HB980: Master Settlement Agreement; assignment of escrow funds to nonparticipating manufacturer.

Chief Patron

Del. Clarke Hogan (R-60)

Clarke Hogan (R-60)
South Boston, VA
Served: 2002–

Progress

	Introduced
	Passed Committee
	Passed House
	Passed Senate
	Signed by Governor
	Became Law

Status

04/05/2006: signed by governor

View Entire History

Summary

Escrow payments on sale of certain tobacco products.  Requires the Attorney General to provide nonparticipating tobacco product manufacturers with information regarding the sale of their cigarettes in the Commonwealth in order to facilitate full and accurate escrow payments by such manufacturers. It also requires quarterly escrow payments, rather than annual, by nonparticipating tobacco product manufacturers that (i) are new to the market, (ii) default on any Master Settlement Agreement provisions, or (iii) as determined by the Attorney General, pose a risk of not making their escrow payments in the future.   View Full Text »