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House Roll Call 607 on
2005 House Bill 5048: “Securitize” tobacco lawsuit settlement revenue

To "securitize" tobacco settlement revenue as part of an agreement struck between Gov. Jennifer Granholm and Republican legislative leaders to adopt modest business tax cuts and a scaled-down "21st Century Jobs Fund." The latter would be given $400 million of "securitized" tobacco settlement revenue right away, and $75 million per year for eight years from the remaining “unsecuritized” settlement revenue stream. Future legislatures would not be bound by the $75 million per year agreement, however. The tax cut is described under the final votes on Senate Bill 633, and details of the full package by a Senate Fiscal Agency analysis (pdf).

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Democrat
901090%
1000%
9919%
52 total votes
Republican
871387%
128812%
1000%
58 total votes

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House Roll Call 607 on 2005 House Bill 5048

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