October 11, 2016
The attorney general's office recovered $33.95 million and delivered that money to the state Treasury on Monday. In a press release, Attorney General Jim Hood encouraged the Mississippi Legislature to use the money to offset budget shortfalls for vital state services.
“Hopefully, this will undo some of the damage inflicted to agency budgets because of state leaders’ untimely devotion to tax breaks for big businesses,” Hood said in the release. “Those misguided corporate tax cuts along with the problems associated with Senate Bill 2362 and the Legislature’s mathematical error have led to a reduction of beds at the State Hospital, layoffs at the Department of Revenue and the Forestry Commission, and closure of National Guard armories. Lawmakers will fall far short of collecting the $188 million that they anticipated collecting in the special funds sweep, and I’m concerned that there are more significant budget cuts ahead.”
The majority of the $33,951,305 is from a judgment against pharmaceutical manufacturer Sandoz Inc., which defrauded the state by manipulating the prices it charged for its drugs to the state Medicaid program.