Wednesday, June 9, 1999 | 11:37 a.m.
CARSON CITY -- The first payment of Nevada's $1.2 billion share of the national tobacco settlement was placed in an escrow account Monday, a check for $14.8 million.
Though the state has plans on how to spend the funds, the money can't be touched until June 1, 2000, or until 80 percent of the 46 states and territories participating in the settlement have signed on to the agreement. Nevada is the 29th state to sign on.
Gov. Kenny Guinn's Millennium Scholarship plan will use 40 percent of the settlement. Under that plan, Nevada high school students who graduate with a B average or better will be entitled to receive money to attend schools in the University and Community College System of Nevada.
Students attending a community college would receive $40 per credit, while those attending UNLV or the University of Nevada, Reno would receive $80 per credit.
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