MI SB0722

Amends the 1999 tobacco escrow law to modify the definition of "qualified escrow fund" by requiring the financial institution to have assets of at least $1,000,000,000.00 and no affiliation with tobacco manufacturers.

Establishes per-unit escrow deposit requirements for non-participating tobacco manufacturers selling cigarettes in Michigan, ranging from $0.0094241 per unit in 1999 to $0.0188482 per unit from 2007 onward, adjusted annually for inflation.

Requires quarterly and annual certification of escrow deposits with the Department of Treasury, with deposits due within 30-90 days following each quarter.

Authorizes the Attorney General to pursue civil actions against manufacturers failing to deposit required escrow funds, with penalties up to 5% daily (100% total) for violations and 15% daily (300% total) for knowing violations, plus potential sales prohibitions for repeat violations.

Allows tobacco manufacturers to assign their escrow fund interests permanently to the state, with assigned funds withdrawable by the state treasurer to credit against judgments or settlements.