§ 32.1-365. Public purpose; exemption from taxation
A. The exercise of the powers granted by this chapter shall be in all respects for the benefit of the citizens of the Commonwealth and for the promotion of their safety, health, welfare, knowledge, convenience and prosperity. B. The Foundation will be performing an essential governmental function in the exercise of the powers conferred upon […]
§ 32.1-361.1. Virginia Foundation for Healthy Youth Endowment
A. There is hereby established in the state treasury a special fund to be designated the “Virginia Foundation for Healthy Youth Endowment” (the Endowment). The Endowment shall receive any proceeds from any sale of all or any portion of the Foundation Allocation, deposits from the Fund as determined by the Board pursuant to subdivision 5 […]
§ 32.1-362. Audit
The accounts of the Foundation shall be audited by the Auditor of Public Accounts, or his legally authorized representatives, as determined necessary by the Auditor of Public Accounts. Copies of the audit shall be distributed to the Governor and to the Chairmen of the House Committee on Appropriations and the Senate Committee on Finance and […]
§ 32.1-363. Forms of accounts and records
The accounts and records of the Foundation showing the receipt and disbursement of funds from whatever source derived shall be in such form as the Auditor of Public Accounts prescribes. 1999, cc. 880, 962.
§ 32.1-364. Reports to the Governor and General Assembly
The Foundation shall submit a report no later than March 31 of each year to the Governor and the General Assembly. The report shall include information regarding programs supported by the Foundation and expenditures from the Fund. 1999, cc. 880, 962; 2005, c. 19.
§ 32.1-359. Duties of the Board
The Board shall perform the following duties: 1. Establish specific criteria and procedures governing decisions by the Foundation to cause the moneys obtained from the Master Settlement Agreement in the Fund to be primarily distributed to entities for use in the discouragement, elimination or prevention of the use of tobacco products by minors. Additionally, the […]
§ 32.1-360. Virginia Tobacco Settlement Fund
There is hereby created in the state treasury a special nonreverting fund to be known as the Virginia Tobacco Settlement Fund. The Fund shall be established on the books of the Comptroller. Subject to the sale of all or any portion of the Foundation Allocation, 10 percent of the annual amount received by the Commonwealth […]
§ 32.1-361. Use of moneys distributed
Any recipient of any moneys distributed from the Fund pursuant to this chapter shall be required, as a condition precedent to the release of such moneys to such entity, to establish and maintain policies restricting or preventing tobacco use by minors. The Foundation shall (i) establish criteria for determining whether an entity’s policies support the […]
§ 32.1-357. Board of Trustees; appointment; officers; quorum; executive committee; compensation and expenses
A. The Foundation shall be governed and administered by a Board of Trustees consisting of 23 members. Two members shall be appointed by the Speaker of the House of Delegates from among the membership of the House of Delegates, one representing rural interests and one representing urban interests; two members shall be appointed by the […]
§ 32.1-358. Appointment of director; counsel to the Board and Foundation
A. Subject to confirmation by the General Assembly, the Governor shall appoint a director, whose compensation shall be determined by the Board, subject to approval by the Governor, and who shall also be the secretary of the Board. The director shall administer, manage and direct the affairs and business of the Foundation in accordance with […]