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1 New Paragraph; Tobacco Tax; Definition; Modified Risk Tobacco Product. Amend RSA 78:1 by inserting after paragraph VI the following new paragraph:
VI-a. "Modified risk tobacco product" means a modified risk tobacco product as defined and regulated under 21 U.S.C. section 378k.
2 New Paragraph; Tobacco Tax; Modified Risk Tobacco Product; Reduction of Tax Imposed. Amend RSA 78:2 by inserting after paragraph III the following new paragraph:
IV.(a) For a modified risk tobacco product commercially marketed pursuant to an order of the Secretary of the United States Department of Health and Human Services under 21 U.S.C. section 387k(g)(1), any tax imposed under paragraphs I or II shall be reduced by 50 percent.
(b) For a modified risk tobacco product for which an order is issued by the Secretary of the United States Department of Health and Human Services under 21 U.S.C. section 387k(g)(2) that the tobacco product may be introduced or delivered for introduction into interstate commerce, any tax imposed under paragraphs I or II shall be reduced by 25 percent.
3 Effective Date. This act shall take effect July 1, 2021.
Text to be added highlighted in green.
1 New Paragraph; Tobacco Tax; Definition; Modified Risk Tobacco Product. Amend RSA 78:1 by inserting after paragraph VI the following new paragraph:
VI-a. "Modified risk tobacco product" means a modified risk tobacco product as defined and regulated under 21 U.S.C. section 378k.
2 New Paragraph; Tobacco Tax; Modified Risk Tobacco Product; Reduction of Tax Imposed. Amend RSA 78:2 by inserting after paragraph III the following new paragraph:
IV.(a) For a modified risk tobacco product commercially marketed pursuant to an order of the Secretary of the United States Department of Health and Human Services under 21 U.S.C. section 387k(g)(1), any tax imposed under paragraphs I or II shall be reduced by 50 percent.
(b) For a modified risk tobacco product for which an order is issued by the Secretary of the United States Department of Health and Human Services under 21 U.S.C. section 387k(g)(2) that the tobacco product may be introduced or delivered for introduction into interstate commerce, any tax imposed under paragraphs I or II shall be reduced by 25 percent.
3 Effective Date. This act shall take effect July 1, 2021.