SB 1203 Modifies release of escrow funds for non-participating tobacco manufacturers
LR Number:4464S.01I Fiscal Note:4464-01
Committee:Ways and Means
Last Action:02/17/04 - Hearing Conducted S Ways & Means Committee Journal page:
Effective Date:August 28, 2004
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Current Bill Summary

SB 1203 - This act modifies the amount of escrow funds that may be released by tobacco manufacturers who do not participate in the Master Settlement Agreement and are required to deposit a certain amount of funds into an escrow fund. Such manufacturers may have funds released from escrow to the extent that the funds placed in escrow on account of units sold in this state in a particular year are greater than the Master Settlement Agreement payments that such manufacturer would have been required to make if it had been a participating manufacturer.