South Dakota Receives $18 million
(Pierre) – Attorney General Mark Barnett announced that South Dakota received nearly $18 million today, thanks to a 1998 settlement between 44 states and the tobacco industry.
As determined by South Dakota law, the money from the settlement is placed in a constitutional trust fund for educational enhancement. The interest earned on that fund is available for state use.
Under the settlement, South Dakota will receive an estimated $748 million. Including today’s payment, the state has already received $75 million and another payment is expected in late April.