(a) There is hereby established in the State Treasury the Tobacco Settlement Fund.
(b) In the 2001–02 fiscal year, four hundred one million nine hundred ninety-two thousand dollars ($401,992,000) of the state’s share of funds received pursuant to the Master Settlement Agreement shall be deposited in the fund.
(c) Except as provided in Article 7 (commencing with Section 63049) of Chapter 2 of Division 1 of Title 6.7 of the Government Code, commencing July 1, 2002, the total amount of the state’s share of moneys received pursuant to the Master Settlement Agreement shall be deposited in the fund.
(Amended by Stats. 2002, Ch. 414, Sec. 3. Effective January 1, 2003.)