There is established a separate nonlapsible trust fund designated as the permanent endowment fund, consisting of all of the proceeds from the sale of the state’s right to receive payments under the Attorneys General Master Tobacco Settlement Agreement of November 23, 1998, and all investment earnings on the proceeds. Any revenues or proceeds that are derived from the repurchase by the state of the tobacco settlement revenues under s. 16.527 (3) (c) 1. are also deposited into the permanent endowment fund. Beginning in the 2021-22 fiscal year, there is transferred from the permanent endowment fund to the Medical Assistance trust fund all of the moneys deposited into the permanent endowment fund in each fiscal year, except that beginning in the 2023-24 fiscal year, the amount of the transfer is reduced by the amount appropriated under s. 20.566 (1) (v) for that fiscal year.
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