SB1005 SFAT Prezioso 5-17

Baker 7816


Senators Prezioso and Unger 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; and to amend said code by adding thereto a new section, designated 11-17-4b, 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, tobacco products and e-cigarette liquids 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; levying the excise tax on e-cigarette liquid; defining terms; providing for administration of the tax on e-cigarette liquid; specifying penalty for failure to file required reports; specifying criminal sanctions; and specifying effective date.