June 17 is Deadline to Apply for 2005 Tobacco Payment

Source from:  amnews.com 06/16/2005

Tobacco quota holders and producers are reminded that the deadline to sign-up for the USDA's Tobacco Transition Payment Program (also called "Tobacco Buyout") is June 17. "Sign-up is important for quota holders and producers so they can enroll in the tobacco program before June 17 and be eligible to receive the first of 10 payments," said Jeffery S. Hall, state executive director. Eligible quota holders will receive $7 per pound upon their basic quota at the 2002 marketing year level. Producers of quota tobacco will receive up to $3 per pound payment based on their share of the risk in the 2002, 2003, and 2004 crops of quota tobacco. The Tobacco Transition Payment Program marks the end of the federal tobacco marketing quota and price support loan programs. "Signing up for the TTPP is the final and only opportunity to receive federal payments related to tobacco production," said Hall. For more information, call 1-866-887-0140 or visit www.fsa.usda.gov/tobacco. Enditem