Tobacco Settlement Plan Approved
Louisianians, by a nearly two-to-one margin, approve a constitutional amendment that spells out how BILLIONS of dollars from the national settlement with tobacco companies will be spent. Louisiana will receive more than four-and-a-half-BILLION dollars over 30 years. The amendment voters approved places the bulk of the money in investments that will create a perpetual trust fund. The dividends will fund health and education programs.