(1) There is hereby created a trust fund on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State, within the Tobacco Settlement Program Fund maintained by the State Board of Finance, an account to be known as the “Targeted State Needs Program Account”. Such account shall be used for such purposes and in such amounts as may be appropriated by law.
(2) On each July 1, there shall be transferred from the fund to the account the amount specified in § 19-12-108(d)(1)(A).
(3) All moneys deposited into the account except for investment earnings shall be used for the purposes set forth in § 19-12-114, or such other purposes as may be appropriated in law. Of the amounts deposited into the account, the following proportions shall be used to fund the programs established in § 19-12-114: College of Public Health of the University of Arkansas for Medical Sciences — thirty-three per cent (33%);
(4) Area Health Education Center located in Helena — twenty-two per cent (22%);
(5) Donald W. Reynolds Center on Aging — twenty-two per cent (22%); and
(6) Minority Health Initiative, administered by the Minority Health Commission — twenty-three per cent (23%).
(7) Moneys remaining in the account at the end of the first fiscal year of a biennium shall be carried forward and used for the purposes provided by law. Such amounts that remain at the end of a biennium shall be transferred to the Tobacco Settlement Program Fund pursuant to § 19-12-108(e).