.jpg)
Glamour's Women of the Year
UD vs. Northern Kentucky
Magic visits with area students
Strickland, lawmakers act to keep money for jobs program
Tuesday, April 08, 2008
COLUMBUS — Gov. Ted Strickland today, April 8, signed legislation aimed at making sure that $230 million once allocated for anti-smoking programs now will be available for the state's proposed $1.57 billion economic stimulus plan.
Strickland's action followed approval of the legislation earlier in the day by the House and Senate. It's emergency legislation that takes effect immediately,
Extras
"This is not the way we wanted to do it," said Husted. He said action last Friday, April 4, by the Ohio Tobacco Prevention Foundation left no choice.
The foundation's board voted to transfer $190 million to anti-smoking efforts, blocking the state from using the money for the economic stimulus plan. On Monday the foundation wrote Treasurer Richard Cordray formally asking him to transfer the $190,000 to the American Legacy Foundation, an anti-smoking program but the legislation signed by Strickland appears to negate that request.
Cordray's office immediately started the process to liquidate the foundation's endowment as required by the new law, a Cordray press release said.
"The foundation is in consultation with its legal counsel and cannot comment further," Michael Renner, foundation executive director, said in a prepared statement.
The legislation signed by Strickland, Senate Bill 192, will liquidate the foundation's endowment – now about $270 million – and put $40 million aside to pay the foundations' obligations.
The legislation directs Cordray to put the rest of the money – about $230 million – into the state treasury and be credited to the newly created Jobs Fund.
Husted said the merits of the economic stimulus plan would be discussed later but it was necessary to act quickly to make sure the money was available.
In addition to the foundation money, funds for the economic stimulus plan would come from $970 million in bonds – including $400 million requiring voter approval – and $370 million from the state's general revenue fund.
Contact this reporter at (614) 224-1608 or whershey@DaytonDailyNews.com.
