HB 1173 -- Tobacco Settlement

Sponsor:  Wagner

This bill creates the Missouri Tobacco Settlement Trust Fund for
deposit of moneys received by the state pursuant to the master
settlement agreement entered into on November 23, 1998, by the
state and leading United States tobacco product manufacturers.
Interest earned on moneys in the fund must remain in the fund
and the moneys will not revert to the General Revenue Fund at
the end of the biennium.

Moneys in the fund will only be used as follows:

(1)  Fifty percent for general health care; and

(2)  Fifty percent for a local school building program.  These
moneys will be used for grants to local school districts for
repair, renovation, and construction of school buildings.  The
program will be administered by the Department of Elementary and
Secondary Education.  School districts with the greatest need
will receive priority for the grants and will be required to
provide at least 10% of the cost of the project to receive the
grant.