Colorado to get $107 million in latest tobacco settlement
Money is backpay after cigarette companies withheld funds since 2004.
The Denver Post
Colorado will receive $107 million next month from Big Tobacco, the latest payment related to the 1998 settlement between cigarette companies and multiple states.
The money will go into Colorado’s general fund, and the legislature will decide where to spend it, according to Attorney General Cynthia Coffman, who announced the settlement Tuesday.
The $107 million is in addition to the already scheduled annual payment of $75 million, which also is owed to Colorado in April. The additional sum is the result of a settlement reached by Coffman’s office with several tobacco companies, which withheld a portion of the payments the last 11 years as they claimed states were failing to comply with the settlement rules.
Since 1999, Colorado has received nearly $1.7 billion in payments from tobacco companies, which were released from smoking-related health claims in return for perpetual annual payments to states.
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