(1) For many years, the State and its prosperity have beensupported by its agricultural economy and particularly by the tobacco‑relatedsegment of the agricultural economy. The Master Settlement Agreement isexpected to cause significant economic hardship upon the tobacco‑relatedsegment of the agricultural economy in that it is expected to result in reduceddemand, sales, and prices for tobacco as an agricultural product.
(2) Tobacco producers, tobacco allotment holders, and personsengaged in tobacco‑related businesses are entitled to indemnification forthe adverse economic effects in the State resulting from the Master SettlementAgreement, tobacco producers, allotment holders, and persons engaged in tobacco‑relatedbusinesses are entitled to compensation for the economic losses resulting fromlost quota in this State, and tobacco producers are entitled to compensationfor the decline in value of tobacco‑related personal property assets anddeclining market conditions in this State resulting from the Master SettlementAgreement, to the extent that funds are available in the Tobacco Trust Fund toaddress those purposes.
(3) Even in the absence of the Master Settlement Agreement, thetobacco‑related segment of the State's economy is experiencing severeeconomic hardship as it confronts a national decline in the use of, and demandfor, tobacco products, which decline is expected to continue. At present, thetobacco producers, tobacco allotment holders, and persons engaged in tobacco‑relatedbusinesses are facing an economic crisis that threatens their health andsurvival. Therefore, in addition to indemnification and compensation for lossesin this State resulting from the Master Settlement Agreement, the publicinterest will be served by the funding of qualified agricultural programs thatsupport, foster, encourage, and facilitate a strong agricultural economy inNorth Carolina. To the extent that funds are available in the Tobacco TrustFund, expenditure of those funds to finance qualified agricultural programs isin the public interest.
(4) It is a public purpose for these funds to be expended inthis manner, and it is public service for these persons to accept these fundsto the end that conditions of unemployment and fiscal distress may bealleviated or avoided, more stable local economies may be created, local taxbases may be stabilized and maintained, natural resources may be optimallyused, and the general public may be benefited. (2000‑147, s. 3.)
(1) For many years, the State and its prosperity have beensupported by its agricultural economy and particularly by the tobacco‑relatedsegment of the agricultural economy. The Master Settlement Agreement isexpected to cause significant economic hardship upon the tobacco‑relatedsegment of the agricultural economy in that it is expected to result in reduceddemand, sales, and prices for tobacco as an agricultural product.
(2) Tobacco producers, tobacco allotment holders, and personsengaged in tobacco‑related businesses are entitled to indemnification forthe adverse economic effects in the State resulting from the Master SettlementAgreement, tobacco producers, allotment holders, and persons engaged in tobacco‑relatedbusinesses are entitled to compensation for the economic losses resulting fromlost quota in this State, and tobacco producers are entitled to compensationfor the decline in value of tobacco‑related personal property assets anddeclining market conditions in this State resulting from the Master SettlementAgreement, to the extent that funds are available in the Tobacco Trust Fund toaddress those purposes.
(3) Even in the absence of the Master Settlement Agreement, thetobacco‑related segment of the State's economy is experiencing severeeconomic hardship as it confronts a national decline in the use of, and demandfor, tobacco products, which decline is expected to continue. At present, thetobacco producers, tobacco allotment holders, and persons engaged in tobacco‑relatedbusinesses are facing an economic crisis that threatens their health andsurvival. Therefore, in addition to indemnification and compensation for lossesin this State resulting from the Master Settlement Agreement, the publicinterest will be served by the funding of qualified agricultural programs thatsupport, foster, encourage, and facilitate a strong agricultural economy inNorth Carolina. To the extent that funds are available in the Tobacco TrustFund, expenditure of those funds to finance qualified agricultural programs isin the public interest.
(4) It is a public purpose for these funds to be expended inthis manner, and it is public service for these persons to accept these fundsto the end that conditions of unemployment and fiscal distress may bealleviated or avoided, more stable local economies may be created, local taxbases may be stabilized and maintained, natural resources may be optimallyused, and the general public may be benefited. (2000‑147, s. 3.)
(1) For many years, the State and its prosperity have beensupported by its agricultural economy and particularly by the tobacco‑relatedsegment of the agricultural economy. The Master Settlement Agreement isexpected to cause significant economic hardship upon the tobacco‑relatedsegment of the agricultural economy in that it is expected to result in reduceddemand, sales, and prices for tobacco as an agricultural product.
(2) Tobacco producers, tobacco allotment holders, and personsengaged in tobacco‑related businesses are entitled to indemnification forthe adverse economic effects in the State resulting from the Master SettlementAgreement, tobacco producers, allotment holders, and persons engaged in tobacco‑relatedbusinesses are entitled to compensation for the economic losses resulting fromlost quota in this State, and tobacco producers are entitled to compensationfor the decline in value of tobacco‑related personal property assets anddeclining market conditions in this State resulting from the Master SettlementAgreement, to the extent that funds are available in the Tobacco Trust Fund toaddress those purposes.
(3) Even in the absence of the Master Settlement Agreement, thetobacco‑related segment of the State's economy is experiencing severeeconomic hardship as it confronts a national decline in the use of, and demandfor, tobacco products, which decline is expected to continue. At present, thetobacco producers, tobacco allotment holders, and persons engaged in tobacco‑relatedbusinesses are facing an economic crisis that threatens their health andsurvival. Therefore, in addition to indemnification and compensation for lossesin this State resulting from the Master Settlement Agreement, the publicinterest will be served by the funding of qualified agricultural programs thatsupport, foster, encourage, and facilitate a strong agricultural economy inNorth Carolina. To the extent that funds are available in the Tobacco TrustFund, expenditure of those funds to finance qualified agricultural programs isin the public interest.
(4) It is a public purpose for these funds to be expended inthis manner, and it is public service for these persons to accept these fundsto the end that conditions of unemployment and fiscal distress may bealleviated or avoided, more stable local economies may be created, local taxbases may be stabilized and maintained, natural resources may be optimallyused, and the general public may be benefited. (2000‑147, s. 3.)
