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2004 SPECIAL SESSION I

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041847392
HOUSE BILL NO. 5014 Offered April 5, 2004 A BILL to amend and reenact § 58.1-1001 of the Code of Virginia, relating to state cigarette tax; Center for Advanced Learning and Research in Danville Fund. ---------- Patron-- Marshall, D.W. ---------- Referred to Committee on Finance ----------

Be it enacted by the General Assembly of Virginia:

1. That § 58.1-1001 of the Code of Virginia is amended and reenacted as follows:

§ 58.1-1001. Tax levied; rate; Center for Advanced Learning and Research in Danville Fund.

A. In addition to all other taxes now imposed by law, every person within this Commonwealth who sells, stores or receives cigarettes made of tobacco or any substitute thereof, for the purpose of distribution to any person within this Commonwealth, shall pay to this Commonwealth an excise tax of one and one-quarter mills on each such cigarette 25 cents per pack of cigarettes.

B. The annual revenue generated from the tax levied on each pack of cigarettes shall be allocated as follows:

1. One and one-half cents shall be allocated to the Center for Advanced Learning and Research in Danville Fund, established in subsection C;

2. Two and one-half cents shall be allocated to the general fund; and

3. Twenty-one cents shall be allocated and used to fund Medicaid.

C. There is hereby created in the Department of the Treasury a special fund that shall be known as the Center for Advanced Learning and Research in Danville Fund (the "Fund"). The Fund shall be composed of those revenues generated by one and one-half cents of the 25 cents levied on each pack of cigarettes and shall be administered and managed by the Department of the Treasury.