N.Y. Gets Boost from Tobacco Companies

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N.Y. Gets Boost from Tobacco Companies

12/31/2001

ALBANY, N.Y. -- Counties, the state and New York City will share $272 million as part of the latest installment on the multistate court settlement with tobacco companies. That's about 10 percent higher than past payments, said state Attorney General Eliot Spitzer.

State government will receive $139 million, New York City will receive $73 million, and $60 million will be paid to the 57 counties outside the city.

Since 1999, the state, its counties and New York City have received more than $2 billion under the 1998 tobacco Master Settlement Agreement. The money is intended to reimburse public health care costs related to smoking and to help curb smoking.

Tobacco companies will have to pay more than $200 billion under the agreement and abide by marketing and advertising restrictions. New York is expected to receive $25 billion over the first 25 years of the landmark settlement, with additional payments after.