SJR 049 Tobacco proceeds deposited into permanent trust or refunded to people
LR Number:3709L.01I Fiscal Note:3709-01
Committee:Pensions and General Laws
Last Action:01/27/00 - Referred S Pensions & General Laws Committee Journal page:S152
Effective Date:Upon Voter Approval
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Current Bill Summary

SJR 49 - This proposed constitutional amendment submits two proposals to voters relating to moneys received as a result of a tobacco settlement agreement. One proposal requires the proceeds to be set at current valuation and deposited in a permanent trust fund. The fund would be used for health and education purposes, as provided by law. The other proposal requires the proceeds to be refunded annually as if the proceeds constituted excess total state revenues.