2019 -- H 5394 | |
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LC001364 | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2019 | |
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A N A C T | |
RELATING TO TAXATION - CIGARETTE AND OTHER TOBACCO PRODUCTS TAX | |
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Introduced By: Representatives Azzinaro, Shekarchi, Corvese, Edwards, and Kennedy | |
Date Introduced: February 14, 2019 | |
Referred To: House Finance | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. Section 44-20-21 of the General Laws in Chapter 44-20 entitled "Cigarette |
2 | and Other Tobacco Products Tax" is hereby amended to read as follows: |
3 | 44-20-21. Transfer of stamps prohibited -- Redemption of unused stamps. |
4 | No person shall sell or transfer any stamps under the provisions of this chapter. The tax |
5 | administrator shall redeem any unused, uncancelled stamps presented in unbroken sheets or |
6 | packages, under rules and regulations of the tax administrator, by any licensed distributor within |
7 | six (6) months of the date of purchase, at a price equal to ninety-eight percent (98%) of their face |
8 | value. |
9 | SECTION 2. This act shall take effect upon passage. |
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LC001364 | |
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EXPLANATION | |
BY THE LEGISLATIVE COUNCIL | |
OF | |
A N A C T | |
RELATING TO TAXATION - CIGARETTE AND OTHER TOBACCO PRODUCTS TAX | |
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1 | This act would permit cigarette distributors to have partial rolls or sheets of unused tax |
2 | stamps redeemed by the tax administrator for ninety-eight percent (98%) of their face value. |
3 | This act would take effect upon passage. |
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