State receives more funds from tobacco settlement
01/01/02
Oklahoma received $20.1 million more from the tobacco industry Monday through the settlement fund set up to repay states for costs associated with tobacco use.
The deposit brings the state's amount to $172 million. Oklahoma is to receive about $50 million in April.
Half the money will go to the Tobacco Settlement Trust. Its interest will pay for health issues.
The money stems from a 1998 settlement between several states and tobacco companies. The settlement bans tobacco advertising, keeps companies from "targeting" children, sets aside funding for tobacco education and pays states about $206 billion in recovery funds.
Oklahoma's share will be about $2.03 billion in the next 25 years. An additional $268 million was awarded to Oklahoma for the state attorney general's help with the case.
Cigarettes
