Mississippi Legislature

1999 Regular Session

House Concurrent Resolution 31

[Introduced]

Instructions Bill Status Menu




History of Actions

Background

Title

Description: Amend Constitution; create trust fund for tobacco litigation payments.

History of Actions:

101/06/99(H)Referred To Constitution
202/02/99(H)Died In Committee

Background Information:

Effective dateNO EFFECTIVE DATE
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
3/5ths vote requiredNo

House Committee:

Principal Author: Smith (35th)

Title: A CONCURRENT RESOLUTION PROPOSING TO AMEND THE MISSISSIPPI CONSTITUTION OF 1890 BY ADDING A NEW SECTION TO CREATE A SPECIAL TRUST FUND IN THE STATE TREASURY INTO WHICH SHALL BE DEPOSITED ALL MONIES, THE USE OR PURPOSE FOR EXPENDITURE OF WHICH IS NOT RESTRICTED, THAT ARE RECEIVED BY THE STATE FROM ANY SETTLEMENT OR JUDGEMENT IN LITIGATION AGAINST TOBACCO COMPANIES OR FROM ANY NATIONAL TOBACCO SETTLEMENT OR FROM LEGISLATION ENACTED BY CONGRESS REQUIRING TOBACCO COMPANIES TO PAY MONEY TO STATES; TO PROVIDE THAT INTEREST AND INCOME EARNED ON THE PRINCIPAL OF THE TRUST FUND MAY BE EXPENDED FOR SUCH PURPOSES AND IN SUCH AMOUNT AS PRESCRIBED BY GENERAL LAW; TO PROVIDE THAT THE PRINCIPAL OF THE TRUST FUND MAY BE EXPENDED ONLY UPON A TWO-THIRDS VOTE OF THE ELECTED MEMBERSHIP OF EACH HOUSE OF THE LEGISLATURE; TO AUTHORIZE THE LEGISLATURE, BY GENERAL LAW, TO PRESCRIBE A GREATER VOTE REQUIREMENT FOR EXPENDITURE OF THE PRINCIPAL OF THE TRUST FUND OR TO PROHIBIT THE EXPENDITURE OF ANY OF THE PRINCIPAL; TO PROVIDE THAT THE LEGISLATURE SHALL PRESCRIBE THE MANNER IN WHICH MONIES IN THE TRUST FUND ARE TO BE INVESTED AND MAY PLACE RESTRICTIONS, CONDITIONS AND LIMITATIONS ON THE EXPENDITURE OF ANY OF THE MONIES IN THE TRUST FUND; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 02/02/99 at 17:07.



End Of Document

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