SB 5829-S - DIGEST

(DIGEST OF PROPOSED 1ST SUBSTITUTE)

Authorizes an additional tax on cigarettes.

Declares that there is hereby levied, and there shall be collected as provided by chapter 82.24 RCW, an additional tax upon the sale, use, consumption, handling, possession, or distribution of cigarettes in an amount equal to the rate of: (1) Thirty mills per cigarette through June 30, 2007; and

(2) Forty mills per cigarette after June 30, 2007.

Requires the money collected under this act during any month to be deposited by the twenty-fifth day of the following month as follows: (1) 22.1 percent into the health services account created in RCW 43.72.900;

(2) 1.75 percent into the water quality account created in RCW 70.146.030;

(3) 2.3 percent into the violence reduction and drug enforcement account created in RCW 69.50.520;

(4) 5.1 percent to the general fund; and

(5) The remainder into the student achievement fund created in RCW 43.135.045. If, however, the amounts deposited in the student achievement fund under chapter 28A.505 RCW are sufficient to provide the total allocations per full-time equivalent student in chapter 28A.505 RCW, the remainder of the money collected under subsection (1)(a) of this section shall be transferred into the general fund.