HB83 Summary

• Authorizes the Comptroller to transmit Penny Trust Fund proceeds directly to the Department of Public Health and State Board of Education upon application by the State Health Officer and State Superintendent of Education respectively, rather than requiring board approval for transmission.

• Allocates public health funds 50% for infant mortality reduction and child health improvement programs, and 50% for indigent health care programs.

• Expands the Board of Control of the Penny Trust Fund membership from 5 to 7 members by adding representatives appointed by the Governor from historically black colleges and universities and from non-profit health-related agencies.

• Defines "earnings" as 90% of the prior fiscal year's earnings and appropriates accumulated earnings from fiscal year 2001 forward to fund all board-approved applications and proposals.

• Modifies board duties to include reviewing and approving proposals from the Department of Public Health and State Superintendent of Education, developing an investment policy, and notifying education and health officials annually of eligible funds.

• Effective date: October 1, 2014.