The bill amends Section 44-20-12 of the General Laws in Chapter 44-20, which pertains to the taxation of cigarettes and other tobacco products. It imposes a tax on all cigarettes sold or held for sale in the state. The bill introduces a provision that reduces the tax by fifty percent (50%) for any product that the Secretary of the United States Department of Health and Human Services determines to be a modified risk tobacco product, as defined in 21 U.S.C. 387K. A modified risk tobacco product is defined as any tobacco product that is sold or distributed for use to reduce the harm or risk of tobacco-related disease associated with commercially marketed tobacco products. This act is set to take effect immediately upon passage.
Statutes affected: 417: 44-20-12
417 SUB A: 44-20-12