This bill amends several sections of New Jersey's tax laws related to cigarettes and liquid nicotine. It establishes a tax rate of $0.15 per cigarette and outlines the filing requirements for licensed retail dealers, distributors, and wholesale dealers regarding the possession of cigarettes and liquid nicotine as of the effective date of the bill, which is set for August 1, 2025. Specifically, these entities must file returns under oath, detailing the quantities of cigarettes and liquid nicotine in their possession and pay the corresponding taxes at the time of filing. The bill also clarifies that failure to obtain the necessary forms will not excuse the failure to file the required returns.

Additionally, the bill modifies the distribution of revenues collected from cigarette and liquid nicotine taxes. It specifies that starting from fiscal years beginning on or after July 1, 2025, $2,000,000 of revenue from the liquid nicotine and container e-liquid taxes will be allocated to the Health Care Subsidy Fund. This allocation is part of a broader effort to fund health programs and tobacco control initiatives, including those aimed at reducing smoking among youth and the Medicaid population. The bill aims to enhance the state's public health funding through these tax revenues while ensuring compliance from retailers and distributors.

Statutes affected:
Introduced: 54:40A-8, 54:40B-3.2, 54:40B-3.4, 26:2H-18.58
Advance Law: 54:40A-8, 54:40B-3.2, 54:40B-3.4, 26:2H-18.58
Pamphlet Law: 54:40A-8, 54:40B-3.2, 54:40B-3.4, 26:2H-18.58