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GA SB537
Bill
Status
Introduced
2/20/2024
Primary Sponsor
Nikki Merritt
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AI Summary
- Increases the excise tax on consumable vapor products (both open-system and non-reusable vapor devices) from 7% to 15% of the wholesale cost price
- Eliminates the separate tax category for closed-system consumable vapor products (previously taxed at 5¢ per fluid milliliter), consolidating all consumable vapor products under the 15% wholesale cost price rate
- Expresses the General Assembly's intent that state proceeds from tax rate increases on or after July 1, 2024, be appropriated annually to address healthcare issues affecting Georgia residents
- Requires the Department of Revenue, upon request by the chairperson of either the House or Senate Appropriations Committee, to report the amount of increased proceeds derived in the prior fiscal year
- Leaves existing excise tax rates unchanged for cigarettes (37¢ per pack of 20), little cigars (2.5 mills each), other cigars (23% of wholesale cost), and loose or smokeless tobacco (10% of wholesale cost)
Legislative Description
Taxes on Tobacco and Vaping Products; rate of the tax on consumable vapor products; increase
Last Action
Senate Read and Referred
2/21/2024
Committee Referrals
Regulated Industries and Utilities2/21/2024
Full Bill Text
No bill text available