NOTE:  As provided in LFC policy, this report is intended only for use by the standing finance committees of the legislature.  The Legislative Finance Committee does not assume responsibility for the accuracy of the information in this report when used for other purposes.

 

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F I S C A L   I M P A C T   R E P O R T

 

 

 

SPONSOR:

Beam

 

DATE TYPED:

3/7/03

 

HB

765

 

SHORT TITLE:

Nonparticipating Tobacco Manufacturers Cap

 

SB

 

 

 

ANALYST:

Smith

 

REVENUE

 

Estimated Revenue

Subsequent

Years Impact

Recurring

or Non-Rec

Fund

Affected

FY03

FY04

 

 

 

 

NFI

 

 

 

 

 

 

 

 

(Parenthesis ( ) Indicate Revenue Decreases)

 

SOURCES OF INFORMATION

 

Responses Received From

 

DFA

 

SUMMARY

 

     Synopsis of Bill

 

House Bill 765 amends the state model statute pursuant to the Tobacco Master Settlement Agreement (MSA), Section 6-4-13, Subsection B.  The amendment adds clarifying language outlining the circumstances in which a nonparticipating manufacturer will receive a refund for overpayments made.  Non-participating manufacturers will be allowed reimbursement of fees paid in excess of the fees required to be paid had it been a participating manufacturer.

           

The bill also contains a severability clause.

 

SS/njw