Bill Text | History of Actions | Background | Title |
Description: Tobacco product manufacturers must participate in the tobacco settlement or place certain funds into an escrow account.
Bill Text: [Introduced]
| 1 | 01/17 (S) Referred To Finance | |
| 2 | 02/01 (S) Died In Committee |
| Effective date | July 1, 2005 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| Vote type required | Majority |
Senate Committee:
Principal Author: Hyde-Smith
Title: AN ACT TO REQUIRE ANY TOBACCO PRODUCT MANUFACTURER SELLING CIGARETTES TO CONSUMERS WITHIN THIS STATE, WHETHER DIRECTLY OR THROUGH A DISTRIBUTOR, RETAILER OR SIMILAR INTERMEDIARY, TO BECOME A PARTICIPATING MANUFACTURER IN THE TOBACCO SETTLEMENT OR PLACE CERTAIN AMOUNT INTO AN ESCROW ACCOUNT; TO PROVIDE THE CIRCUMSTANCES UNDER WHICH THE FUNDS IN SUCH AN ESCROW ACCOUNT MAY BE RELEASED; TO PROVIDE THAT FUNDS THAT ARE NOT RELEASED SHALL REMAIN IN THE ESCROW ACCOUNT FOR 25 YEARS; TO PROVIDE THAT EACH TOBACCO PRODUCT MANUFACTURER THAT ELECTS TO PLACE FUNDS INTO ESCROW PURSUANT TO THIS SECTION SHALL ANNUALLY CERTIFY TO THE ATTORNEY GENERAL THAT IT IS IN COMPLIANCE WITH THIS SECTION; TO AUTHORIZE THE ATTORNEY GENERAL TO BRING A CIVIL ACTION ON BEHALF OF THE STATE AGAINST ANY TOBACCO PRODUCT MANUFACTURER THAT FAILS TO PLACE INTO ESCROW THE FUNDS REQUIRED UNDER THIS SECTION; TO PROVIDE CERTAIN CIVIL PENALTIES FOR THE FAILURE TO DEPOSIT THE CORRECT AMOUNTS INTO THE ESCROW ACCOUNT; AND FOR RELATED PURPOSES.
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2005/html/History/SB/SB2759.htm