HI SB188

Replaces the definition of "large cigar" with a new definition of "premium cigar" defined as cigars made entirely by hand from natural tobacco leaf, hand-constructed and hand-wrapped, with no filter or artificial flavors, wholesaling for $2 or more per cigar, and weighing more than four pounds per one thousand cigars

Changes the excise tax on premium cigars from 50% of wholesale price to a flat rate of 50 cents per cigar, effective January 1, 2014

Updates the "tobacco products" definition to reference "premium cigars" instead of "large cigars"

Aims to help local premium cigar sellers compete with mail order cigar businesses by making their products more competitively priced while increasing state tax revenue

Effective date set for July 1, 2050