‘Tobacco securitization’ and what it would mean for Kansas

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securitization of tobacco settlement funds in other states and localities As of June 2002, approximately 16 jurisdictions had securitized all or part of their tobacco settlement revenues, according to the National Conference of State Legislatures (NCSL); (see NCSL’s State Health Notes, Volume 23, No. 374, June 17, 2002).

“Kansas kids didn’t create this budget crisis, and they shouldn’t be forced to pay for it.” In point of fact, though, using tobacco payments as a dedicated. many advocates worried because it would.

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Sam Brownback declared Thursday in his State of the State address that Kansas. increase would mean that if a person smokes a pack a day, the state would collect an extra $547.5 per year. George.

Kansas was one of 46 states that won a lawsuit against the nation’s four largest tobacco companies in 1998. The states sought money to cover the health care costs of smoking. Kansas receives annual payments based on cigarette sales as a result.

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After credit ratings agency cites tobacco securitization in outlook downgrade, Kansas budget director rebuts concerns By Jonathan ShormanThe Topeka Capital-Journal Friday

Follow By Jim McLean March 11, 2016 A leading child advocate has obtained a document that she says confirms state officials are considering a deal to securitize the state’s tobacco settlement payments. Shannon Cotsoradis, president of the nonprofit advocacy group Kansas Action for Children, raised concerns about a possible securitization deal earlier in the week in testimony to a Senate.

"Tobacco securitization" would allow the state to sell off the rights to part of its tobacco money for the next 20 to 30 years in exchange for about $160 million now.

The Kansas budget director rebutted concerns on Friday that selling off annual payments that go toward children’s programs could harm the state’s credit rating, after a ratings agency cited.

Selling bonds backed by the tobacco money would mean that some or all of it would go to investors in exchange for a large upfront payment. Kansas currently uses the tobacco money to fund children.

In terms of the tobacco settlement securitization, which would be for the 2018 and 2019 fiscal year budget proposals, Sullivan said that it would bring in between $480 million and $775 million to the state. He said that the securitization has been accomplished in other states.