Mississippi Legislature

1999 Regular Session

Senate Bill 2790

[Introduced]

Instructions Bill Status Menu




History of Actions

Background

Title

Description: Tobacco settlement; establish a trust fund to be used to fund a reduction in sales tax on food.

History of Actions:

101/18/99(S)Referred To Finance
202/02/99(S)Died In Committee

Background Information:

Effective dateJuly 1, 1999
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
3/5ths vote requiredNo

Senate Committee:

Principal Author: Rayborn

Title: AN ACT TO CREATE A TRUST FUND IN THE STATE TREASURY DESIGNATED AS THE "TOBACCO LITIGATION SETTLEMENT TRUST FUND" INTO WHICH SHALL BE DEPOSITED SUCH MONEY AS MAY BE RECEIVED BY THE STATE OF MISSISSIPPI AS SETTLEMENT OF ANY LITIGATION IN WHICH THE STATE OF MISSISSIPPI IS A PLAINTIFF OR CLAIMANT FOR DAMAGES SUFFERED BY THE STATE AS A RESULT OF THE USE OF TOBACCO PRODUCTS BY RESIDENTS OF THE STATE; TO PROVIDE THAT INTEREST AND INCOME DERIVED FROM INVESTMENT OF THE PRINCIPAL OF THE TRUST FUND SHALL BE UTILIZED TO MAKE UP FOR ANY SALES TAX REVENUE LOST AS A RESULT OF ANY REDUCTION IN THE SALES TAX ON UNPREPARED FOOD SOLD FOR HUMAN CONSUMPTION; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 02/02/99 at 17:10.



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