MISSISSIPPI LEGISLATURE

1999 Regular Session

To: Finance

By: Senator(s) Ross, Hall, Kirby, Johnson (19th), Harvey, Moffatt, White (29th), Canon, Hawks, Dickerson, Scoper, Stogner, Farris, Hamilton, Minor

AN ACT TO DIRECT THE ATTORNEY GENERAL TO DEPOSIT INTO THE STATE TREASURY THE TOBACCO LITIGATION SETTLEMENT DISCRETIONARY FUNDS, KNOWN AS THE MISSISSIPPI TOBACCO PILOT PROGRAM FUNDS, TO CREATE A SPECIAL FUND THEREFOR, AND PROVIDING THAT SUCH FUNDS SHALL BE SUBJECT TO APPROPRIATION BY THE LEGISLATURE; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. The Attorney General of the State of Mississippi is hereby authorized, empowered and directed to deposit into the State Treasury the tobacco litigation settlement discretionary funds, known as the Mississippi Tobacco Pilot Program as authorized in the case Mike Moore Attorney General ex rel. State of Mississippi v. The American Tobacco Company et al. (Chancery Court of Jackson County, Mississippi, Cause No. 94-1429). The State Treasurer is hereby authorized, empowered and directed to receive said funds in an amount approximately equal to Sixty-three Million Dollars ($63,000,000.00), and deposit such money into a special fund designated as the Tobacco Pilot Program Fund. Unexpended amounts remaining at the end of the fiscal year in said fund shall not lapse into the General Fund and any interest earned on the fund shall be deposited to the credit of the special fund. Any monies in the Tobacco Pilot Program fund shall be available for, and shall only be expended subject to specific appropriation by the Legislature, the purposes authorized by the chancery court.

SECTION 2. This act shall take effect and be in force from and after its passage.