The state of Iowa is getting about 53-million dollars for its annual tobacco settlement payment. That money is part of the 1998 agreement between the 50 states and big tobacco companies. State officials say about 12-million dollars will go into the general fund and the rest will go to pay off bondholders. Iowa sold bonds as a sort of loan against the settlement payments. Attorney General Tom Miller says Iowa has received a total of $1.4-billion dollars so far. National smoking rates have been cut by almost half as the settlement money was put toward stop smoking programs.
