New York Gets $550 Million in Tobacco Deal

An agreement ending a decadelong dispute between New York and major tobacco companies will deliver $550 million to the state, New York City and other counties, Attorney General Eric Schneiderman is expected to announce on Tuesday.

New York state had been in arbitration over an earlier payment due in 2003 as a result of a landmark deal with the tobacco companies known as the 1998 Tobacco Master Settlement Agreement. Intended to help states pay for smoking-related public-health costs, it required tobacco companies to pay billions of dollars to states and territories over 25 years.

http://www.wsj.com/articles/new-york-gets-550-million-in-tobacco-deal-1445313660