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ERIC Number: ED445818
Record Type: Non-Journal
Publication Date: 1999-Oct
Pages: 83
Abstractor: N/A
Reference Count: N/A
ISBN: N/A
ISSN: N/A
Using Tobacco Settlement Revenues for Children's Services: State Opportunities and Actions.
Dixon, Lee; Johnson, Patrick; Kendell, Nicole; Cohen, Carol; May, Richard
The settlement between the states and the tobacco manufacturers reached in November 1998 is expected to infuse $206 billion in new revenues into state treasuries over the next 25 years. This study examined state decisions concerning the tobacco settlement revenues in order to highlight opportunities for using the funds to support children's services. The report reviews the basic fiscal terms of the Master Settlement Agreement and the magnitude of the expected revenues, as well as the actions states must take to ensure receipt of their allotment. The report discusses the several types of decisions states face concerning the disposition of the funds: (1) decisions on financial and governance structures for managing the funds (trust funds, endowments, foundations, existing funds); (2) decisions affecting the amount and timing of revenue a state will receive (spending versus saving the payments, and issuing bonds); and (3) decisions on the substantive allocation of the funds (health programs, smoking cessation, or children's services). The report focuses primarily on state legislative action to allocate funds to children's services. Examples are provided of the multiple approaches that have been taken, and prominent child-focused legislation is described in more detail. The report concludes by noting that because many decisions have yet to be made, policymakers, advocates, and others still have an opportunity to influence the allocation of the tobacco settlement funds. The report's two attachments list tobacco settlement bills that include a provision relating to services to children and describe legislative actions in each state. (KB)
Finance Project, 1000 Vermont Avenue, NW, Suite 600, Washington, DC 20005; Tel: 202-628-4200; Web Site: http://www.financeproject.org ($15, plus shipping and handling).
Publication Type: Reports - Descriptive
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: Finance Project, Washington, DC.; National Conference of State Legislatures, Denver, CO.