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1999 SESSION

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HB 2635 Tobacco Indem. and Community Revitalization Commission and Fund.

Introduced by: Whittington W. Clement | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Tobacco Indemnification and Community Revitalization Commission and Fund; Virginia Tobacco Settlement Foundation Fund. Establishes the Tobacco Indemnification and Community Revitalization Commission to administer funds received by the Tobacco Indemnification and Community Revitalization Fund. The Fund shall receive 50 percent of the funds received by the Commonwealth pursuant to the tobacco Master Settlement Agreement. The Commission shall use the moneys in the Fund to make payments to tobacco farmers and for projects in tobacco dependent communities. The bill also creates the Virginia Tobacco Settlement Fund, to receive 10 percent of the funds received by the Commonwealth under the Master Settlement Agreement. This Fund shall be administered by the newly-created Virginia Tobacco Settlement Foundation. This Fund will be used to finance efforts to limit the use of tobacco products by minors.

SUMMARY AS PASSED HOUSE:

Tobacco Indemnification and Community Revitalization Commission and Fund. Establishes the Tobacco Indemnification and Community Revitalization Commission to administer funds received by the Tobacco Indemnification and Community Revitalization Fund. The Fund shall receive 60 percent of the funds received by the Commonwealth pursuant to the tobacco Master Settlement Agreement, and the Commission shall distribute one-sixth of the funds it receives to the Virginia Tobacco Settlement Fund, and use the balance of the Fund to make payments to tobacco farmers and for projects in tobacco dependent communities. The money in the Virginia Tobacco Settlement Fund will be administered by the newly-created Virginia Tobacco Settlement Foundation, and will be used to finance efforts to restrict the use of tobacco products by minors.

SUMMARY AS INTRODUCED:

Tobacco Indemnification and Community Revitalization Commission and Fund. Establishes the Tobacco Indemnification and Community Revitalization Commission to administer funds received by the Tobacco Indemnification and Community Revitalization Fund. The Commission is comprised of twenty-one members as follows: five members appointed by the Speaker of the House of Delegates, three appointed by the Privileges and Elections Committee of the Senate, three local elected officials, two flue-cured tobacco farmers, two burley tobacco farmers, two representatives of public health interests, one representative of the Virginia Farm Bureau Federation, and three citizens appointed by the Governor. With the exception of the two representatives of public health interests, all members of the Commission shall be chosen from the Southside and Southwest regions of the Commonwealth. The Fund shall receive 60% of the funds received by the Commonwealth pursuant to the tobacco Master Settlement Agreement.