Bill > HB3210

This bill establishes a new excise tax of $1.50 per pack on cigarettes, with the revenue generated to be deposited into a newly created "Healthcare Revolving Fund." This fund, managed by the State Treasurer, will be available for appropriation by the Legislature to "eligible agencies" – state agencies that use state funds to match federal money for programs like Medicaid (Title XIX of the Social Security Act) and the Children's Health Insurance Program (Title XXI of the Social Security Act), with a priority on stabilizing reimbursement rates for healthcare services. The bill also specifies that this new tax revenue will not be used to calculate distributions for certain existing bond sinking funds. Additionally, it places a restriction on the sale of cigarette excise tax stamps by the Oklahoma Tax Commission, limiting wholesalers to purchasing amounts no more than their average monthly purchases from the previous year, unless they can demonstrate a probable increase in sales. This act is set to become effective on September 1, 2016.