1. Fund established; purpose; source of funds. The Maine Mass Violence Care Fund, referred to in this chapter as "the fund," is established within the Department of the Attorney General as an Other Special Revenue Funds account. The purpose of the fund is to provide a sustainable source of funds for expenses eligible for reimbursement by the Victims' Compensation Board established under section 3360-A arising from a mass violence crime pursuant to chapter 316-A that are not paid for by insurance or any other source. The fund is funded through appropriations and allocations and may receive private donations and federal and state funds designated by law for the payment of claims and reasonable administrative costs of the fund. Eligible investment earnings credited to the assets of the fund become part of the assets of the fund. [PL 2023, c. 643, Pt. N, §3 (NEW).] 2. Administration and investment of fund. The fund is administered by the Treasurer of State in accordance with this subsection. A. In consultation with the Attorney General, the Treasurer of State may hold, invest, reinvest and manage the fund in a manner that fulfills the purpose of the fund as long as the investment and reinvestment of funds is in compliance with section 138 and the Maine Uniform Trust Code, including the Maine Uniform Prudent Investor Act. [PL 2023, c. 643, Pt. N, §3 (NEW).] B. All costs of administering the fund, including the necessary and proper expenses incurred by the Treasurer of State in administering the fund, must be paid from the fund. [PL 2023, c. 643, Pt. N, §3 (NEW).] C. The Treasurer of State, the Attorney General and the Victims' Compensation Board established in section 3360-A may not encumber, invest, divest or disburse funds for any purpose not specifically included in this section. [PL 2023, c. 643, Pt. N, §3 (NEW).] [PL 2023, c. 643, Pt. N, §3 (NEW).] 3. Distributions from fund. The Victims' Compensation Board established under section 3360-A shall make distributions from the fund in accordance with chapter 316-A and rules establishing eligibility criteria adopted by the board. A. Only gains, interest, dividends and other revenue earned on funds in the fund and any amounts gifted to the fund may be expended. [PL 2023, c. 643, Pt. N, §3 (NEW).] B. Payments from the fund to a victim for eligible expenses, as set forth in section 3360-E, may not be made sooner than 3 years after the applicable mass violence crime. [PL 2023, c. 643, Pt. N, §3 (NEW).] [PL 2023, c. 643, Pt. N, §3 (NEW).] 4. Rules. The board may adopt rules to implement the provisions of this section including establishing eligibility criteria. [PL 2023, c. 643, Pt. N, §3 (NEW).] 5. Annual report. The Attorney General and the Treasurer of State shall report to the joint standing committee of the Legislature having jurisdiction over judiciary matters by February 1st of each year regarding implementation of the fund, including procedures developed by the Victims' Compensation Board, total revenue available for reimbursement of eligible claims and annual expenditures from the fund. [PL 2023, c. 643, Pt. N, §3 (NEW).]
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