OPIOID SETTLEMENT FUND

Plain English Breakdown

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HB 344: Opioid Litigation Settlement Fund

This bill establishes the opioid litigation settlement fund as a separate account in the state treasury to hold money from legal settlements with drug makers.

What This Bill Does

• Creates a new, separate fund called the Opioid Litigation Settlement Fund within the state treasury.
• Allows the legislature to move settlement payments received from opioid manufacturers or distributors into this fund.
• Permits the Department of Revenue to spend money in the fund for opioid remediation if required by legal agreements with drug makers.
• Lets the Department of Revenue use funds to pay costs needed to manage the account.
• States that any unused money stays in the fund and does not expire at the end of a budget year.

Who It Names or Affects

• The Alaska Legislature, which decides how much settlement money goes into the fund.
• The Department of Revenue, which manages spending from the fund for remediation and administration costs.
• Manufacturers or distributors of opioids who pay settlements to the state.

Terms To Know

Opioid litigation settlement

Money paid by drug companies to the state as part of a legal agreement regarding opioid drugs.

Remediation

Actions taken to fix problems caused by opioids, which must follow rules in settlement agreements.

Limits and Unknowns

• The bill states that this account is not a dedicated fund.
• Spending from the fund for remediation must comply with specific settlement agreements between the state and drug companies.

Official Summary Text

OPIOID SETTLEMENT FUND
An Act establishing the opioid litigation settlement fund.

Current Bill Text

HB0344a -1- HB 344
New Text Underlined [DELETED TEXT BRACKETED]

34-LS1401\A

HOUSE BILL NO. 344

IN THE LEGISLATURE OF THE STATE OF ALASKA

THIRTY-FOURTH LEGISLATURE - SECOND SESSION

BY REPRESENTATIVE COULOMBE

Introduced: 2/23/26
Referred: Health and Social Services, Finance

A BILL

FOR AN ACT ENTITLED

"An Act establishing the opioid litigation settlement fund." 1
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 2
* Section 1. AS 37.14 is amended by adding a new section to read: 3
Article 12. Opioid Litigation Settlement Fund. 4
Sec. 37.14.900. Opioid litigation settlement fund established. (a) The opioid 5
litigation settlement fund is established as a separate fund in the state treasury. The 6
legislature may appropriate to the fund settlement proceeds received by the state from 7
manufacturers or distributors of opioids and income from the fund. 8
(b) The Department of Revenue may spend money in the fund for opioid 9
remediation in compliance with settlement agreements between the state and 10
manufacturers or distributors of opioids and to pay the costs to manage the fund. 11
(c) Money in the fund does not lapse. 12
(d) Nothing in this section creates a dedicated fund. 13