HI SB653

Replaces the definition of "large cigar" with a new definition of "premium cigar" meaning hand-made cigars of all natural tobacco with no filters or artificial flavors, wholesaling for $2 or more, and weighing more than four pounds per thousand cigars.

Increases the excise tax on tobacco products (other than premium cigars) from 70% to 85% of the wholesale price, effective July 1, 2013.

Changes the tax on premium cigars from a percentage-based tax to a flat rate of 50 cents per cigar, effective July 1, 2013.

Maintains existing per-unit excise taxes on cigarettes (16 cents as of July 1, 2011) and little cigars (15 cents as of July 1, 2010).

Takes effect on July 1, 2013.