HI HB476

Imposes an excise tax of 50% of the otherwise applicable tax under section 245-3 on wholesalers for each modified risk tobacco product sold, used, or possessed.

Defines "modified risk tobacco product" as any product for which a modified risk tobacco product order has been issued by the Secretary of the U.S. Department of Health and Human Services pursuant to 21 U.S. Code section 387k(g).

Adds definitions for "e-liquid" (liquid designed for use in electronic smoking devices, excluding prescription drugs and medical cannabis) and "smoke" or "smoking" (inhaling, exhaling, or possessing lighted tobacco or electronic smoking devices creating aerosol or vapor).

Amends the definition of "tobacco products" to include e-liquid, electronic smoking devices, and expanded categories of tobacco in any form intended for human consumption whether smoked, heated, chewed, absorbed, dissolved, inhaled, or ingested.

Repeals section 245-31 requiring monthly reports on cigarette and tobacco product distributions and stamp purchases.

Effective date: July 1, 2060.