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Welcome to Troutman Sanders LLP's Phase I Tobacco Indemnification Program (TIP) web site. You will find important information regarding the Phase I Tobacco Indemnification and Community Revitalization Funds in this site. In 1999, Governor James S. Gilmore, III proposed and the General Assembly approved legislation allocating fifty (50) percent of the Master Settlement Agreement money due the Commonwealth of Virginia to tobacco community revitalization in Southside and Southwest Virginia. The legislation also established the Tobacco Indemnification and Community Revitalization Commission and charged it with the responsibility of distributing the Phase I funds to growers, quota holders and affected communities for economic development and revitalization. The first distribution of the Phase I funds was made in June 2000. The next distribution of Phase I funds is planned to begin in June 2012. The Virginia Tobacco Indemnification and Community Revitalization Commission has selected the law firm of Troutman Sanders LLP to act for the Commission as fiduciary agent in the distribution of Phase I funds to qualified Virginia tobacco growers and quota holders. The Phase I - Tobacco Indemnification and Community Revitalization Funds derived from the Master Settlement Agreement are separate from another fund distributed through the Phase II - Virginia Tobacco Trust Fund, dedicated by tobacco companies to Virginia tobacco growers and quota holders. The Phase I Program is also separate from the Tobacco Transition Payment Program ("TTPP or "Buyout"). Since 2000, the Commission has made available $309 million to Virginia's tobacco producers and quota owners. In January 2012, the Commission announced that it has reached the end of its indemnification obligation. The 2012 payment will be the final distribution of Phase I Indemnification funds. At that time, the Commission will have satisfied its statutory obligation to indemnify burley and flue-cured producers and quota owners.
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The Virginia Tobacco Indemnification and Community Revitalization Commission ("the Commission") confirmed on January 10, 2012 that 2012 will mark the end of the Phase I Indemnification Program. Since 2000, the Commission has made available $309 million to Virginia's tobacco growers and owners, thereby fulfilling its statutory obligation. On April 29, 2010, the Commission announced that it was nearing the end of its indemnification obligation and expected the 2012 payment to be the final distribution of Phase I Indemnification funds. During last Tuesday's meeting the Commission resolved that upon the end of its 2012 payment distributions, it will cease to operate an indemnification program and that as of July 1, 2013, any unclaimed indemnification funds will be reallocated to economic development efforts.