Bill Text: NJ S929 | 2022-2023 | Regular Session | Amended
Bill Title: Increases amount of cigarette and other tobacco products tax revenues provided to New Jersey Commission on Cancer Research to $10 million; establishes dedicated, non-lapsing Cancer Research Fund.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2023-02-13 - Referred to Senate Budget and Appropriations Committee [S929 Detail]
Download: New_Jersey-2022-S929-Amended.html
Sponsored by:
Senator ROBERT W. SINGER
District 30 (Monmouth and Ocean)
Senator ANTHONY M. BUCCO
District 25 (Morris and Somerset)
Co-Sponsored by:
Senators Zwicker, Holzapfel, Diegnan and Doherty
SYNOPSIS
Increases amount of cigarette and other tobacco products tax revenues provided to New Jersey Commission on Cancer Research to $10 million; establishes dedicated, non-lapsing Cancer Research Fund.
CURRENT VERSION OF TEXT
As reported by the Senate Health, Human Services and Senior Citizens Committee on February 13, 2023, with amendments.
An Act concerning the New Jersey State Commission on Cancer Research, amending P.L.1982, c.40, supplementing P.L.1983, c.6, and repealing section 8 of P.L.1983, c.6.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Section 5 of P.L.1982, c.40 (C.54:40A-37.1) is amended as follows:
5. The sum of [$1,000,000.00] $10,000,000 of the tax collected pursuant to section 301 of P.L.1948, c.65 (C.54:40A-8), shall be annually deposited by the State Treasurer in [a special account to be known as] the Cancer Research Fund, [except that for Fiscal Year 1983 only $500,000.00 shall be deposited in that account] a nonlapsing, revolving fund established pursuant to section 3 of P.L. , 1[...] c. 1 (C. ) (pending before the Legislature as this bill). Moneys in the Cancer Research Fund shall be [annually appropriated toward the funding of] utilized by the New Jersey State Commission on Cancer Research, established pursuant to P.L.1983, c.6 (C.52:9U-1 et seq.), [or to] for cancer research projects authorized and approved by the commission 1with at least $5,000,000 in moneys from the fund being used to fund general cancer research and at least $5,000,000 in moneys from the fund being used to fund pediatric cancer research1 .
(cf: P.L.1990, c.39, s.18)
2. Section 8 of P.L.1983, c.6 (C.52:9U-8) is repealed.
3. (New Section) a. There is established in the Department of the Treasury a nonlapsing, revolving fund to be known as the Cancer Research Fund. This fund shall be the repository for monies provided pursuant to section 5 of P.L.1982, c.40 (C.54:40A-37.1) and any other funds approved by the Department of Health or the commission. Moneys deposited in the fund, and any interest earned thereon, shall be used exclusively for providing grants, as well as contracts, for 1general1 cancer research projects 1and pediatric cancer research projects1 , authorized and approved by the commission.
b. The State Treasurer shall be the custodian of the fund and all disbursements from the fund shall be made by the State Treasurer upon vouchers signed by the chairperson of the commission or the chairperson's designee. The monies in the fund shall be invested and reinvested by the Director of the Division of Investment in the Department of the Treasury in the same manner as other trust funds in the custody of the State Treasurer, in the manner provided by law. Interest received on the monies in the fund shall be credited to the fund.
4. This act shall take effect immediately.
