Fiscal Note

HB0219 - Tobacco Tax Increase

State Impact:
Enactment of this bill will increase revenues to the General Fund by $40,100,000 in FY 2010 and $41,700,000 in FY 2011.

Funding SourceFY 2009
Approp.
FY 2010
Approp.
FY 2011
Approp.
FY 2009
Revenue
FY 2010
Revenue
FY 2011
Revenue
General Fund$0$0$0$0$40,100,000$41,700,000
   Total
$0

$0

$0

$0

$40,100,000

$41,700,000

Individual, Business and/or Local Impact:
Local government sales tax revenue will increase by a total of $40,000. Businesses dealing in tobacco products will experience a decrease in revenue of $9,000,000. Individuals will see the average price per pack increase by $1.00.

1/21/2009, 1:48:18 PM, Lead Analyst: Young, T.Office of the Legislative Fiscal Analyst