Bill > HB33

This bill: 1. Increases the cigarette tax rate from $0.10 to $0.20 per cigarette. 2. Modifies the distribution of cigarette tax revenues, including allocating larger portions to the University of New Mexico Comprehensive Cancer Center, the Department of Health facilities, and the New Mexico Finance Authority's credit enhancement account. 3. Expands the definition of "tobacco product" in the Tobacco Products Tax Act to include nicotine, regardless of the source, and adds e-cigarettes, e-liquids, and closed system cartridges to the list of taxable tobacco products. 4. Increases the tax rate on closed system cartridges from $0.50 to $3.32 per cartridge, and raises the tax rate on other tobacco products (excluding cigarettes, cigars, and little cigars) from 25% to 77% of the product value. 5. Sets the effective date of the provisions to July 1, 2022.

Health and Social Services

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=33&year=22