|SB 0561||Creates grants for communities with economies dependent on tobacco production|
|LR Number:||2536S.01I||Fiscal Note:||2536-01|
|Committee:||Pensions and General Laws|
|Last Action:||01/18/00 - Hearing Conducted S Pensions & General Laws Committee||Journal page:|
|Effective Date:||August 28, 2000|
SB 561 - This act creates a grant program to diversify the economy of communities dependent upon tobacco production. The source of funds for the grant is the money received pursuant to the tobacco master settlement agreement. Under this act:
- Grants shall be awarded by the Rural Economic Development Council and administered the Office of Rural Development.
- Three tobacco-dependent communities (defined as a city or county, or any combination of cities or counties in which the economy of such area is dependent upon the production of tobacco) may apply for and receive a grant of an amount from $300,000 to $900,000 per year, for five years; and
The program shall terminate on August 28, 2010.