SB1005 HFAT Faircloth 5-24

Delegate Faircloth moved to amend the bill by striking out the title and substituting therefor a new title, to read as follows:

Eng. Senate Bill 1005 -- A Bill to amend and reenact §11-17-3 and §11-17-4 of the Code of West Virginia, 1931, as amended, all relating to increasing the tax rate on cigarettes and tobacco products; specifying where a portion of the tax revenue shall be dedicated; requiring a physical inventory of tax stamps and tobacco products upon the effective date of tax imposition and upon any tax rate increase; applying tax rate changes to inventories; requiring a report of such inventory be filed sixty days after the effective date of the tax imposition or tax rate change; and specifying effective date.