Kentucky Attorney General Cameron announces $129 million in payments for Annual Tobacco Settlement Funds for Kentucky.

TwoSq Media

Basis of article is information from an April 21st Kentucky Attorney General Press Release.

The Commonwealth State of Kentucky has received its annual payment for 2022, in the amount of $129 million, for a 1998 settlement agreement with tobacco manufacturers.

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Kentucky uses Master Settlement Agreement money to thwart underage smoking and youth development.KY Department of Revenue

According to the National Association of Attorney Generals (NAAG), in 1998, Kentucky, along with 51 United States territory attorneys general, signed the Master Settlement Agreement (MSA) with the four largest tobacco producers in the U.S.. Since the MSA’s signing in ‘98, over 40 more companies have joined the agreement. Initially, the agreement resolved a number of state lawsuits over Medicaid costs related to smoking.

“Since 1998, Kentucky has received over $2.5 billion from tobacco manufacturers under the Master Settlement Agreement, which our office administers,” said Attorney General Cameron.

The funds Kentucky receives from the Master Settlement Agreement, compensates the state for smoking related Medicaid expenses, and lowering underage smoking rates.

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The Kentucky Department of Agriculture make grants available for agricultural diversification.Susta.org

Kentucky’s General Assembly has allocated half of the money for agricultural diversification through the Office of Agricultural Policy in the form of grants. The other half of the money goes to grants awarded by the Tobacco Settlement Agreement Fund Oversight Committee.

According to the truthinitiative.org, Kentucky made $497 million in tobacco revenue in 2020. You can contact your Kentucky Attorney General, online with questions or concerns. Kentuckians are subject to the Federal law signed in 2019 that raised the age from 18 to age 21.

Credits:

National Association of Attorney Generals (NAAG)

Kentucky Office of the Attorney General

Truth Initiative

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Hello, I'm Harrison, a writer for TwoSq Media; a contributor to NewsBreak. I analyze local news, business, and technology's influence on how we live our lives. I recently earned a Master of Business Administration from Morehead State University.

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