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2005 House Bill 5048 (“Securitize” tobacco lawsuit settlement revenue ) (House Roll Call 468)

Passed in the House (103 to 1) on September 28, 2005, to establish a state board to “securitize” or sell approximately one-third of the revenue stream from the 1998 tobacco company lawsuit settlement, the entire amount of which is approximately $280 million per year, and create regulations for this. This will reportedly generate a lump sum of $1 billion, which will be used to pay for the grants, loans and business subsidy programs proposed by House Bill 5047. [History, Amendments & Comments]

The vote was 103 in favor, 1 opposed, and 6 not voting
(House Roll Call 468 at House Journal 82)

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Vote
Support Support
Oppose Oppose
Not Voting Not Voting
Undecided
Legislators (Democrat)
96496%
1000%
3973%
52 total votes
Legislators (Republican)
91991%
1991%
6946%
58 total votes

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The following legislators supported 2005 House Bill 5048 (“Securitize” tobacco lawsuit settlement revenue ):

Accavitti (D) Acciavatti (R) Adamini (D) Amos (R) Anderson (D) Angerer (D)
Ball (R) Baxter (R) Bennett (D) Bieda (D) Booher (R) Brandenburg (R)
Brown (D) Byrnes (D) Byrum (D) Casperson (R) Caswell (R) Caul (R)
Cheeks (D) Clack (D) Clemente (D) Condino (D) DeRoche (R) Dillon (D)
Donigan (D) Elsenheimer (R) Emmons (R) Espinoza (D) Farhat (R) Farrah (D)
Gaffney (R) Gillard (D) Gleason (D) Green (R) Hansen (R) Hildenbrand (R)
Hood (D) Hoogendyk (R) Hopgood (D) Huizenga (R) Hummel (R) Hune (R)
Hunter (D) Jones, Rick (R) Kahn (R) Kehrl (D) Kolb (D) Kooiman (R)
LaJoy (R) Law, David (R) Law, Kathleen (D) Leland (D) Lemmons, III (D) Lemmons, Jr. (D)
Lipsey (D) Marleau (R) Mayes (D) McConico (D) McDowell (D) Meisner (D)
Meyer (R) Miller (D) Moolenaar (R) Moore (R) Mortimer (R) Murphy (D)
Newell (R) Nitz (R) Nofs (R) Palmer (R) Palsrok (R) Pastor (R)
Pavlov (R) Pearce (R) Phillips (D) Plakas (D) Polidori (D) Proos (R)
Robertson (R) Rocca (R) Sak (D) Schuitmaker (R) Shaffer (R) Sheen (R)
Sheltrown (D) Smith, Alma (D) Smith, Virgil (D) Spade (D) Stahl (R) Stakoe (R)
Steil (R) Taub (R) Tobocman (D) Vagnozzi (D) Van Regenmorter (R) Vander Veen (R)
Walker (R) Ward (R) Waters (D) Whitmer (D) Williams (D) Wojno (D)
Zelenko (D)      

The following legislators opposed 2005 House Bill 5048 (“Securitize” tobacco lawsuit settlement revenue ):

Gosselin (R)

The following legislators did not vote on 2005 House Bill 5048 (“Securitize” tobacco lawsuit settlement revenue ):

Cushingberry (D) Drolet (R) Garfield (R) Gonzales (D) Stewart (R) Wenke (R)

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Most Recent Comments

1) Central planning won't fix Michigan [by Anonymous Citizen on August 21, 2006]
History shows that subsidies, picking winners and losers, and government planning committees are not what create prosperity in a state. Instead, get the incentives right through broad-based tax cuts and jobs will come.
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2) 2005 House Bill 5048 (“Securitize” tobacco lawsuit settlement revenue ) [by admin on January 1, 2001]
Introduced in the House on July 6, 2005, to establish a state board to “securitize” or sell approximately one-third of the revenue stream from the 1998 tobacco company lawsuit settlement, the entire amount of which is approximately $280 million per year, and create regulations for this. This will reportedly generate a lump sum of $1 billion, which will be used to pay for the grants, loans and business subsidy programs proposed by House Bill 5047

The vote was 103 in favor, 1 opposed and 6 not voting

(House Roll Call 468 at House Journal 82)

Click here to view bill details.
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