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Fla. Tobacco Settlement Fund Threatened
December 22, 2008

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News Summary

Facing a $2.3-billion budget shortfall, Florida Gov. Charlie Crist is eyeing a $1.4 billion fund established by the state's 1997 settlement with the tobacco industry, but opponents say they will go to court to block any attempt to raid the fund, the Orlando Sentinel reported Dec. 19.

The Lawton Chiles Endowment Fund, named for the late Florida governor who launched the lawsuit against the tobacco industry, provides $55 million each year for children's health programs. But a special legislative session slated for January could include an attempt to drain up to $1 billion from the fund to close the state's budget gap.

"We certainly respect the legacy of the fund and the goal of the fund. Having said that, this is not a new issue that just came up," said House Rules Committee Chairman Bill Galvano. "We very well might go into those funds -- in fact, it's almost inevitable."

Steve Yerrid, a Tampa lawyer, is trying to enlist the aid of the legal team that worked on the original settlement deal to block any attempt to raid the endowment. Chiles' family also is threatening to sue and have the late governor's name taken off the fund if it gets drained.

COMMENTS ON THIS ARTICLE:

Posted by Jodi on 23 Dec 08 04:51 PM EST
On December 2, 2008 Law Enforcement Against Prohibition put out a report saying we could save over 70 Billion dollars ending prohibition of drugs. While in Brevard we are losing the school Math club and the state is eyeing the tobacco education fund, the country can make billions on taxed and controlled cannabis. FL farmers could take part in a billion dollar hemp industry and a multi – billion dollar recreational use market. These aren’t new markets for FL, just untaxed revenue for those currently involved. When is FL going to get off the pot and tax adults using cannabis?

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