Ponca City, OK

Now: 84 °F

Currently: Fair

Hi: 84 °F | Lo: 66 °F

Tuesday

Hi: 90 °F 

Lo: 74 °F

Wednesday

Hi: 95 °F 

Lo: 75 °F

Thursday

Hi: 96 °F 

Lo: 74 °F

Friday

Hi: 87 °F 

Lo: 68 °F

Saturday

Hi: 87 °F 

Lo: 72 °F

Oklahoma receives $78 million settlement payment from tobacco companies

The Associated Press - April 29, 2017 9:43 am

Oklahoma receives $78 million settlement payment from tobacco companies
OKLAHOMA CITY (AP) – Oklahoma has received a $78 million payment from the tobacco industry as part of a 1999 settlement of a lawsuit against tobacco companies.
State Treasurer Ken Miller said Friday that 75 percent of the payment, or $58.5 million, went to the Tobacco Settlement Endowment Trust Fund for investment. The rest is split between the Legislature for health care-related appropriations and the attorney general, who enforces the settlement.
The fund was created in 2000 when voters approved a constitutional amendment allowing only earnings from the fund to be spent to improve the health of Oklahomans, particularly children and senior adults. Miller says the fund totals $1.1 billion.
Oklahoma was among many states that sued tobacco companies but is the only state with a constitutionally protected fund for investment of settlement payments.

 

Latest Stories

Midwest City man pleads guilty in child porn case, receives prison sentence

OKLAHOMA CITY – Gerald Prindle, 39, has pleaded guilty to charges relating to child pornography and...

Two stores make underage beer sales

Friday evening, Ponca City Police officers, working with teens from out of town, attempted to make...

A risky fix to repair a city’s gutted streetlight grid

TULSA, Okla. (AP) – After years in the dark, crews in Tulsa are finally scrambling to...