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    Who are the NERD fund donors Mr Snyder?

    Raise the curtain.

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    Real quick... | 4 comments (4 topical, 0 hidden)
    some more history... (none / 0) (#3)
    by J Baranowski on Mon Nov 02, 2009 at 12:00:28 PM EST
    Here's a bit more on the Michigan Promise history:

    Since 2000, Michigan has received approximately $300 million per year as part of the tobacco Master Settlement Agreement (MSA). Through legislation, Michigan committed tobacco settlement revenue to two trust funds: the Michigan Merit Award Trust Fund and the Tobacco Settlement Trust Fund (TSTF abolished in 2005.

    From 2001-2007 the Michigan Merit Award Trust Fund received 75% of the State's revenue from the settlement with the tobacco industry. In 2007, however, a portion of the MSA payments were securitized and the lump sum payment was used to address a state budget deficit. In addition, legislation allocated $75 million of tobacco settlement revenues (that had not already been securitized), annually 2008 through 2015, to the 21st Century Jobs Trust Fund. The Michigan Merit Award Trust Fund supports a variety of health and education programs, including the Michigan Promise scholarship

    Real quick... | 4 comments (4 topical, 0 hidden)
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