(HB 1139)
Education enhancement tobacco tax and
health care tobacco tax trust funds created.
Section
1.
That chapter
4-5
be amended by adding thereto a NEW SECTION to read as
follows:
Section
2.
That chapter
4-5
be amended by adding thereto a NEW SECTION to read as
follows:
Section
3.
That
§
10-50-52
be amended to read as follows:
10-50-52.
The first thirty million dollars in revenue collected annually pursuant to this chapter
shall be deposited in the general fund. All revenue in excess of thirty million dollars collected
annually shall be deposited in the tobacco prevention and reduction trust fund. Five million dollars
of the revenue deposited annually in the tobacco prevention and reduction trust fund pursuant to
this section shall be used to implement the tobacco prevention and reduction program. Thirty-three
percent of any revenue deposited in the tobacco prevention and reduction trust fund in excess of
five million dollars shall be transferred to the property tax reduction fund. Thirty-three percent of
any revenue deposited in the tobacco prevention and reduction trust fund in excess of five million
dollars shall be transferred to the education enhancement
trust
tobacco tax
fund. Thirty-four
percent of any revenue deposited in the tobacco prevention and reduction trust fund in excess of
five million dollars shall be transferred to the health care
trust
tobacco tax
fund.