House Bill 447 Summary

• Increases sales tax rate from 7% to 8% on firearms, ammunition, archery equipment, motorcycles, all-terrain vehicles, and jet skis, effective July 1, 2024.

• Increases sales tax rate on alcoholic beverages from 7% to 8%, effective upon passage.

• Increases tobacco excise tax on cigarettes from 3.4 cents to 4.4 cents per cigarette and on other tobacco products and newly-defined vapor products from 15% to 16% of manufacturer's list price.

• Creates the "Mississippi Hospitals Uncompensated Care Assistance Fund" to receive tax revenue from the increases, with 80% allocated equally to all hospitals and 20% allocated to hospitals with 75 or fewer licensed beds based on uncompensated care provided.

• Fund to be administered by the Department of Health to reimburse hospitals for costs of uncompensated medical care services.