• About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Tuesday, July 5, 2022
The Iowa Torch
  • Home
  • State Government
  • Federal Government
  • Local Government
  • Politics
  • Education
  • Opinion
No Result
View All Result
  • Home
  • State Government
  • Federal Government
  • Local Government
  • Politics
  • Education
  • Opinion
The Iowa Torch
The Iowa Torch
No Result
View All Result
Home State Government

Iowa receives $53.2 million tobacco payment

The state of Iowa has received more than $1.4 billion through the 1998 landmark settlement with tobacco companies.

Iowa TorchbyIowa Torch
April 20, 2022
in State Government
Reading Time: 2 mins read
Cigarette, smoking, tobacco

RELATED POSTS

Reynolds to ask Iowa Courts to reconsider recent abortion rulings

Post Roe, state elected officials pledge abortion debate in Iowa

Iowa Supreme Court rules there is no right to abortion in state constitution

ADVERTISEMENT

DES MOINES, Iowa –  Tobacco companies involved in the 1998 landmark settlement have transferred about $53.2 million to the state treasury for this year’s payment.  

In the last 24 years, Iowa has received $1.41 billion in payments under the settlement. The state will continue to receive annual Master Settlement Agreement payments in perpetuity, based on the number of cigarettes sold in the United States. The MSA is the largest settlement in U.S. history.  

“Nearly a quarter century after the Master Settlement Agreement was reached, it remains one of the most important settlements to consumers in Iowa and across the country. It is our duty year after year to ensure the provisions of the agreement are met and that Iowa receives its fair share,” Attorney General Tom Miller said.  

About $11.7 million of this year’s payment — or 22 percent — will go to the state.   

The 78 percent remainder will be used principally to pay bondholders who bought bonds issued by the Tobacco Settlement Authority.  

In 1998, Miller and attorneys general of 45 states signed the MSA with the nation’s four largest tobacco companies to settle lawsuits to recover billions of dollars in state health care costs associated with treating smoking-related illnesses.  

Since then, several other tobacco companies have signed onto the agreement. The 2022 payment came from 20 companies, including Philip Morris USA, R.J. Reynolds, Santa Fe Natural Tobacco, Vector, and Commonwealth Brands.   

The settlement created restrictions on the advertising, marketing and promotion of cigarettes, including a ban on targeting children through advertising.  It also includes prohibitions on outdoor advertising of cigarettes and the advertising of cigarettes in public transit facilities, as well as the use of cigarette brand names on merchandise, and a host of other restrictions.  

The central purpose of the MSA was to reduce smoking, particularly among youth. Since it was announced, cigarette sales in the United States have fallen substantially. Adult smoking rates have fallen from 24 percent of the U.S. population in 1999 to 12.5 percent in 2020, according to the U.S. Centers on Disease Control and Prevention. Only 13.4% of high school students reported smoking a cigarette in the past 30 days in 2020, according to the National Youth Tobacco survey. 

Tags: Attorney General of Iowatobacco industrytobacco salesTobacco Settlement AuthorityTom Miller
ShareTweetShare
ADVERTISEMENT
Previous Post

Pence headed back to Iowa for Fourth District Convention

Next Post

Larson Confirmed to Fourth Term as Top State Alcohol Regulator

Iowa Torch

Iowa Torch

The Iowa Torch​ is a for-profit, news organization that focuses on political news as it relates to Iowans.

Related Posts

Schultz: Governor Highlights Successes in Western Iowa
State Government

Reynolds to ask Iowa Courts to reconsider recent abortion rulings

June 29, 2022
Bird Says She Will Challenge Tom Miller for Attorney General
Politics

Bird raises $300k for Attorney General campaign in 2022

May 17, 2022
State Government

If Roe v. Wade is reversed, Iowa will still recognize abortion rights

May 5, 2022
Iowa Elected Officials Demand EPA Action on Biofuels
Federal Government

Iowa elected officials urge EPA to allow year-round E15 sales

April 5, 2022
State Government

State Objection Panel keeps Miller, Finkenauer on ballot after petition signature challenges

March 29, 2022
Miller joins bipartisan investigation into TikTok
State Government

Miller joins bipartisan investigation into TikTok

March 4, 2022
Next Post
Larson Confirmed to Fourth Term as Top State Alcohol Regulator

Larson Confirmed to Fourth Term as Top State Alcohol Regulator

National Museum of China by Shuaizhi Tian.

Hendrickson: What would Hamilton say about China?

Sign-Up For Our Daily Updates

Get The Iowa Torch right in your inbox!

Please wait...

Thank you for signing up!

Recommended Articles

Grassley, Ernst Join Letter Pledging to Block Bills That Undermine Pro-Life Protections

Ernst, Grassley Respond to President Biden’s Budget

May 28, 2021
Naig Announces $2.6 Million in Awards for Soil Health & Water Quality Projects

Reynolds Announces $100 Million for Water Infrastructure and Water Quality

December 9, 2021
Hinson Secures Federal Funding for Lock & Dam 10 in Guttenberg

Hinson Secures Federal Funding for Lock & Dam 10 in Guttenberg

June 4, 2021

Popular Stories

  • Schultz: Governor Highlights Successes in Western Iowa

    Reynolds to ask Iowa Courts to reconsider recent abortion rulings

    0 shares
    Share 0 Tweet 0
  • Iowa employers say attracting a quality workforce is a top priority

    0 shares
    Share 0 Tweet 0
  • Axne attacks Nunn in first campaign ad

    0 shares
    Share 0 Tweet 0
  • Several Republican incumbent lawmakers lose primaries

    0 shares
    Share 0 Tweet 0
  • Bill Gustoff Announces Campaign for Iowa House District 40

    0 shares
    Share 0 Tweet 0

The Iowa Torch

The Iowa Torch​ is a for-profit, news organization that focuses on political news as it relates to Iowans

Categories

  • Education
  • Federal Government
  • Iowa History
  • Local Government
  • News
  • Opinion
  • Politics
  • State Government
  • Uncategorized
  • Uncategorized

Newsletter

Please wait...

Thank you for signing up!

© 2022 The Iowa Torch, a publication of 4:15 Communications, LLC.

No Result
View All Result
  • Home
  • About Us
  • Advertise
  • Contact Us
  • State Government
  • Federal Government
  • Local Government
  • Politics
  • Education
  • Opinion

© 2022 The Iowa Torch, a publication of 4:15 Communications, LLC.