BILL NUMBER: S7641
SPONSOR: FERNANDEZ
 
TITLE OF BILL:
An act to amend the tax law, in relation to designating revenue
collected by the opioid excise tax for the New York state drug treatment
and public education fund
 
PURPOSE OR GENERAL IDEA OF BILL:
Designates revenue collected by the opioid excise tax for the New York
state drug treatment and public education fund.
 
SUMMARY OF PROVISIONS:
Section 1 sets the destination of funds created by the opioid excise
tax.
Section 2 sets the effective date.
 
JUSTIFICATION:
This bill will redirect the opioid excise tax monies to the New York
state drug treatment and public education fund to better New York
State's preventative addiction efforts. Current law does not specify
where the opioid excise tax funds shall be deposited. This bill brings
the opioid excise tax in line with the cannabis excise tax by directing
funds to the New York state drug treatment and public education fund. To
better New York's preventative substance use disorder efforts-and create
parity between the two excise taxes-money generated from the opioid
excise tax should be designated to the drug treatment and public educa-
tion fund.
 
PRIOR LEGISLATIVE HISTORY:
New Bill
 
FISCAL IMPLICATIONS:
TBD
 
EFFECTIVE DATE:
This act shall take effect immediately.

Statutes affected:
S7641: 498 tax law