HI SB1280

Increases the carryover limit for the tobacco enforcement special fund from $500,000 to $750,000 at the end of each fiscal year before moneys lapse to the state general fund.

Raises the cigarette tax stamp fee from 1.7% to 2.2% of the denominated value, with the portion deposited to the tobacco enforcement special fund increasing from 1.5% to 2.0%.

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

Addresses declining cigarette tax stamp revenues by stabilizing funding for the tobacco enforcement unit to maintain enforcement of the tobacco master settlement agreement and related state laws.

Takes effect on July 1, 2050.