More tobacco money’s on the way to the state as a Florida-based cigarette company has signed onto the multi-state tobacco company settlement. Bob Brammer of the Iowa Attorney General’s Office says the Vibo Corporation has agreed to join the settlement that was first approved in 1998. He says they’re the largest company that was not in the original master settlement agreement. He says the agreement will bring the states one-point-seven billion dollars over ten years. Iowa’s share would be nearly 15-million dollars. Brammer says it shouldn’t take long to get the money. He says they’ll make a payment right away of about 78-million dollars and Iowa’s share of that will be about 660-thousand dollars. Brammer says the company will fork over the money and also have to abide by other restrictions placed on tobacco companies in the settlement. He says they’ll be bound by the requirements for things like limiting the amount of advertising aimed at kids. Brammer says the state has already collected millions from the settlement. He says the Iowa share since 1998 has topped 300-million dollars. He says some of that has gone to bondholders after the state sold bonds based on the settlement to get the money right away. Brammer says the money from a tobacco company goes into a pool that’s used for tobacco prevention and health programs.
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