2024 Tobacco Master Settlement Agreement Forecast

Colorado receives annual payments from tobacco manufacturers as part of the Tobacco Master Settlement Agreement (MSA). In April 2023, the state received $93.1 million, which was used to determine distributions to MSA-funded programs for the current FY 2023-24.

This document presents a forecast for annual receipts from the Tobacco MSA through 2026. The state is expected to receive $86.7 million in 2024; the actual amount received in 2024 will determine disbursements to MSA‑funded programs in FY 2024-25. Payments are expected to be $83.0 million in 2025 and $80.6 million in 2026.