Tobacco Settlement Proceeds Act of 2000
After the establishment of the Master Settlement Agreement of 1998 between several major U.S. tobacco companies and four state governments (Texas, Florida, Minnesota, and Mississippi), the remaining forty-six states, the District of Columbia, and five U.S. territories not party to the original legal action were allowed to join into benefits conferred by the agreement. The tobacco companies were mandated to pay damages approaching the sum of $10 billion over an indefinite time period to the states joining the agreement, as well as acknowledge publicly that tobacco companies targeted youth in marketing and sales of products. In addition, the companies were subjected to sponsorship, marketing, and sales restrictions on their product. The State of Arkansas, agreeing not to file further litigation …
