State may refinance tobacco money - FOX 8 WVUE New Orleans News, Weather, Sports, Social

State may refinance tobacco money

AP Photo AP Photo

BATON ROUGE, La. (AP) - State officials have agreed to start laying the groundwork for possibly generating as much as $85 million by refinancing part of the state's tobacco settlement.

The infusion of cash would come as state government faces a $1.3 billion shortfall in the money needed to pay for health care, education and other public services in the fiscal year that starts July 1.

During a meeting of the Tobacco Settlement Financing Corp.'s board on Monday, The Advocate reports state Treasurer John Kennedy raised the concern that the impetus for the proposal is the state's money problems.

Money generated from the refinancing would go toward the Taylor Opportunity Program for Students, or TOPS, which provides state-funded college scholarships.

__

Information from: The Advocate, http://theadvocate.com

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • Trending StoriesTrending StoriesMore>>

  • Driver sought in crash that killed three children

    Driver sought in crash that killed three children

    Sunday, March 26 2017 2:11 AM EDT2017-03-26 06:11:41 GMT
    File photoFile photo

    The Mississippi Highway Patrol is looking for a driver who ran away from the scene of a deadly crash in George County. Three children were killed in the crash. Troopers said a green 2003 Kia Optima was heading east on Highway 198, east of Depot Road, shortly before 4 p.m. on Saturday.

    more>>

    The Mississippi Highway Patrol is looking for a driver who ran away from the scene of a deadly crash in George County. Three children were killed in the crash. Troopers said a green 2003 Kia Optima was heading east on Highway 198, east of Depot Road, shortly before 4 p.m. on Saturday.

    more>>
Powered by Frankly