(1) The state dental loan repayment program shall be funded by moneys appropriated by the general assembly specifically for said program, moneys transferred thereto pursuant to subsection (2) of this section, and any matching funds or contributions received from any public or private sources. Such funds shall be transmitted to the treasurer, who shall credit the same to the state dental loan repayment fund, which fund is hereby created. At the end of any fiscal year, all unexpended and unencumbered moneys in the fund shall remain therein and shall not be credited or transferred to the general fund or any other fund. Moneys in the fund shall be used to provide loan repayment assistance to eligible dental professionals. Moneys in the fund may also be used to pay for the administrative costs of the department of public health and environment to implement the loan repayment program; except that administrative costs shall not exceed ten percent.
(2) (a) Except as otherwise provided in subsection (2)(b) of this section, pursuant to section 24-75-1104.5 (1.7)(m)(I), for fiscal year 2016-17 and for each fiscal year thereafter so long as the state receives money pursuant to the master settlement agreement, the state treasurer shall transfer to the state dental loan repayment fund one percent of the money received by the state pursuant to the master settlement agreement for the preceding fiscal year.
Pursuant to section 24-75-1104.5 (1.7)(m)(II), for fiscal year 2020-21, the state treasurer shall transfer to the state dental loan repayment fund one percent of the money received by the state pursuant to the master settlement agreement less one hundred sixty thousand seven hundred seventeen dollars.
The state treasurer shall transfer the amount specified in subsection (2)(a) or (2)(b) ofthis section from money credited to the tobacco litigation settlement cash fund created in section 24-22-115. Money in the fund is subject to annual appropriation by the general assembly for the purposes of this article 23. The amount appropriated pursuant to this subsection (2) is in addition to and not in replacement of any general fund money appropriated to the state dental loan repayment fund.
(3) The department of public health and environment is authorized to receive contributions, grants, and services from public and private sources to carry out the purposes of this article.
Source: L. 2001: Entire article added, p. 926, § 1, effective June 4. L. 2003: (2) amended, p. 464, § 8, effective March 5; (2) amended, p. 2564, § 6, effective June 5. L. 2004: (2) amended, p. 1711, § 10, effective June 4. L. 2006: (1) and (2) amended, p. 1037, § 7, effective May 25. L. 2015: (1) amended, (SB 15-264), ch. 259, p. 962, § 78, effective August 5. L. 2016: (2) amended, (HB 16-1408), ch. 153, p. 468, § 17, effective July 1. L. 2020: (2) amended, (HB 20-1380), ch. 170, p. 782, § 3, effective June 29.