History of Actions | Background | Title |
Description: Amend Constitution; create trust fund for tobacco litigation payments.
| 1 | 01/06/99 | (H) | Referred To Constitution | |
| 2 | 02/02/99 | (H) | Died In Committee |
| Effective date | NO EFFECTIVE DATE | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| 3/5ths vote required | No |
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.
End Of Document
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