Amends GS 105-113.35 to set the excise tax on vapor products at 12.8% of the cost price of the product (was, 5 cents per fluid milliliter of consumable product).
Amends GS 105-113.40A to amend the allocation of the tax on tobacco products to require that an amount equal to the (1) revenue that would have been generated in the 2014‑15 fiscal year by an excise tax levied on vapor products at the rate of 5 cents per fluid milliliter of consumable product, based on sales data for that time period, be credited to the General Fund and (2) revenue generated by the tax on vapor products under G.S. 105‑113.35 less the amount indicated in the previous section be credited to the Youth Tobacco Use Prevention Fund.
Enacts new GS 143C-9-5.10 establishing the Youth Tobacco Use Prevention Fund (Fund), with allocations from the Fund for youth tobacco use prevention programs and initiatives. Provides that effective July 1 of each calendar year, the funds remitted to the Fund by the Secretary of Revenue from the tax on vapor products are appropriated to the Department of Health and Human Services, Division of Public Health, for youth tobacco use prevention programs and initiatives. Sets out reporting requirements.
Effective July 1, 2015.
|View NCGA Bill Details||2015-2016 Session|
AN ACT APPROPRIATING FUNDS TO THE DEPARTMENT OF HEALTH AND HUMAN SERVICES, DIVISION OF PUBLIC HEALTH, FOR YOUTH TOBACCO USE PREVENTION AND INCREASING THE TAX ON VAPOR PRODUCTS IN ORDER TO FUND THIS APPROPRIATION.Intro. by Queen, Fisher.
Status: Ref To Com On Appropriations (House Action) (Apr 20 2015)
Bill H 939 (2015-2016)Summary date: Apr 20 2015 - More information