(1) As used in this section: (a) "Fund" means the Opioid Litigation Proceeds Fund created in this section. (b) (i) "Principal" means money deposited into the fund in accordance with this section. (ii) "Principal" does not include: (A) earnings credited to the fund, including interest and dividends; or (B) up to $21 million of money described in Subsection (4) that the Legislature allocated through July 1, 2026, to be spent for various purposes through June 30, 2027. (2) There is created the Opioid Litigation Proceeds Fund. (3) The fund consists of: (a) any money deposited into the fund in accordance with Subsection (4); (b) interest and dividends earned on money in the fund; and (c) money appropriated to the fund by the Legislature. (4) Notwithstanding Sections 13-2-109 and 67-5-40, after reimbursement to the attorney general and the Department of Commerce for expenses related to the matters described in Subsection (4)(a) or (b), the following shall be deposited into the fund: (a) all money received by the attorney general or the Department of Commerce as a result of any judgment, settlement, or compromise of claims pertaining to alleged violations of law related to the manufacture, marketing, distribution, or sale of opioids from a case designated as an opioid case by the attorney general in a legal services contract; and (b) all money received by the attorney general or the Department of Commerce as a result of any multistate judgment, settlement, or compromise of claims pertaining to alleged violations of law related to the manufacture, marketing, distribution, or sale of opioids. (5) The state treasurer shall: (a) invest the money in the fund: (i) for the benefit of the people of the state in perpetuity; and (ii) with the following goals, in order of priority: (A) providing for growth of the principal; and (B) fund stability; and (b) invest and manage fund money as a prudent investor would by: (i) considering the purpose, terms, distribution requirements, and other circumstances of the fund; and (ii) exercising reasonable care, skill, and caution in order to meet the standard of care of a prudent investor. (6) The state treasurer may deduct any administrative costs incurred by managing the fund from earnings generated by investments in the fund. (7) (a) The Legislature may not appropriate principal from the fund. (b) Subject to appropriation by the Legislature, money in the account other than principal shall be used: (i) to address the effects of alleged violations of law related to the manufacture, marketing, distribution, or sale of opioids; or (ii) if applicable, in accordance with the terms of a settlement agreement described in Subsection (4)(a) or (b) entered into by the state.
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