Tobacco Market Transition Act

[AI summary unavailable — showing source text] Tobacco Market Transition Act - Establishes in the Treasury the Tobacco Community Revitalization Trust Fund, which shall be administered by the Tobacco Production Control Corporation (Corporation). States that amounts shall be used for program expenses and to compensate tobacco producers and quota holders for costs related to the changeover from the current tobacco program to the program provided for by this Act. Directs the Corporation to provide: (1) compensation (based upon pounds and base quota level) to eligible tobacco quota holders for loss of tobacco quota asset value; and (2) transition payments (based upon pounds and production base) to eligible active tobacco producers. Directs the Secretary of Agriculture to forgive specified loans made to tobacco producer-owned cooperative marketing associations, and transfer related inventories to the Commodity Credit Corporation. Transfers related funds held in a No Net Cost Tobacco Fund or No Net Cost Tobacco Account to the Fund. Directs the Corporation to consider transition payments for other persons involved in tobacco production and marketing. Amends the Internal Revenue Code to treat: (1) tobacco quota holder compensation as lo…