This bill amends various 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. These entities must file returns under oath, detailing the number of cigarettes or amount of liquid nicotine in their possession as of the effective date of the bill, and pay the corresponding taxes. The bill also specifies that failure to obtain the necessary forms does 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 mandates that starting from fiscal years beginning on or after July 1, 2025, $2,000,000 of revenue from liquid nicotine and container e-liquid taxes will be deposited into the Health Care Subsidy Fund. This fund is intended to support health programs and initiatives, particularly those aimed at tobacco control and reducing smoking rates among vulnerable populations. The act is set to take effect on August 1, 2025.

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