Plan to divide oil spill money going to Mississippi governor

Plan to divide oil spill money going to Mississippi governor

JACKSON, Miss. (AP) - Mississippi lawmakers are sending the governor a plan to divide nearly $700 million from an oil spill settlement, with most of the money going to coastal counties.

Representatives on Wednesday passed the same bill that senators passed Tuesday night. The House vote was 99 in favor and 10 opposed.

Republican Gov. Phil Bryant asked lawmakers to consider the plan, and he is expected to sign it into law.

BP PLC is paying Mississippi $750 million through 2033 to make up for lost tax revenue from the 2010 Deepwater Horizon oil spill in the Gulf of Mexico.

Lawmakers have already spent $52.4 million of the money, but nearly $100 million is sitting in the bank and 15 yearly payments of $40 million a year will begin in 2019.

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