§4-11A-1. Legislative findings and purpose

Published: 2015

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WVC 4 - 11 A- 1

§4-11A-1. Legislative findings and purpose.

(a) On the twenty-third day of November, one thousand nine

hundred ninety-eight, tobacco product manufacturers entered into a

settlement agreement with the state. This master settlement

agreement releases those manufacturers from past, present and

specific future claims against them in return for payment of annual

sums of money to the state, obligates the manufacturers to change

their advertising and marketing practices and requires the

establishment by the manufacturers of a national foundation for the

interests of public health.

(b) The revenues received pursuant to the master settlement

agreement are directly related to the past, present and future

costs incurred by the state for the treatment of tobacco-related

illnesses. The receipt of revenues in the future is subject to the

ongoing risk of litigation against manufacturers or other events

that may adversely affect the financial strength of the

manufacturers. The purpose of this article is to preserve the

revenues received from the settlement.

(c) The receipt of funds in accordance with the master

settlement agreement shall be deposited only in accordance with the

provisions of this article.

(d) The state receives revenue each year under the terms of

the master settlement agreement with the tobacco manufacturers.

This revenue is used to fund programs of vital importance to the

people of West Virginia and the Legislature finds that it is in the best interest of the people of this state to protect these revenues

by the sale of the state's share to the Tobacco Settlement Finance

Authority created in section six of this article.

Note: WV Code updated with legislation passed through the 2015 Regular Session

The WV Code Online is an unofficial copy of the annotated WV Code, provided as a convenience. It has NOT been edited for publication, and is not in any way official or authoritative.