Republican legislators are exploring a way to get investors to bear the risk if tobacco companies fail to pay the state. Cigarette-makers are to pay the state just under two-Billion dollars over the next 25 years as part of the legal settlement with Iowa. House Republican Leader Christopher Rants of Sioux City says there’s a way the state could shop around for investors in the bond market.Yesterday, the House Appropriations Committee approved a bill which spells out how the state will spend the 55-million dollars tobacco companies will pay this coming year as part of that legal settlement.
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