Iowa to receive more money from tobacco companies

DES MOINES — Iowa’s Attorney General says the settlement of a dispute with the four largest tobacco companies will lead to more money for the state.

Attorney General Brenna Bird says Iowa is one of nine states that were still involved in the long-running legal action over payments from the 1998 settlement agreement with the tobacco companies. Bird says the settlement will lead to extra payments of more than $171 million over the next six years.

Iowa law requires that 78% of the payments be used to pay down the state’s debt to bondholders and the remaining money goes to the Rebuild Iowa Infrastructure Fund.