Spending the stateâ€™s tobacco settlement endowment funds
Saturday, August 14th 2004, 5:39 am
By: News On 6
OKLAHOMA CITY (AP) -- More than $4-million in earnings from Oklahoma's tobacco settlement endowment will be used in the next year to help smokers kick the habit.
State officials made the announcement at a news conference Friday.
The endowment fund's board of directors recently certified $3.4-million in investment income for use this fiscal year. The rest is carry-over funding from last year.
State Treasurer Robert Butkin says Oklahoma is the only state with a constitutionally protected endowment to combat tobacco addiction. The endowment currently stands at $168-million.
Oklahoma has one of the highest percentage of smokers in the country. About 600,000 Oklahomans -- or 25% of the adult population -- smoke.