1999 Minnesota Statutes

     119A.12 Trust fund. 

    Subdivision 1.    Creation of trust fund.  A children's 
 trust fund for the prevention of child abuse is established as 
 an account in the state treasury.  The commissioner of finance 
 shall credit to the trust fund all amounts received under 
 sections 119A.16 and 144.226, subdivision 3, and shall ensure 
 that trust fund money is invested under section 11A.25.  All 
 money earned by the trust fund must be credited to the trust 
 fund.  The trust fund earns its proportionate share of the total 
 annual state investment income. 

    Subd. 2.    Availability of funds for disbursement.  
 Until the total amount of assets in the trust fund exceeds 
 $20,000,000, not more than 60 percent of the gross amount 
 contributed to the trust fund each year under section 144.226, 
 subdivision 3, plus 100 percent of all earnings credited to the 
 trust fund the previous fiscal year, are available for 
 disbursement.  When the commissioner of finance certifies that 
 the assets in the trust fund exceed $20,000,000, only the annual 
 earnings and the funds received under section 119A.16 that are 
 credited to the trust fund are available for disbursement.  

    Subd. 3.    Exception.  Notwithstanding subdivision 2, 
 money received under section 119A.16 may be disbursed in its 
 entirety.  This money must not be taken into account when 
 calculating the annual contributions to the trust fund under 
 this section. 

    HIST: 1986 c 423 s 3; 1991 c 292 art 8 s 25