| ||||||||||
Dr. Ronald P. Rogers CHIROPRACTOR Support for your body's natural healing capabilities 270-384-5554 Click here for details Columbia Gas Dept. GAS LEAK or GAS SMELL Contact Numbers 24 hrs/ 365 days 270-384-2006 or 9-1-1 Call before you dig Visit ColumbiaMagazine's Directory of Churches Addresses, times, phone numbers and more for churches in Adair County Find Great Stuff in ColumbiaMagazine's Classified Ads Antiques, Help Wanted, Autos, Real Estate, Legal Notices, More... |
KY on pace to reach $2.5B from tobacco settlement payout By Terry Sebastian/Crystal Staley Frankfort, KY - As the Tobacco Master Settlement Agreement or MSA turns 20 on Nov. 23, Attorney General Andy Beshear says Kentucky is on pace to collect nearly $2.5 billion. Since the first payment in 1999, Kentucky has already collected more than $2 billion under the agreement reached by the tobacco industry and state attorneys general in 1998. "For 20 years the landmark Master Settlement Agreement has made a positive impact on the Commonwealth, supporting early childhood education, health programs, cancer research, and helping to aid our farmers and create sustainable farm-based businesses," Beshear said. "These funds are critical to our state, and the MSA is a textbook example of the importance of attorneys general to hold any industry accountable that would harm our people." Kentucky received $102 million in April and is on pace to collect another $5 million over the next five years, Beshear said, bringing the total for Kentucky to nearly $2.5 billion. On behalf of the state, Beshear's office monitors and enforces the terms of the Master Settlement Agreement (MSA) and the related statutes, in cooperation with other agencies including the Department of Revenue and the Office of State Budget Director. Each state determines how the MSA funds are distributed and spent. In Kentucky, the General Assembly has designated half of the MSA funds be invested in agricultural diversification through grants issued by the Governor's Office of Agriculture Policy, which administers the Kentucky Agriculture Development Fund. Under the MSA, the tobacco companies agreed to make annual payments, in perpetuity, worth approximately $208 billion to states and territories that are signatories to the agreement. Since 1998, tobacco companies have had to compensate states for some of the medical costs associated with tobacco-related illnesses and restrict advertising and promotion of cigarettes in the United States. The payments are determined according to a formula calculated, in part, by the number of cigarettes sold by companies that agreed to join the settlement. The three largest cigarette manufacturers - Philip Morris USA, RJ Reynolds and Lorillard (the latter two now merged as Reynolds American) - pay most of the MSA payment. The MSA payments will continue as long as traditional cigarettes are sold by the member companies. The Tobacco Settlement Agreement Fund Oversight Committee oversees the determinations on grant applications from the agricultural fund. Kentucky's additional MSA revenues are used to help improve the health outcomes of Kentucky children and families. This story was posted on 2018-11-13 15:10:47
Printable: this page is now automatically formatted for printing.
Have comments or corrections for this story? Use our contact form and let us know. More articles from topic Kentucky:
Construction alerts for LBN and I65 KY General Fund and Road Fund receipts for October 2018 Free Native American Educational Conference Friday, Saturday in Lexington Applications open for Summer 2019 KDA Internships Governor leads economic development mission to China Feds approve KY plan for innovation in Medicaid SUD Services Construction work continues on LBN and I65 PSC Completes Tax Cases for Major Investor-owned Utilities GM buyout offer unlikely to affect Corvette plant Governor attends White House ceremony celebrating Pledge to America's Workers View even more articles in topic Kentucky |
|
||||||||
| ||||||||||
Quick Links to Popular Features
Looking for a story or picture? Try our Photo Archive or our Stories Archive for all the information that's appeared on ColumbiaMagazine.com. | ||||||||||
Contact us: Columbia Magazine and columbiamagazine.com are published by Linda Waggener and Pen Waggener, PO Box 906, Columbia, KY 42728. Please use our contact page, or send questions about technical issues with this site to webmaster@columbiamagazine.com. All logos and trademarks used on this site are property of their respective owners. All comments remain the property and responsibility of their posters, all articles and photos remain the property of their creators, and all the rest is copyright 1995-Present by Columbia Magazine. Privacy policy: use of this site requires no sharing of information. Voluntarily shared information may be published and made available to the public on this site and/or stored electronically. Anonymous submissions will be subject to additional verification. Cookies are not required to use our site. However, if you have cookies enabled in your web browser, some of our advertisers may use cookies for interest-based advertising across multiple domains. For more information about third-party advertising, visit the NAI web privacy site.
|