Tobacco Master Settlement Agreement; bond requirements and escrow payments by certain manufacturers. (SB1268)

Introduced By

Sen. Steve Martin (R-Chesterfield)

Progress

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

Description

Tobacco Master Settlement Agreement; bond requirements; escrow payments by certain manufacturers. Requires that the bond posted by manufacturers for inclusion in the Directory be equal to the greater of $50,000 or the escrow amount the manufacturer was required to deposit based on its highest calendar year's sales in Virginia. Under current law, the bond amount to be posted is the greater of $50,000 or the escrow amount the manufacturer was required to deposit based on its previous calendar year's sales in Virginia. The bill also adds nonparticipating manufacturers that have been designated by the Attorney General as an elevated risk to the list of those manufacturers that may be required to make escrow payments on a quarterly rather than an annual basis. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/12/2011Prefiled and ordered printed; offered 01/12/11 11103868D
01/12/2011Referred to Committee on Agriculture, Conservation and Natural Resources
01/24/2011Rereferred from Agriculture, Conservation and Natural Resources (13-Y 0-N) (see vote tally)
01/24/2011Rereferred to Courts of Justice
01/25/2011Assigned Courts sub: Civil
01/31/2011Reported from Courts of Justice (15-Y 0-N) (see vote tally)
02/01/2011Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/02/2011Passed by for the day
02/03/2011Read second time and engrossed
02/04/2011Read third time and passed Senate (37-Y 0-N) (see vote tally)
02/07/2011Placed on Calendar
02/07/2011Read first time
02/07/2011Referred to Committee on Militia, Police and Public Safety
02/08/2011Placed on Calendar
02/08/2011Read first time
02/08/2011Referred to Committee on Agriculture, Chesapeake and Natural Resources
02/16/2011Reported from Agriculture, Chesapeake and Natural Resources (21-Y 0-N) (see vote tally)
02/17/2011Read second time
02/18/2011Read third time
02/18/2011Passed House BLOCK VOTE (95-Y 0-N)
02/18/2011VOTE: BLOCK VOTE PASSAGE (95-Y 0-N) (see vote tally)
02/24/2011Enrolled
02/24/2011Bill text as passed Senate and House (SB1268ER)
02/24/2011Signed by Speaker
02/24/2011Signed by President
03/08/2011Impact statement from DPB (SB1268ER)
03/18/2011G Approved by Governor-Chapter 297 (effective 7/1/11)
03/18/2011G Acts of Assembly Chapter text (CHAP0297)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 35 seconds.