$74.6 million to go to tobacco settlement fund
BY RANDY KREHBIEL World Staff Writer
Wednesday, April 18, 2012
4/18/12 at 2:53 AM
OKLAHOMA CITY - Oklahoma has received $74.6 million as its share of annual payments from a 1996 class-action lawsuit against the tobacco industry, state Treasurer Ken Miller said Tuesday.
Seventy-five percent of the money goes directly to the Tobacco Settlement Endowment Trust Fund, which is used for health programs in the state. The fund now holds $710 million.
The rest of the annual payment is divided between the state's general fund for appropriation by the Legislature and the attorney general's evidence fund.
"These funds were immediately put to work to generate money for use in cutting-edge medical research, prevention and reduction of tobacco addiction, and to address other health concerns in Oklahoma," Miller said.
"The people of Oklahoma are the true beneficiaries of this money, as the earnings from this investment are dedicated to helping them live longer and healthier lives."