From 2001-2007 the Michigan Merit Award Trust Fund received 75% of the State's revenue from the settlement with the tobacco industry. In 2007, however, a portion of the MSA payments were securitized and the lump sum payment was used to address a state budget deficit. In addition, legislation allocated $75 million of tobacco settlement revenues (that had not already been securitized), annually 2008 through 2015, to the 21st Century Jobs Trust Fund. The Michigan Merit Award Trust Fund supports a variety of health and education programs, including the Michigan Promise scholarship