Bill Text | History of Actions | Background | Title |
Description: Tobacco settlement payments; provide for securitization of through issuance of bonds.
Bill Text: [Introduced]
| 1 | 01/17 (H) Referred To Appropriations;Ways and Means | |
| 2 | 02/01 (H) Died In Committee |
| Effective date | July 1, 2005 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| Vote type required | Three/Fifths |
House Committees:
Principal Author: Watson*
Code Sections: A 043-0013-0401, A 043-0013-0403, A 043-0013-0405, A 043-0013-0407, A 043-0013-0409
Title: AN ACT TO AMEND SECTIONS 43-13-401, 43-13-403, 43-13-405, 43-13-407 AND 43-13-409, MISSISSIPPI CODE OF 1972, TO CREATE A TOBACCO SETTLEMENT REVENUE MANAGEMENT AUTHORITY, WHICH SHALL BE A PUBLIC CORPORATION TO RECEIVE ALL OF THE STATE'S FUTURE TOBACCO SETTLEMENT PAYMENTS AND TO ISSUE BONDS OF THE AUTHORITY PAYABLE FROM AND SECURED SOLELY BY THE STATE'S TOBACCO RECEIPTS; TO PROVIDE FOR THE TRANSFER OF THE PROCEEDS OF THE BONDS TO THE HEALTH CARE EXPENDABLE FUND; TO PROVIDE FOR THE TRANSFER OF THE UNEXPENDED BALANCE OF THE HEALTH CARE TRUST FUND TO THE HEALTH CARE EXPENDABLE FUND; TO PROVIDE FOR A BOARD OF DIRECTORS FOR THE AUTHORITY, WHICH SHALL BE THE SUCCESSOR TO THE BOARD OF DIRECTORS FOR THE HEALTH CARE TRUST FUND AND EXPENDABLE FUND; TO PROVIDE FOR THE ASSIGNMENT OF FUTURE TOBACCO SETTLEMENT PAYMENTS TO THE AUTHORITY; TO PRESCRIBE THE POWERS AND RESPONSIBILITIES OF THE AUTHORITY AND THE BOARD; TO PROVIDE FOR THE ISSUANCE OF THE BONDS; TO PROVIDE FOR THE MAINTENANCE OF ACCOUNTS AND THE ISSUANCE OF AN ANNUAL REPORT; TO PROVIDE FOR THE TAX EXEMPT STATUS OF INTEREST FROM THE BONDS; AND FOR RELATED PURPOSES.
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2005/pdf/History/HB/HB1303.htm