Wednesday, November 16, 2011

Tobacco Fund Certifies $17.3 Million

The Oklahoma Tobacco Settlement Endowment Trust Fund Board of Investors has certified an additional $17.3 million in earnings for use in the coming year to combat tobacco addiction and other health issues, State Treasurer Ken Miller announced today.

Miller is chairman of the board that oversees investment of Oklahoma’s share of the national Master Settlement Agreement. The additional certification came during a joint meeting Wednesday with the trust’s board of directors that controls spending of the earnings.

Total certified earnings from investment during the past fiscal year now stand at $36 million. The change was precipitated by an attorney general opinion issued earlier this year that declared as unconstitutional a state law that limited the calculation of earnings.

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