Thank you for sharing!

Your article was successfully shared with the contacts you provided.
n GOVERNMENT The Alaska legislature’s sale of its right to receive future tobacco settlement funds and appropriation for school projects did not violate the anti-dedication clause of the Alaska Constitution, which prohibits the current legislature from directing future funds for specific projects, the Alaska Supreme Court held on April 18. Myers v. Alaska Housing Finance Corp., No. S-9941. Alaska sold its right to receive future tobacco settlement funds for a present-value lump sum and specifically dedicated those funds for school improvement projects. Although the state Supreme Court held that the anti-dedication clause applied generally to tobacco settlement revenue, it also held that converting the right to receive future revenue to a present-value lump sum enabled the legislature to appropriate those funds for current projects. The lawsuit settlement was a state asset that the legislature was entitled to manage to control risk, the high court said.

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at [email protected]


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.