OPIOID SETTLEMENT FUND

Plain English Breakdown

The official source material does not provide detailed information about how the fund will operate beyond its creation and management.

Opioid Litigation Settlement Fund Act

This act establishes an Opioid Litigation Settlement Fund to hold and manage settlement proceeds from opioid manufacturers or distributors, with the Department of Revenue responsible for spending on remediation efforts.

What This Bill Does

• Creates an Opioid Litigation Settlement Fund in the state treasury.
• Allows the legislature to appropriate settlement proceeds received by the state from opioid manufacturers or distributors into this fund.
• Permits the Department of Revenue to spend money from the fund for opioid remediation efforts as agreed with opioid manufacturers or distributors and to cover costs related to managing the fund.

Who It Names or Affects

• The state government, especially the legislature and the Department of Revenue.
• Opioid manufacturers and distributors involved in lawsuits with the state.

Terms To Know

Remediation

Fixing or cleaning up problems caused by opioid misuse.

Settlement agreement

An agreement where a dispute is resolved without going to court.

Limits and Unknowns

• The bill does not specify how the money in the fund will be used beyond remediation and management costs.
• It's unclear what happens if there are no settlement proceeds or income for the fund.

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