SJR 019 Establishes the "Tobacco Settlement Trust Fund"
LR Number:S0928.02I Fiscal Note:0928-02
Committee:Pensions and General Laws
Last Action:02/16/99 - Hearing Conducted S Pensions & General Laws Committee Journal page:
Effective Date:August 28, 1999
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Current Bill Summary

SJR 19 - This proposal constitutional amendment, if approved by the voters, establishes the "Tobacco Settlement Trust Fund". Any funds received by the state of Missouri as a result of any tobacco-related legal settlement or award will be deposited in the fund. Interest earned by the fund will be appropriated for children's health programs. Principal funds of the trust may be used if the following emergency conditions, specified in Article X, Section 19, of the Missouri Constitution are met:

1. The Governor requests the General Assembly to declare an emergency; 2. The request is specific as to the nature and dollar amount of the emergency and as to the method of funding the emergency; and 3. The General Assembly declares an emergency by two-thirds vote in each house.

The principal and interest will not be included in the calculation of total state revenues and, thus, will be excluded from Hancock refunds to taxpayers.