Sec. 1. (a) The local public health fund is established for the purpose of providing local boards of health with funds as provided in sections 2.1 through 2.3 of this chapter to provide public health services. The fund shall be administered by the state department and consists of:
(1) appropriations by the general assembly;
(2) penalties paid and deposited in the fund under IC 6-8-11-17; and
(3) amounts, if any, that another statute requires to be distributed to the fund from the Indiana tobacco master settlement agreement fund.
(b) The expenses of administering the fund shall be paid from money in the fund.
(c) The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public funds may be invested. Interest that accrues from these investments shall be deposited in the fund.