Louisiana Gov. Bobby Jindal's administration is moving ahead with a plan to sell the state's remaining share of a massive tobacco settlement, despite criticism the move would waste a valuable asset for a quick fix to budget problems.
A board that oversees the settlement agreed to the idea Monday, though several more approvals would be needed before any sale.
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Treasurer John Kennedy objected, saying Jindal's plan is driven by desperation to find money for a budget awash in red ink.
Jindal and lawmakers have repeatedly plugged budget holes with short-term financing, creating continued shortfalls.
Commissioner of Administration Kristy Nichols says the administration proposal doesn't involve a one-year cash infusion, but $750 million that could be spent over eight years to pay for Louisiana's free college tuition program.