Local & Regional
Thu August 12, 2010
By Associated Press
Oklahoma City, OK – Tobacco fund board certifies $18M
OKLAHOMA CITY (AP) The board that oversees the state's tobacco settlement trust fund has certified more than $18 million in earnings to spend next year on health issues and fighting tobacco addiction.
The Oklahoma Tobacco Settlement Endowment Trust Fund Board of Investors certified the amount on Wednesday after paying investment fees.
Oklahoma voters in 2000 amended the state constitution to create the fund and limit appropriations to health-related expenses. Since it was created, nearly $82 million has been certified by the board of investors.
The endowment currently contains almost $530 million, and only earnings on the endowment can be spent.