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July 30, 2010
THE VIRGINIA TOBACCO INDEMNIFICATION AND COMMUNITY REVITALIZATION COMMISSION EXTENDS 2010 DEADLINE TO AUGUST 20, 2010
In June the Virginia Tobacco Indemnification and Community Revitalization Commission made payment on more than 45,000 Phase I flue-cured and burley quota owner and producer claims totaling over $19 million dollars.
Claimants who submitted a Verification for Payment form or Application for Payment requiring a change in ownership or claim information, will be paid in the next round of payment in September.
The Virginia Tobacco Commission has extended the final deadline for 2010 Phase I Verification Forms and Applications for Payment to August 20, 2010. Completed and signed Forms must be postmarked no later than August 20, 2010 to be eligible for payment under the 2010 Phase I Program. Claims postmarked later than August 20, 2010 may not receive payment under this year's Phase I Program.
Please note that if you submitted your Verification Form prior to May 19, 2010 and/or have already received your 2010 Phase I Indemnification payment, you do not need to submit any further information. The August 20, 2010 deadline applies only to those claimants who missed the original May 19, 2010 submission deadline and have not yet received payment for 2010.
Since 2000, the Commission has made available $288.3 million to Virginia's tobacco growers and owners. On April 29, 2010, the Commission announced that it is nearing 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 successfully indemnified burley and flue-cured producers and quota owners.
Claimants who need additional information may contact Troutman Sanders, Phase I Tobacco Indemnification Program, Monday through Friday, 8:30 AM until 4:30 PM (excluding holidays) locally at 804-697-1869 or Toll Free at 1-888-629-7682. Information is also available on the Program's website at www.vatip.com.
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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 2010.
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 $288.3 million to Virginia's tobacco growers and owners. On April 29, 2010, the Commission announced that it is nearing 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 successfully indemnified burley and flue-cured producers and quota owners.
Phone:
Mon.-Fri. 8:30 AM - 4:30 PM excluding holidays
Toll Free 1-888-629-7682
Local 804-697-1869
Fax: 804-697-1860
Mail:
Tobacco Indemnification Program - Phase I
c/o Troutman Sanders LLP
P.O. Box 1198
Richmond, Virginia 23218-1198
Email:
Tobacco@vatip.com
© 2010 Troutman Sanders LLP
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