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State legislation works to create Opioid Settlement Fund for settlements won regarding opioid sales

The state legislature passed legislation last week that would allow money from legal settlements with opioid manufacturers in New York to go in to a new fund.

This would help to address criticism Albany has received for not directing enough aid to opioid abuse.

The bill, the Opioid Settlement Fund, would require money from settlements involving opioid manufacturers and distributors to go into this fund. The money currently goes into the state’s general coffers.

The legislation will also create an advisory board that focuses on recommending to the Legislature how the settlement money should be spent and state agencies would provide reports on how the funding is being allocated.

Advocates have said statistics show opioid deaths have increased by 200% between 2010 and 2017.

In 2019 New York sued Purdue Pharma and its affiliates over its sale of opioids.

The state was given $32 million out of a $573 million national settlement with McKinsey & Company, a former consultant for Purdue, earlier this year.