State Gets $77.1 Million in Tobacco Funds

The state has received more than $77.1 million from the tobacco industry as part of a legal settlement that imposed sweeping changes on tobacco companies.

Friday, April 16th 2010, 2:59 pm

By: News 9

Associated Press

OKLAHOMA CITY - The state has received more than $77.1 million from the tobacco industry as part of a legal settlement that imposed sweeping changes on tobacco companies.

State Treasurer Scott Meacham says his office received the money Thursday from the trustee of the tobacco settlement funds.

Almost $58 million was deposited into a tobacco settlement trust fund to fight tobacco addiction and promote health and wellness. That fund now has a balance of almost $558 million.

Only the earnings from the trust can be spent on programs to improve the health and well-being of Oklahomans. The fund has generated more than $63 million in earnings, including $18 million last year alone.

Oklahoma's share of the 1998 settlement is estimated at about $2 billion over 25 years.