Bill > SB235

This bill proposes several key changes to the Tobacco Products Tax Act in New Mexico: 1. It creates a new "Nicotine Use Prevention and Control Fund" to be administered by the Department of Health, with money from the tobacco products tax to be used for developing programs, educational materials, and media campaigns on nicotine use prevention and control for individuals aged 5 to 25. 2. It expands the definition of "tobacco product" to include any product containing or made from tobacco or nicotine, whether natural or synthetic, that is intended for human consumption or likely to be consumed, including e-cigarettes and e-liquids. 3. It increases the tobacco products tax rate from 25% to 31% of the wholesale price, and imposes a tax on little cigars at the same rate as the tax on cigarettes. 4. It appropriates $500,000 from the general fund to the Regulation and Licensing Department for fiscal year 2024 to expand their licensure and enforcement duties related to nicotine sales and use. The bill aims to address nicotine use and prevention, particularly among youth, by increasing the tax on tobacco products and creating a dedicated fund for related programs and education.

Budget and Finance

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=235&year=23