Cigarette and tobacco products tax; increases, revenue to be deposited in Transportation Trust Fund. (SB5026)

Introduced By

Sen. Russ Potts (R-Winchester)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Increase in cigarette tax and tobacco products tax. Effective July 1, 2007, increases the cigarette tax from 1.5 cents to 5.25 cents per cigarette sold and increases the tobacco products tax from 10% of the manufacturer's sales price to 15%. All revenues generated under the bill would be deposited into the Transportation Trust Fund. For an individual package of cigarettes containing 20 cigarettes (currently the majority of packages), under the bill the cigarette tax effective July 1, 2007, would be $1.05 per pack. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
09/15/2006Presented and ordered printed 067402788
09/15/2006Referred to Committee on Finance
09/25/2006Fiscal impact statement from TAX (SB5026)
09/28/2006Passed by indefinitely in Finance (14-Y 1-N)