Domestic tobacco; incentive payments for use by nonparticipating manufacturers. (HB1204)

Introduced By

Del. Israel O'Quinn (R-Bristol) with support from co-patron Del. Terry Kilgore (R-Gate City)

Progress

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

Description

Incentive payments for use of domestic tobacco by nonparticipating manufacturers. Extends through 2014 the incentive payments made to certain nonparticipating manufacturers using domestic tobacco to manufacture cigarettes. Incentive payments in 2013 and 2014 would equal the amount paid by the nonparticipating manufacturer for domestic tobacco that was used by the manufacturer in manufacturing cigarettes in the respective year, but not to exceed five percent of the amount that the manufacturer paid into a qualified escrow account in the preceding year to escrow funds for potential future claims against the manufacturer.

Current law provides that a manufacturer eligible for an incentive payment is a person or entity that (i) does not participate under the tobacco Master Settlement Agreement, (ii) is in compliance with all obligations imposed on nonparticipating manufacturers, and (iii) has made an irrevocable assignment to the Commonwealth of the moneys it paid into the qualified escrow account.   Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/19/2012Committee
01/19/2012Presented and ordered printed 12104409D
01/19/2012Referred to Committee on Finance
01/24/2012Assigned Finance sub: #1
01/28/2012Impact statement from TAX (HB1204)
02/06/2012Referred from Finance
02/06/2012Referred to Committee on Appropriations
02/07/2012Assigned App. sub: Health & Human Resources
02/08/2012Subcommittee recommends laying on the table
02/20/2012Left in Appropriations