Attorney General No.

14-0005

Secretary of State No.

1654

Description

Increases cigarette tax by $1.00 per pack, with an equivalent increase on other tobacco products. Requires tax revenues to be deposited into a special fund to provide grants and loans to support brain research on causes, treatments, detection, and cures for brain disorders and diseases. Creates 11-member oversight committee charged with administering the fund. If new tax causes decreased tobacco consumption, transfers sufficient amount of new tax revenues to offset revenue decrease to other programs funded by existing tobacco taxes. Requires annual independent audit. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local government: Net increase in cigarette excise tax revenues in the range of $500 million to $750 million annually by 2015-16. Revenues would decrease slightly each year thereafter. The funds would be used to support research on brain and central nervous system diseases and disorders. Increase in excise tax revenues on other tobacco products of roughly $50 million annually going mainly to existing health programs. Change in state and local sales tax revenues ranging from a $30 million loss to a $40 million gain annually.

Proponents

Frank P. Barbaro

Date

1-16-2014

Document Type

Initiative

Qualified

Failed to Qualify

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