SB 375 Modifies provisions of the master settlement agreement regarding the refund of escrow payments
Sponsor: Parson
LR Number: 1700S.01I Fiscal Note: 1700-01N.ORG
Committee: Commerce, Consumer Protection, Energy and the Environment
Last Action: 5/3/2011 - Hearing Cancelled S Commerce, Consumer Protection, Energy and the Environment Committee Journal Page:
Title: Calendar Position:
Effective Date: Emergency Clause

Full Bill Text | All Actions | Available Summaries | Senate Home Page | List of 2011 Senate Bills

Current Bill Summary


SB 375 - This act removes the allocable share release provision of the master settlement agreement, which allows nonparticipating tobacco product manufacturers to obtain a refund if they can establish that the amount such manufacturer paid into escrow exceeds the amount of the state's allocable share of the total payments the manufacturer would have been required to make in that year as a participating manufacturer under the master settlement agreement. Nonparticipating tobacco manufacturers will be able to obtain a refund to the extent they can establish that the amount such manufacturer paid into escrow exceeds the amount the manufacturer would have to pay, based upon the number of cigarettes sold, as a participating manufacturer under the master settlement agreement.

This act contains an emergency clause and is identical to House Bill 491 (2011).

JASON ZAMKUS