Bill > SB65

This bill amends existing New Mexico law to include "nicotine products" alongside "tobacco products" in various tax and regulatory provisions. Specifically, it expands the definition of the "Tobacco and Nicotine Products Tax Act" to encompass nicotine products, which are defined as liquid solutions containing nicotine intended for consumption via an "electronic delivery device" (any electronic device that provides a vapor of nicotine simulating smoking). The bill introduces a new excise tax of four cents per milligram of nicotine in these products, payable by the first purchaser, and requires manufacturers to label nicotine products with their total nicotine content in milligrams. It also mandates periodic compliance testing by the Department of Health's scientific laboratory division to verify accurate nicotine content reporting. Furthermore, the bill clarifies that the existing tax administration act applies to the new "Tobacco and Nicotine Products Tax Act," and it makes conforming changes to exemptions, deductions for interstate sales, and refund/credit provisions to include nicotine products.