Protecting State Revenues Sample Clauses

Protecting State Revenues. In the framework above, the states may lose revenues due to increased NPM competition. States can prevent this problem by enacting a “Qualifying Statute” that will immunize them from downward NPM adjustments.129 Qualifying Statutes require NPMs to join the MSA or pay a per-unit amount into an escrow account.130 The amount of the escrow payments is set in such a way as to erase the cost advantage for NPMs who do not participate in the MSA.131 Further, many states have enacted Contraband Statutes to enforce their Qualifying Statutes.132 These statutes make it illegal for NPMs to sell cigarettes in a Settling State without first complying with the Qualifying Statute. For example, New York’s Contraband Statutes require manufac- turers to certify that they are in compliance with the state’s Qualifying Statute before their cigarettes can get a New York state cigarette tax stamp.133 Any cigarettes without the tax stamp may be confiscated.134 The ultimate effect of the Qualifying and Contraband Statutes is to force every nonparticipating cigarette manufacturer to join the MSA as an SPM, and thus be subject to its market share restrictions or face large fines. 128. MSA, supra note 116, §§ II(cc), (jj). To trigger this reduction (known as “the NPM adjustment”), the participating manufacturers as a whole must lose market share and an economic consulting firm must determine that the MSA was “a significant factor” con- tributing to the loss. Id. § IX(d)(1)(C), at 61. The payment obligation is reduced based on the amount of market share loss. Id. § IX (d)(1)(A). 129. The MSA defines a Qualifying Statute as one “that effectively and fully neutral- izes the cost disadvantages that the Participating Manufacturers experience vis-à-vis Non- Participating Manufacturers within such Settling State as a result of the provisions of this Agreement.” Id. § IX(d)(2)(E), at 65. If the state has a Qualifying Statute on the books, its Allocated Payment is not subject to an NPM Adjustment. Id. § IX(d)(2)(B), at 63. An “Allocated Payment” is a particular state’s share of the OPM payment obligation. Id. § II(g). 130. The MSA includes a model Qualifying Statute. Id. exhibit T. The model statute requires any tobacco product manufacturer selling tobacco products within the state to either (1) join the MSA or (2) pay a per-unit amount into a state escrow fund. Id. exhibit T, at T-3 to T-4. Every Settling State has enacted a Qualifying Statute, also known as an “Escrow Statute.” Freedom Holdin...
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Related to Protecting State Revenues

  • Operating Statements In the case of each Mortgage Loan, the related Mortgage or another Mortgage Loan document requires the related Mortgagor, in some cases at the request of the lender, to provide the holder of such Mortgage Loan with at least quarterly operating statements and rent rolls (if there is more than one tenant) for the related Mortgaged Property and annual financial statements of the related Mortgagor, and with such other information as may be required therein.

  • Monthly Billing Statements The Engineer shall request reimbursement of costs incurred by submitting the original and one copy of an itemized billing statement in a form acceptable to the State. The Engineer is authorized to submit requests for reimbursement no more frequently than monthly and no later than ninety (90) days after costs are incurred.

  • Recording Costs Seller shall pay the cost of recording all documents necessary to place record title in the condition required by this Agreement other than the cost of recording the Deed which shall be paid by Purchaser.

  • Production Report and Lease Operating Statements Within 60 days after the end of each fiscal quarter, a report setting forth, for each calendar month during the then current fiscal year to date, the volume of production and sales attributable to production (and the prices at which such sales were made and the revenues derived from such sales) for each such calendar month from the Oil and Gas Properties, and setting forth the related ad valorem, severance and production taxes and lease operating expenses attributable thereto and incurred for each such calendar month.

  • PERSONAL PROPERTY TAX All personal property taxes will be paid by Contractor.

  • FORMAT AND CONTENT FOR REGISTRY OPERATOR MONTHLY REPORTING Registry Operator shall provide one set of monthly reports per gTLD, using the API described in draft-­‐xxxxxx-­‐icann-­‐registry-­‐interfaces, see Specification 2, Part A, Section 9, reference 5, with the following content. ICANN may request in the future that the reports be delivered by other means and using other formats. ICANN will use reasonable commercial efforts to preserve the confidentiality of the information reported until three (3) months after the end of the month to which the reports relate. Unless set forth in this Specification 3, any reference to a specific time refers to Coordinated Universal Time (UTC). Monthly reports shall consist of data that reflects the state of the registry at the end of the month (UTC).

  • Billing Statements ‌ 8.1 Condition 22.4 (Contents of Billing Statement) of the Conditions shall be amended so that Condition 22.4(I) is deleted and replaced by the following provisions:

  • Fire Department Service Charge We will pay up to $500 for your liability assumed by contract or agreement for fire department charges incurred when the fire department is called to save or protect covered property from a Peril Insured Against. We do not cover fire department service charges if the property is located within the limits of the city, municipality or protection district furnishing the fire department response. This coverage is additional insurance. No deductible applies to this coverage.

  • Earning Statements The Company will make generally available (which includes filings pursuant to the Exchange Act made publicly through the XXXXX system) to its security holders as soon as practicable, but in any event not later than 16 months after the end of the Company’s current fiscal year, an earnings statement (which need not be audited) covering a 12-month period that shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 of the Rules and Regulations.

  • Utility Bills Copies of all utility bills (gas, electric, water and sewer) relating to the Property for the immediately prior twelve (12) month period.

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