Bill > HB123

This bill makes several changes to the taxation of tobacco products in New Mexico. It increases the cigarette tax from $0.10 to $0.20 per cigarette sold, given, or consumed in the state. It also changes the distribution of cigarette tax revenues, increasing the amounts allocated to the University of New Mexico Comprehensive Cancer Center, the New Mexico Finance Authority for Department of Health facilities, and the Rural County Cancer Treatment Fund. Additionally, the bill updates the definition of "tobacco product" to include e-cigarettes and e-liquids, and imposes a 71% tax on the wholesale price of tobacco products, except for little cigars which are taxed at the same rate as cigarettes. The bill sets an effective date of July 1, 2023.

Health and Social Services

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=123&year=23