From the office of Rep. Amy Neighbors...
Frankfort, Kentucky (November 14, 2024) – Monroe County will receive $10,300 in tobacco settlement funds from the Kentucky Agricultural Development Fund (KADF), according to a report provided to Representative Neighbors and other lawmakers at the November meeting of the legislature’s Tobacco Settlement Agreement Fund Oversight Committee.
The funding has been approved by the Kentucky Agricultural Development Board (KADB) for the On-Farm Efficiency Incentives Program, which provides incentives for Kentucky farm families to increase the energy efficiency of existing equipment or facilities on the farm.
“I am thrilled to announce that Monroe County has been approved for $10,300 from the KADF,” said Rep. Neighbors. “I look forward to seeing how this investment will benefit farmers and farm operations in Monroe County.”
Funding is derived from the Tobacco Master Settlement Agreement Fund, which was created as a result of the 1998 Tobacco Master Settlement Agreement between four major tobacco product manufacturers and 46 states. After the settlement, the General Assembly established the guidelines for the distribution and investment of funds received from the settlement. Additionally, the General Assembly created and established the framework for the KADB, which is responsible for distributing a portion of the tobacco settlement funds through the KADF. Originally under the purview of the Office of the Governor, the General Assembly moved the KADB to the Department of Agriculture in 2021 to better serve the mission of the funds.
For more information about the Tobacco Settlement Agreement Fund Oversight Committee, please visit the Statutory Committee page on legislature.ky.gov.
