Local & Regional
Fri April 16, 2010
By Associated Press
Oklahoma City, OK –
OKLAHOMA CITY (AP) The state has received more than $77.1 million from the tobacco industry as part of a legal settlement that imposed sweeping changes on tobacco companies.
State Treasurer Scott Meacham says his office received the money Thursday from the trustee of the tobacco settlement funds.
Almost $58 million was deposited into a tobacco settlement trust fund to fight tobacco addiction and promote health and wellness. That fund now has a balance of almost $558 million.
Only the earnings from the trust can be spent on programs to improve the health and well-being of Oklahomans. The fund has generated more than $63 million in earnings, including $18 million last year alone.
Oklahoma's share of the 1998 settlement is estimated at about $2 billion over 25 years.
Copyright 2010 The Associated Press.