the state treasury. The fund consists of money credited to the fund pursuant to sections 39-28-110 (1)(b), 39-28.5-108 (1)(b), and 39-28.6-109 (2). (2) The state treasurer shall transfer the money in the 2020 tax holding fund as follows: (a) For the fiscal year commencing on July 1, 2020: (I) Five million four hundred seventy-five thousand dollars to the tobacco tax cash fund created in section 24-22-117 (1); (II) Two million twenty-five thousand dollars to the general fund; (III) Eleven million one hundred sixty-six thousand dollars to the housing development grant fund created in section 24-32-721 (1); (IV) Five hundred thousand dollars to the eviction legal defense fund created in section 13-40-127 (2); (V) Twenty-five million dollars to the rural schools cash fund created in section 22-54- 142; and (VI) The remainder to the state education fund created in section 17 (4) of article IX of the state constitution. (b) For the fiscal year commencing on July 1, 2021: (I) Ten million nine hundred fifty thousand dollars to the tobacco tax cash fund created in section 24-22-117 (1); (II) Four million fifty thousand dollars to the general fund; (III) Eleven million one hundred sixty-seven thousand dollars to the housing development grant fund created in section 24-32-721 (1); (IV) Five hundred thousand dollars to the eviction legal defense fund created in section 13-40-127 (2); (V) Thirty million dollars to the rural schools cash fund created in section 22-54-142; and (VI) The remainder to the state education fund created in section 17 (4) of article IX of the state constitution; (c) For the fiscal year commencing on July 1, 2022: (I) Ten million nine hundred fifty thousand dollars to the tobacco tax cash fund created in section 24-22-117 (1); (II) Four million fifty thousand dollars to the general fund; (III) Eleven million one hundred sixty-seven thousand dollars to the housing development grant fund created in section 24-32-721 (1); (IV) Five hundred thousand dollars to the eviction legal defense fund created in section 13-40-127 (2); (V) Thirty-five million dollars to the rural schools cash fund created in section 22-54- 142; and (VI) The remainder to the state education fund created in section 17 (4) of article IX of the state constitution; (d) For the fiscal year commencing on July 1, 2023: (I) Ten million nine hundred fifty thousand dollars to the tobacco tax cash fund created in section 24-22-117 (1); (II) Four million fifty thousand dollars to the general fund; and (III) The remainder to the preschool programs cash fund created in section 26.5-4-209; (e) For each fiscal year commencing on or after July 1, 2024, but before July 1, 2027: (I) Ten million nine hundred fifty thousand dollars to the tobacco tax cash fund created in section 24-22-117 (1); (II) Four million fifty thousand dollars to the general fund; (III) Twenty million dollars to the tobacco education programs fund created in section 24-22-117 (2)(c)(I); and (IV) The remainder to the preschool programs cash fund created in section 26.5-4-209; (f) For each fiscal year commencing on or after July 1, 2027: (I) Ten million nine hundred fifty thousand dollars to the tobacco tax cash fund created in section 24-22-117 (1); (II) Four million fifty thousand dollars to the general fund; (III) Thirty million dollars to the tobacco education programs fund created in section 24- 22-117 (2)(c)(I); and (IV) The remainder to the preschool programs cash fund created in section 26.5-4-209; (g) The state treasurer shall make the transfers required by this subsection (2) on an ongoing basis throughout the fiscal year. If there is insufficient revenue to transfer the specific amounts required by this subsection (2) for a fiscal year, then the state treasurer shall proportionally reduce each of the transfers. (3) Repealed. (4) The state auditor shall annually conduct a financial audit of the use of the money allocated and appropriated under this section.
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