MS HB1732

Increases the cigarette excise tax from 3.4 cents to 3.5 cents per cigarette (up to 120 millimeters in length), with longer cigarettes taxed as multiple cigarettes

Raises the tobacco equity tax on cigarettes from nonsettling manufacturers from 1.35 cents to 3.4 cents per cigarette, with annual increases of 3% or the Consumer Price Index rate, whichever is greater

Cigarettes from manufacturers who are parties to the tobacco settlement agreement remain exempt from the tobacco equity tax

Revenue from the tobacco equity tax is deposited into the State General Fund

Brings forward numerous existing statutes related to gasoline, diesel fuel, special fuel, compressed gas taxes, and sales tax diversions for purposes of possible future amendment, with no changes to those provisions