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.
What changed between versions
Increases cigarette and tobacco products tax revenue provided to NJCCR from $1 million to $10 million annually.
Replaces the existing lapsing Cancer Research Fund with a non-lapsing, revolving fund within the Department of the Treasury, ensuring funds are not transferred to the General Fund as has occurred in recent years.
Requires that at least $5 million of the fund be used for general cancer research and at least $5 million for pediatric cancer research.
Designates the State Treasurer as custodian of the fund, with disbursements made only upon vouchers signed by the NJCCR chairperson or designee. Monies are to be invested by the Director of the Division of Investment and interest credited back to the fund.
The list of sponsoring senators was reduced from 24 to 13, removing Bramnick, Schepisi, Burgess, Steinhardt, Ruiz, Johnson, Stack, Amato, Gopal, Moriarty, Pennacchio, McKnight, and Henry.