Bill > SB680

This bill modifies the definition of "cigarette" to include products intended to be heated or burned, and it provides a 50% exemption from the cigarette stamp excise tax for these heated tobacco products. The cigarette stamp tax is a tax levied on cigarettes, typically paid by affixing stamps to the packaging. The bill also requires the Oklahoma Tax Commission, the state agency responsible for tax collection, to create rules and regulations to implement this new exemption and ensure that stamps are available for heated tobacco products by the act's effective date. Additionally, the bill updates statutory language and references to reflect these changes.