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Posted on: November 9, 2022

Former Tobacco Stabilization COOP to Issue Payments in 2023

Former Tobacco Stabilization COOP to Issue Payments in 2023

N.C. Cooperative Extension, Pitt County Center to Assist Pitt County Farmers 

 

PITT COUNTY, N.C. – The N.C. Cooperative Extension, Pitt County Center announces Pitt County farmers who previously farmed flue-cured tobacco may qualify to receive payments beginning in 2023 in an attempt to recapture money that was paid to the Flue-Cured Tobacco Stabilization Corporation. 

 

Extension Agent Mitch Smith explains, “during July 2022, as a part of an approved plan for the former cooperative to reorganize in bankruptcy, a judge ruled that a lump sum begin to be dispersed in 2023 to former quota holders who farmed under the tobacco price support program.  This bankruptcy agreement will continue to provide payments to qualified applicants over the following 11 years based on the continued operation of U.S. Tobacco Cooperative Inc.”

 

It is believed there are approximately 200,000 former quota holders in the southeastern U.S. who may qualify to receive some level of payment beginning in 2023.  Approximately $70 million is expected to be dispersed over this 12 year period.  More than 200 Pitt County farmers and former quota holders could qualify for this compensation. 

 

To qualify, former Pitt County quota holders, or heirs, must complete an application and provide proof of membership with the Flue-Cured Tobacco Stabilization Corporation during the period of 1946-2004 to be eligible for payment consideration.  This may be done by supplying the requested “FC Number” or information sufficient to prove that they (or their spouse) marketed tobacco during this period. 

 

The application deadline is 5:00 p.m. on Monday, December 12, 2022.  

 

To learn more about the claims process, visit the Pitt County Cooperative Extension website or contact Agent Mitch Smith at 252-714-1445.  

 

The Mission of Pitt County Government is to enhance the health, safety, and well-being of our community by advocating for and providing quality services in a friendly and cost-effective manner. Learn more: www.PittCountyNC.gov.

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