HB1072 - Tennessee - Food And Food Products, Taxes, Sales, Taxes, Tobacco, Tobacco Products

Taxes, Tobacco, Tobacco Products - Increases cigarette tax from 1 to 5 cents per cigarette and decreases sales tax on food from 6 percent to 4 percent. - Amends TCA Section 67-4-1004 and Section 67-6-228.

Increase State Revenues - Net Impact - $278,799,000 / Education Fund Decrease State Revenues - Net Impact - $44,881,000 / General Fund $7,482,000 / Earmarked to Local Governments $569,000 / Department of Revenue $1,420,000 / Sinking Fund Increase State Expenditures - $7,482,000 / General Fund $220,000 / Department of Revenue - Recurring $200,000 / Department of Revenue - One-Time Increase Local Govt. Revenues - Net Impact - $3,046,000 Recurring