§ 143-720. Benefits and administration of Fund for compensatory programs. - North Carolina Statutes

§ 143‑720.  Benefits and administration of Fundfor compensatory programs.

(a)        Funds held in the Fund may be expended on compensatoryprograms as provided in this section.

(b)        The Fund may provide direct and indirect financialassistance, in accordance with criteria established by the Commission and tothe extent allowed by law, to accomplish the following:

(1)        Indemnify tobacco producers, allotment holders, and personsengaged in tobacco‑related businesses from the adverse economic effectsin this State of the Master Settlement Agreement.

(2)        Compensate tobacco producers, allotment holders, and personsengaged in tobacco‑related businesses for economic loss resulting fromlost quota and compensate tobacco producers for the decline in value of tobacco‑relatedpersonal property assets and declining market conditions resulting from theMaster Settlement Agreement in this State.

(3)        Compensate individuals displaced from tobacco‑relatedemployment in this State as a result of the adverse economic effects of the MasterSettlement Agreement.

(4)        Compensate tobacco product component businesses that are (i)adversely impacted by the Master Settlement Agreement and that (ii) needfinancial assistance to retool machinery or equipment or to retrain workers, inorder to convert to the production of new products or nontobacco use ofexisting products, or to effect other similar changes.

(c)        Only tobacco producers, persons engaged in tobacco‑relatedbusinesses, individuals displaced from tobacco‑related employment, andtobacco product component businesses in this State, and holders of NorthCarolina tobacco allotments are eligible to apply for and receive assistancepursuant to subsection (b) of this section. Direct payments made to tobaccoproducers, tobacco allotment holders, and persons engaged in tobacco‑relatedbusinesses shall be based on losses resulting in 1998 and thereafter. Lostquota shall be a primary determinative factor in calculating the amount ofcompensable economic loss for tobacco producers, allotment holders, and personsengaged in tobacco‑related businesses.

(d)        The Commission shall determine the priority of awards amongthe categories in subsection (b) of this section and within each of thosecategories.

(e)        Financial assistance awards shall be for no more than oneyear at a time. An award may be renewed annually, without limitation.

(f)         The Commission may require applicants to provide copies ofdocuments necessary to determine compensable economic loss.

(g)        In no event shall the amount paid to a tobacco producer orallotment holder pursuant to this Article, when combined with the amountreceived through the National Tobacco Grower Settlement Trust, exceed thecompensable economic loss of the producer or allotment holder.

(h)        The Commission may consider the criteria used for NationalTobacco Grower Settlement Trust payments and may correspond with the NationalTobacco Grower Settlement Trust certification entity to ensure that tobaccofarmers and allotment holders are treated fairly. (2000‑147, s. 3.)