SB 1527 Summary

• Imposes a 43% tax on the wholesale cost of electronic smoking devices, including e-cigarettes, vape pens, and related components and liquids.

• Creates a new definition of "electronic smoking device" in state tax law and adds it to the list of taxable luxuries alongside traditional tobacco products.

• Allocates all revenue collected from the electronic smoking device tax to the health research account to fund Alzheimer's disease research through a statewide consortium and tobacco-related disease research.

• Provides that the first $5,000,000 deposited in the health research account each year must be distributed to the Alzheimer's disease research consortium.

• Requires a two-thirds vote in both chambers of the legislature for passage and approval by the governor.