R.I. (Legal Newsline) - Rhode Island Attorney General Peter F. Kilmartin
announced March 24 that his office has reached a settlement with various
settlement stems from a dispute over the master settlement agreement (MSA)
between Rhode Island and tobacco manufacturers for the years 2004 through 2014.
The MSA has existed since 1998, when Rhode Island and 51 other states and
territories settled with tobacco companies over public health issues. Under the
MSA, companies are required to make payments to the states in perpetuity to
help offset state costs for smoking-related diseases.
As a result
of Kilmartin’s recent settlement, Rhode Island will receive $10 million this
fiscal year and the state’s tobacco bondholders will receive $40 million.
only does this settlement resolve significant risk for both the bond holders
and the state, it also results in approximately $10 million for Rhode
Island in this fiscal year,” Kilmartin said. “I am so proud of the work the
attorneys did on behalf of the office and the state on this case."
the case for Rhode Island was special assistant attorney general Maria Lenz and
the Civil Division.