$863,000 From June of Tobacco Checks Settlement Unclaimed

Source from:  Associated Press courier-journal.com 01/05/2006

Some Kentucky tobacco growers have unclaimed money waiting for them in state coffers. More than 5,000 checks totaling more than $863,000 were returned to the state after it mailed them in June as part of the Phase II Tobacco Settlement program. The checks were among 164,000 -- totaling $114 million -- that were sent out. Some were returned because no forwarding address was left, the forwarding address had expired, the recipient was deceased or the post office box was closed. To get the money to its owners, the state has a Web site that lists the returned checks' intended recipients. "This money belongs to tobacco farmers, and we want to make sure they get it," state Sen. Ernesto Scorsone, D-Lexington, said in a statement. More returns are expected from another round of 164,000 checks sent out Friday. Those checks total $16.5 million. The June checks will expire after a year. If their recipients do not collect, the money will go into an unclaimed property fund. After three years, the state may spend the money. The checks sent out last week will be the last. The Phase II program was superseded by the Federal Tobacco Buyout in October 2004. Quota holders and growers will receive $9.6 billion over the next decade. Kentucky tobacco quota holders, growers and tenants have received more than $732.6 million from tobacco companies in the Phase II program since 1999. Enditem