HB1585 - Tennessee: Cigarettes And Cigars, Tobacco Master Settlement Agreement, Tobacco, Tobacco Products

Companion Bill SB1767. Tobacco, Tobacco Products - Imposes equity assessment on nonparticipating manufacturers; earmarks revenue for statewide health programs. - Amends TCA Title 56; Title 57 and Title 67, Chapter 4, Part 10. Fiscal Summary for HB1585 / *SB1767Increase State Revenues - $24,643,000 / Earmarked for Healthcare programs $501,000 / General Fund $1,123,000 / Education Fund $6,000 / Department of Revenue $16,000 / Sinking Fund Increase State Expenditures - $78,000 Recurring $120,000 One-Time Increase Local Govt. Revenues - $621,000 Bill Summary for HB1585 / *SB1767 Present law imposes a tax on selling cigarettes and tobacco products. This bill requires a tobacco product manufacturer who is not participating in the master tobacco settlement agreement [...]

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