H.R.245 - Tobacco Equity Elimination Act of 2003108th Congress (2003-2004)
Summary: H.R.245 — 108th Congress (2003-2004)
Tobacco Equity Elimination Act of 2003 - Directs the Secretary of Agriculture to: (1) make payments to qualifying tobacco quota holders as compensation for the loss of tobacco quota asset value; (2) make transition payments to active tobacco producers, including producers who forgo obtaining a tobacco production license; and (3) assess an annual user fee on tobacco manufacturers and importers who sell in domestic U.S. commerce.
Introduced in House (01/08/2003)
Amends the Agricultural Act of 1949 with respect to tobacco price supports to: (1) revise such provisions to reflect annual production costs for each type of tobacco; (2) eliminate references to quota tobacco in no net cost provisions; and (3) eliminate tobacco from the definition of "basic agricultural commodity."
Directs the Secretary and cigarette and other tobacco-product manufacturers, respectively, to estimate annual export and domestic quantity and industry purchase requirements. Directs the Secretary to issue to each historic tobacco producer a tobacco production license in order to harmonize annual purchase intentions and production.
Assesses tobacco producers for administrative costs.
Repeals the Tobacco Control Act and specified related provisions ( thus terminating marketing quota program provisions).
Authorizes the establishment of a nonprofit Center for Tobacco-Dependent Communities which shall provide economic and community development assistance to tobacco communities in transition to non-tobacco economies.