HI HB933

Reduces the general excise tax rate by one-half percent on gross proceeds from the sale of groceries eligible for purchase under the Supplemental Nutrition Assistance Program (SNAP) and Special Supplemental Nutrition Program for Women, Infants, and Children (WIC), effective January 1, 2026, regardless of purchaser eligibility or means of purchase.

Reduces the general excise tax rate by one-half percent on gross proceeds from the sale of nonprescription drugs, effective January 1, 2026.

Defines "groceries" as any food or food product for home consumption, with further definitions to be established by the Department of Business, Economic Development, and Tourism (DBEDT) in consultation with the federal Food and Nutrition Service.

Defines "nonprescription drug" as any packaged, bottled, or nonbulk chemical, drug, or medicine that may be lawfully sold without a practitioner's order, excluding devices, cosmetics, and liquor.

Requires DBEDT to conduct an economic cost-benefit analysis on the tax reductions for calendar year 2026 and submit findings to the legislature by December 1, 2026.