CHARLESTON, W.Va. (WCHS) — What some are calling a historic piece of legislation in the opioid crisis became law Wednesday in West Virginia with Gov. Jim Justice’s signature.

It sets up the mechanism to use millions of dollars in court settlements to deal with the state’s huge drug problems.

"With the West Virginia First Foundation underway, we can now unleash powerful resources to take on this terrible plague,” state Attorney General Patrick Morrisey said. “This is the first time they'll be a comprehensive plan and money delivered on the target. "

Senate Bill 674 officially recognizes the nonprofit foundation that will manage about a billion dollars in settlements with the drug industry and its distribution network over the crisis created by pain killers.

Families who have lost loved ones to fentanyl attended the bill signing with state lawmakers and mayors.

All 55 counties and 221 of 229 cities and towns have signed on to the memo of understanding that centers around the foundation. Mayors of some the state's largest cities praised the bill.

The foundation will control more than 70% of that settlement or judgment money and future grants and donations in what will be a lengthy effort.

"The reality is that so many families have been implicated in this, it's going to effect the next 40 years,” Huntington Mayor Steve Williams said.

Parkersburg Mayor Tom Joyce said he was excited more about the abatement component.

“I really think this is a societal problem, and I applaud the governor, and the attorney general and the Legislature for making this happen,” Joyce said.

The money is expected to go for treatment, education and some law enforcement.

An 11-member board will manage the foundation. The governor gets to appoint five of those. The attorney general said he hopes the board will be operational in a matter of months and moving on the issues generated by the opioid crisis.

Kanawha County Commissioner Lance Wheeler called the day a must needed win for Kanawha County and the state of West Virginia.

The foundation will receive about 72% of each settlement or judgment, while nearly 25% goes to local governments and 3% will be held in escrow by the state.