The main component of the Fair and Equitable Tobacco Reform Act is the Tobacco Transition Payment Program (TTPP, otherwise known as the "Tobacco Buyout"), which was formalized by the United States Department of Agriculture in February 2005.
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The Fair and Equitable Tobacco Reform Act is a component of the American Jobs Creation Act, passed in the United States in October 2004.
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The Tobacco Buyout ended all aspects of the federal tobacco marketing quota and price support loan programs that were established by the Agricultural Adjustment Act in 1938.
The Fair and Equitable Tobacco Reform Act of 2004 (P.L. 108-357, Title VI) ended tobacco quotas for 2005 crop and subsequent years.
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