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HB23-1290

Proposition EE Funding Retention Rate Reduction

Concerning the referral of a ballot issue related to the underestimation of revenue from the taxes on products that contain nicotine in a required notice to voters, and, in connection therewith, referring a ballot issue to the voters to allow the state to retain and spend state revenues that would otherwise need to be refunded for exceeding the estimate in the ballot information booklet analysis for proposition EE and to allow the state to maintain the tax rates on cigarettes, tobacco products, and nicotine products established in proposition EE that would otherwise need to be decreased.
Session:
2023 Regular Session
Subject:
Fiscal Policy & Taxes
Bill Summary

The act refers a ballot issue to the voters at the November 7, 2023, statewide election to allow the state to retain and spend state revenues that would otherwise need to be refunded for exceeding the estimate in the ballot information booklet analysis for proposition EE and to allow the state to maintain the tax rates established in proposition EE that would otherwise need to be decreased. If voters reject the ballot issue, the state will both:

  • Refund $23.65 million to distributors and wholesalers in a reasonable manner determined by the department of revenue; and
  • Reduce by 11.53% the tax rates of the taxes on cigarettes, tobacco products, and nicotine products created or increased by proposition EE.

If voters approve the ballot measure:

  • The money set aside for the potential refund related to proposition EE will instead be transferred to the preschool programs cash fund and the general fund; and
  • The new tax on nicotine products and the increased taxes on cigarettes and tobacco products in proposition EE will stay at the rates required by proposition EE.

The refund or alternative spending is made or backfilled from revenue in the newly created proposition EE cash fund, which consists of $23.65 million from the preschool programs cash fund and the general fund.

APPROVED by Governor June 2, 2023

EFFECTIVE June 2, 2023
(Note: This summary applies to this bill as enacted.)

Status

Introduced
Passed
Became Law

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Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    06/02/2023 Signed Act PDF
    05/23/2023 Final Act PDF
    05/05/2023 Rerevised PDF
    05/04/2023 Revised PDF
    04/24/2023 Reengrossed PDF
    04/21/2023 Engrossed PDF
    04/10/2023 Introduced PDF

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