The Tobacco Master Settlement Agreement, or MSAs, was signed in 1998 between four of the largest cigarette manufacturers – Philip Morris, R.J. Reynolds, Brown & Williamson, and Lorillard – and 46 states in the US. The agreement was intended to resolve the states` claims for reimbursement of Medicaid funds spent on treating smoking-related illnesses.

Under the terms of the agreement, the tobacco companies agreed to make annual payments to the states in perpetuity to offset the costs of smoking-related healthcare. The payments were to be made in perpetuity or until such time as the tobacco companies ceased to exist or ceased manufacturing cigarettes in the US.

While the original agreement was signed for a term of 25 years, it has been extended several times, with the latest extension taking place in 2017. The extension, which was agreed upon by the four original participating manufacturers and 24 states, stipulated that the payments would continue until 2030.

However, it`s important to note that not all tobacco companies are bound by the MSA. For example, the MSA does not apply to e-cigarette companies or companies that were not signatories to the agreement. Additionally, some states have passed legislation requiring non-participating manufacturers to make payments to the state for the same purpose as the MSA payments.

In summary, the Tobacco Master Settlement Agreement was signed for a term of 25 years but has been extended several times, with the current extension stipulating that the payments will continue until 2030. However, not all tobacco companies are bound by the agreement, and some states have passed legislation requiring non-participating manufacturers to make payments as well.