2005 House Bill 5048 ↩

Senate Roll Call 490: Passed

To establish a state board to “securitize” or sell approximately one-third of the revenue stream from the 1998 tobacco company lawsuit settlement, the entire amount of which is approximately $280 million per year, and create regulations for this. This will reportedly generate a lump sum of $1 billion, which will be used to pay for the grants, loans and business subsidy programs proposed by <a href="http://www.michiganvotes.org/2005-HB-5047">House Bill 5047</a>.