HB 0814 (Truly Agreed) | Requires non-participating tobacco manufacturers to deposit funds into escrow account |
SCS/HCS/HB 814 - This act is intended to neutralize any cost disadvantage that the participating tobacco manufacturers experience in the state by requiring non-participating manufacturers to deposit moneys into an escrow account, based on sales of units in the state. Participating manufacturers are those who have agreed to the Master Settlement Agreement with the state. The funds can be withdrawn either due to judgments on released claims, overpayment of funds, or after 25 years have expired, in which case they revert to the manufacturers who deposited the funds. Violations may result in a civil penalty.
The act contains an emergency clause, and is similar to SB
417.
JOAN GUMMELS