Loading chat...
MO HB343
Bill
Status
1/27/2011
Primary Sponsor
Michael Corcoran
Click for details
AI Summary
-
Imposes a phased increase in cigarette excise tax beginning January 1, 2012, adding 6.25 mills per cigarette in 2012 and increasing by increments until reaching 50 mills per cigarette for all years beginning January 1, 2019
-
Tax increases are scheduled as follows: 6.25 mills (2012), 12.5 mills (2013), 18.75 mills (2014), 25 mills (2015), 31.25 mills (2016), 37.5 mills (2017), 43.75 mills (2018), and 50 mills (2019 and beyond)
-
Revenue generated by the additional tax imposed under the new subsection 9, minus a 3% reduction allowance, shall be deposited into the state general revenue fund
-
Maintains existing cigarette tax structure at 8.5 mills per cigarette (or 6.5 mills if the general assembly appropriates 25% of net federal reimbursement allowance to the health initiatives fund), with the new phased increases applied in addition to this base rate
-
Retains all existing provisions regarding tax stamps, wholesaler records, sample cigarette distribution, and fair share fund and health initiatives fund distributions
Legislative Description
Increases the excise tax on cigarettes of 17 cents per pack of 20 cigarettes by 12.5 cents per pack per year for eight years until the excise tax on cigarettes reaches $1.17 per pack
Last Action
Referred: Ways and Means (H)
4/12/2011