Vetoed by Governor Bill Richardson

Vote Smart's Synopsis:

Vote to pass a bill that increases the sales tax on cigarettes by $0.75 per package beginning July 1, 2010.

Highlights:

-Increases the sales tax on individual cigarettes as follows (Sec. 3):

-For cigarettes packaged in lots of 20 or 25, the rate is increased from $0.045 to $0.083 per cigarette; -For cigarettes packaged in lots of 10, the rate is increased from $0.091 to $0.166 per cigarette; and -For cigarettes packaged in lots of 5, the rate is increased from $0.182 to $0.332 per cigarette.

-For the Public School Fund, the rate is increased from 0 to 12.22 percent; -For the General Fund, the rate is increased from 55.38 to 60.19 percent; -For the County and Municipal Recreational Fund, the rate is reduced from 1.35 to 0.83 percent; -For the County and Municipal Cigarette Tax Fund, the rate is reduced from 2.69 to 1.66 percent; -For the Cancer and Treatment Center at the University of New Mexico, the rate is reduced from 1.35 to 0.83 percent; -For the New Mexico Finance Authority, the rate is reduced from 2.02 to 1.25 percent; -For the University of New Mexico Health Science Center, the rate is reduced from 14.37 percent to 8.89 percent; -For land acquisition and the planning, designing, construction, and equipping of Department of Health Facilities or improvement to such facilities, the rate is reduced from 6.05 percent to 3.74 percent; -For the Credit Enhancement Account within the New Mexico Finance Authority, the rate is reduced from 15.79 to 9.77 percent; and -For the Rural County Cancer Treatment Fund, the rate is reduced from 1 to 0.62 percent.

Full Bill Text