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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>60445</law_id><section_number>3.2-3100</section_number><catch_line>Definitions</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>2.2-309.2</reference><reference>32.1-366</reference><reference>58.1-402</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="3.2">Agriculture, Animal Care, and Food</unit><unit label="subtitle" level="2" order_by="1" identifier="II">Boards, Councils, Foundations, and Commissions</unit><unit label="part" level="3" order_by="1" identifier="D">Tobacco Region Revitalization Commission and Virginia Tobacco Region Revolving Fund</unit><unit label="chapter" level="4" order_by="1" identifier="31">Tobacco Region Revitalization Commission</unit></structure><text>
						<section><p>As used in this chapter, unless the context requires a different meaning:
		&#x201C;<span class="dictionary">Active tobacco producer</span>&#x201D; means a person actively engaged in planting, growing, harvesting, and marketing of flue-cured or burley tobacco, or who shares in the variable expenses of producing the crop.
		&#x201C;Agreement&#x201D; means the agreement or <span class="dictionary">agreements</span> between the Commonwealth, as seller of the <span class="dictionary">Tobacco Assets</span>, and the <span class="dictionary">Corporation</span>, as purchaser of the <span class="dictionary">Tobacco Assets</span>. The sale by the Commonwealth of the <span class="dictionary">Tobacco Assets</span> pursuant to any such agreement shall be a true sale and not a borrowing.
		&#x201C;Commission&#x201D; means the Tobacco Region Revitalization Commission created pursuant to &#xA7;&#xA0;<a class="law" title="Tobacco Region Revitalization Commission created; purposes" href="/3.2-3101/">3.2-3101</a>.
		&#x201C;<span class="dictionary">Commission Allocation</span>&#x201D; means 50 percent of the annual amount received under the <span class="dictionary">Master Settlement Agreement</span> by the Commonwealth, or that would have been received but for a sale of such allocation pursuant to an agreement, between the commencing and ending dates specified in the agreement.
		&#x201C;<span class="dictionary">Corporation</span>&#x201D; means the Tobacco Settlement Financing <span class="dictionary">Corporation</span> as created under state <span class="dictionary">law</span>.
		&#x201C;<span class="dictionary">Endowment</span>&#x201D; means the Tobacco Indemnification and Community Revitalization <span class="dictionary">Endowment</span> established pursuant to &#xA7;&#xA0;<a class="law" title="Tobacco Indemnification and Community Revitalization Endowment" href="/3.2-3104/">3.2-3104</a>.
		&#x201C;<span class="dictionary">Fund</span>&#x201D; means the Tobacco Indemnification and Community Revitalization <span class="dictionary">Fund</span> established pursuant to &#xA7;&#xA0;<a class="law" title="Tobacco Indemnification and Community Revitalization Fund; tax credits for technology industries in tobacco-dependent localities" href="/3.2-3106/">3.2-3106</a>.
		&#x201C;<span class="dictionary">Master Settlement Agreement</span>&#x201D; means the settlement agreement and related documents between the Commonwealth and leading United States tobacco product manufacturers dated November 23, 1998, and including the Consent <span class="dictionary">Decree</span> and Final <span class="dictionary">Judgment</span> entered in the <span class="dictionary">Circuit</span> <span class="dictionary">Court</span> of the City of Richmond on February 23, 1999, <span class="dictionary">Chancery</span> Number HJ-2241-4.
		&#x201C;<span class="dictionary">Period of sale</span>&#x201D; means the time during which a purchaser under an agreement is entitled to receive the <span class="dictionary">Commission Allocation</span>.
		&#x201C;<span class="dictionary">Strategic Plan</span>&#x201D; means the <span class="dictionary">strategic plan</span> required pursuant to subsection C of &#xA7;&#xA0;<a class="law" title="Powers and duties of the Tobacco Region Revitalization Commission" href="/3.2-3103/">3.2-3103</a>.
		&#x201C;<span class="dictionary">Tobacco Assets</span>&#x201D; means all right, title, and interest in and to the portion of the <span class="dictionary">Commission Allocation</span> that may be sold to the <span class="dictionary">Corporation</span>.</p></section></text><history>1999, cc. 880, 962, &#xA7; 9-380; 2001, cc. 807, 844, &#xA7; 3.1-1106; 2002, cc. 482, 488; 2008, c. 860; 2015, cc. 399, 433.</history><metadata></metadata></law>
