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Senate Roll Call 577 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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Republican
861486%
138713%
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22 total votes
Democrat
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16 total votes

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Senate Roll Call 577 on 2005 House Bill 5048

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