Fiscal Facts
Winter 2002/2003- Number 30
Complete issue 
Feature Articles
Securitizing Tobacco Settlements:
The Basics, the Benefits, the Risks
by E. Matthew
Quigley
In this time of fiscal hardship for American states, governors
and legislators across the country are searching for ways
to make up for revenue shortfalls. Partly because of the severity
of the revenue crisis, innovative and unconventional means
of raising cash have begun to surface. One of these approaches,
the topic of this article, is the securitization of tobacco
settlement revenues.
Full text article with charts
Six-State Review
Year-to-date revenues for the first four months of FY2003
were above their FY2002 level in most New England states.
Hit hard by dramatically diminished tax receipts and/or increased
spending pressures, all six states closed FY2002 with deficits
that had to be eliminated by end-of-the-year fiscal measures...
Full text article