History of Actions | Background | Title |
Description: Tobacco settlement; establish a trust fund to be used to fund a reduction in sales tax on food.
| 1 | 01/18/99 | (S) | Referred To Finance | |
| 2 | 02/02/99 | (S) | Died In Committee |
| Effective date | July 1, 1999 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| 3/5ths vote required | No |
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.
End Of Document
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