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ID H0330

Bill

Official Source

Status

Passed

4/6/2023

Primary Sponsor

Revenue and Taxation Committee

Click for details

Origin

House of Representatives

2023 Regular Session

AI Summary

  • Maintains the tobacco products tax rate at 35% of wholesale sales price and the additional tax rate at 5% of wholesale sales price
  • Caps the combined tax on cigars at $0.50 per cigar across both tax provisions
  • Removes obsolete language related to a floor stocks tax imposed on July 1, 1972, and reporting requirements from that date
  • Retains existing allocation of 50% of additional tax revenue to public school income fund for school safety and substance abuse prevention, with specified portions to Idaho State Police ($200,000 annually) and Commission on Hispanic Affairs ($80,000 annually)
  • Becomes effective on July 1, 2023, with an emergency clause declared

Legislative Description

Amends existing law to provide for a tobacco tax cap of fifty cents per cigar.

TOBACCO TAXES

Last Action

Reported Signed by Governor on April 4, 2023 Session Law Chapter 291 Effective: 07/01/2023

4/6/2023

Committee Referrals

State Affairs3/21/2023
Revenue and Taxation3/16/2023

Full Bill Text

No bill text available