HI SB2692

Increases excise tax on tobacco products (other than large cigars) from 70 percent to 80 percent of wholesale price, effective January 1, 2017.

Applies the new 80 percent tax rate to all tobacco products including loose and roll-your-own tobacco, ensuring no lower-priced tobacco alternative exists to cigarettes.

Directs all revenue collected from the new 80 percent excise tax to the Hawaii cancer research special fund for research, operating expenses, and capital expenditures.

Establishes that the previous 70 percent tax rate (in effect since September 30, 2009) continues for tobacco products until the new rate takes effect.

Cites public health justification including approximately 1,400 annual tobacco-related deaths in Hawaii and $526 million in direct health care costs, with intent to reduce smoking rates among youth and adults.