Section 7008 - [Effective 6/30/2025] Wrongful conviction compensation fund(a) The Wrongful Conviction Compensation Fund ("Fund") is created as a separate fund in the Office of the State Treasurer.(b) The State Treasurer may receive money or other assets from any source for deposit into the Fund.(c) The State Treasurer shall expend money from the Fund only for the purpose of paying claims authorized under this chapter and costs of administration. The State Treasurer shall pay money from the Fund in amounts and at the times as ordered by the Superior Court under this chapter.(d) Money in the Fund at the close of a fiscal year must remain in the Fund and not revert to the General Fund.(e) If there is insufficient money in the Fund to pay claims as ordered under this chapter, the State Treasurer shall pay claims that are ordered but not paid if money becomes available in the Fund, and pay those claims before subsequently ordered claims. The State Treasurer shall develop and implement a process to notify the General Assembly, Director of the Office of Management and Budget, and Controller General that money in the Fund may be insufficient to cover future claims when the State Treasurer reasonably believes that within 60 days the money in the Fund will be insufficient to pay claims. The process must, at a minimum, do all of the following: (1) Identify a specific date by which the money in the Fund will become insufficient to pay claims.(2) Outline a clear process indicating the order in which claims pending with the Fund will be paid.(3) Outline a clear process indicating the order in which claims that were pending with the Fund when money became insufficient will be paid, if money subsequently becomes available.(f) The State Treasurer shall report quarterly to the Joint Finance Committee, Controller General, and Director of the Office of Management and Budget all of the following as of the end of the quarter: (1) All payments made from the Fund in the quarter, indicating for each payment whether it is for a new settlement or award or continued payment for a previous settlement or award.(2) Any settlements that have been reached or awards that have been made for which payments have not been made.(3) The number of actions in which an order or judgment has been entered denying the claim, and the reasons for each denial.(4) The number of known claims for compensation under this chapter for which there are no final settlements or awards, indicating for each claim, if pending, the amount claimed and the potential payment.(5) The balance in the Fund.Added by Laws 2023, ch. 427,s 1, eff. 6/30/2025.