SJR 036 Voters to decide to include tobacco payments in total state revenue or to create trust fund
LR Number:2434S.02I Fiscal Note:2434-02
Committee:Pensions and General Laws
Last Action:01/18/00 - Hearing Conducted S Pensions & General Laws Committee Journal page:
Effective Date:August 28, 2000
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Current Bill Summary

SJR 36 - This proposed constitutional amendment allows voters to determine whether the payments received by the state as a result of the litigation against tobacco companies will be deposited into the "Tobacco Settlement Trust Fund".

Any interest earned by the Tobacco Settlement Trust Fund will be appropriated for children's health programs, and the principal funds may be used only if certain emergency conditions are met. The principal and interest will not be included in the calculation of total state revenues and will be excluded from Hancock refunds to taxpayers.

This portion of the resolution is identical to SJR 19 (1999).