GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1995

S	1 

SENATE BILL 975

Short Title:  Transfer Tobacco Assessments.	(Public)

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Sponsors: Senators Albertson, Warren, and Speed.

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Referred to:  Agriculture/Environment/Natural Resources

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May 3, 1995

A BILL TO BE ENTITLED
AN ACT TO AUTHORIZE THE DEPOSIT OF TOBACCO ASSESSMENT FUNDS WITH THE NORTH CAROLINA TOBACCO FOUNDATION.
The General Assembly of North Carolina enacts:
Section 1.  G.S. 106-568.8(b) reads as rewritten:
"(b)	Tobacco Poundage Assessments.  In the event two-thirds or more of the eligible farmers and producers participating in the tobacco referendum vote in favor of the tobacco poundage assessment authorized under this Article, then said assessment shall be collected for a period of six years under rules, regulations, and methods adopted by the North Carolina Tobacco Research Commission.  The North Carolina Tobacco Research Commission is exempt from the provisions of Chapter 150B of the General Statutes.
The assessments collected shall be remitted to the Department of Agriculture to be expended under the direction of the Tobacco Research Commission for research and dissemination of research facts concerning tobacco.  Any person that receives assessment funds from the Tobacco Research Commission shall file quarterly written reports with the Tobacco Research Commission on the receipt and expenditure of assessment funds.  The Tobacco Research Commission may transfer assessments to the North Carolina Tobacco Foundation, Inc., to be held and invested by the Tobacco Foundation until such time as the Commission shall direct their expenditure for the purposes set forth in this section."
Sec. 2.  This act is effective upon ratification.