AG says Nevada will get about $39 million in tobacco payments for 2000
Nevada has received its first $15 million in tobacco settlement money and may get about $39 million more in the next three days.
Attorney General Frankie Sue Del Papa said the tobacco companies don’t have to make those payments until January and April but may put that money in the state’s hands by New Year’s for tax reasons.
But Del Papa said even though the money may come a bit quicker, the state should still be cautious in spending it because the payments could be lower than originally expected. That is a result of the volume reduction contained in the settlement deal which says that if cigarette sales drop, payments to the states go down as well.
“Although this means the amount of money the state receives may be reduced as a result of the decreasing sales of tobacco products, it also indicates that fewer cigarettes are being consumed in the United states,” she said.