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2004 SPECIAL SESSION I

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HB 5006 Cigarettes; tax increased.

Introduced by: Mitchell Van Yahres | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Cigarette tax. Increases the state cigarette tax rate from two and one-half cents per pack to 60 cents per pack. One-half of the additional revenue generated by the increase is to be used solely to fund the Virginia Medicaid Program. The remaining one-half of such revenues is to be distributed to all of the counties and cities of the Commonwealth based upon the number of school-aged children in each locality, adjusted by the locality's compsite index of ability to pay. The bill also prohibits the local cigarette tax rate in cities and towns, when added to the state tax rate to exceed the greater of (i) four cents per cigarette, or (ii) three cents per cigarette plus the amount of the tax that was in effect in the city or town on January 1, 2004.


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