On Tuesday Iowa Attorney General Brenna Bird announced a settlement agreement with Tobacco Manufacturers giving the state extra payments totaling $171 million over the next six years.
Iowa is set to receive an additional $136 million in April 2024, with the rest disbursed annually from 2025 to 2029.
According to Iowa law, 78% of these payments will pay down the State’s debt to bondholders and the remaining will be deposited in the State Treasury’s Rebuild Iowa Infrastructure Fund.
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