S.B. 1280 Summary

• Increases the carry-over limit for the tobacco enforcement special fund from $500,000 to $750,000 at the close of each fiscal year, allowing more funds to remain in the account rather than lapsing to the general fund.

• Increases the cigarette tax stamp fee from 1.7% to 2.2% of stamp denominated value, with the increase in the tobacco enforcement portion raised from 1.5% to 2.0% of stamp value.

• Increases the annual deposit from tobacco settlement moneys directed to the tobacco enforcement special fund from $350,000 to $750,000 per fiscal year.

• Establishes these changes to ensure adequate and continuous funding for the Attorney General's tobacco enforcement unit to administer and enforce the tobacco master settlement agreement and related Hawaii laws.

• Takes effect on July 1, 2050.