Colorado receives annual payments from tobacco manufacturers as part of the Tobacco Master Settlement Agreement (MSA). In April 2021, the state received $86.6 million, which was used to determine distributions to MSA-funded programs for the Current FY 2021-22. This document presents a forecast for annual receipts from the Tobacco MSA through FY 2023-24. The state is expected to receive $86.9 million in 2022; the actual amount received in 2022 will determine disbursements to MSA-funded programs in FY 2022-23. Payments are expected to be $87.8 million in 2023 and $83.6 million in 2024.