Outside Section 41

Phase-in Deposit of Tobacco Litigation Proceeds

SECTION 41.   Notwithstanding subsection (c) of section 24 of chapter 32A of the General Laws, inserted by section 14, for fiscal years 2008 to 2011, inclusive, of the 90 per cent of the monies received in that fiscal year as a result of any claim or action undertaken by the attorney general against a manufacturer of cigarettes to recover the amount of medical assistance provided pursuant to chapter 118E or any other claim or action undertaken by the attorney general against a manufacturer of cigarettes including, but not limited to, the action known as Commonwealth of Massachusetts v. Philip Morris, Inc., et al., Middlesex Superior Court, No. 95-7378, the following portions shall not be deposited in the State Retiree Benefits Trust Fund but rather shall be deposited in the General Fund:
          (a) for fiscal year 2008, all of the 90 per cent of those monies;
          (b) for fiscal year 2009, 3/4 of the 90 per cent of those monies;
          (c) for fiscal year 2010, half of the 90 per cent of those monies;
          (d) for fiscal year 2011, 1/4 of the 90 per cent of those monies.
In each such fiscal year, the remainder of the 90 per cent of those monies shall be deposited in the State Retiree Benefits Trust Fund.
 
 

Summary:
This section phases in the deposit of tobacco litigation proceeds into the State Retiree Benefits Trust Fund over four fiscal years.