SPONSOR: Wright
Currently, a tax is levied upon the sale of cigarettes at an amount equal to eight and one half mills per cigarette, until such time as the General Assembly appropriates an amount equal to 25% of the net Federal reimbursement allowance to the Health Initiatives Fund, then the tax will be six and one half mills per cigarette beginning July 1st of the fiscal year immediately after such appropriation.
Beginning January 1, 2027, an additional tax will be levied upon the sale of cigarettes at an amount equal to the lowest amount of tax levied on the sale of cigarettes by any other state or ten mills per cigarette, whichever is lower. The revenue generated by this additional tax will be disbursed as specified in the bill.
This bill contains a referendum clause and will not become effective unless approved by a majority of the qualified voters in the State.
This bill is similar to HB 521 (2025).
Statutes affected: