AN ACT relating to the tobacco master settlement agreement fund.

HB 792 makes a technical correction to Kentucky law regarding the Tobacco Master Settlement Agreement Fund. The bill amends the existing statute to clarify how funds from the tobacco settlement should be deposited into the Rural Development Fund, which supports agricultural development for Kentucky residents. The amendment ensures that 50% of tobacco settlement proceeds are properly allocated to this fund and establishes requirements for the Rural Development Board to create a strategic plan, submit annual reports, and undergo regular audits. This change does not alter the fund's purpose but corrects procedural details in the legal framework governing its administration.