“The company, Altria, was part of the negotiations that led to 11th-hour legislation — House Bill 1427 — that placed the question on the 2020 ballot. If passed, it will raise taxes on nicotine products across the board over the next several years. Nicotine products, including vaping devices and fuel, would be taxed at 30% of their manufacturer’s list price starting next year if voters sign off on the ballot question. By July 2024, that would rise to 56% of the list price and to 62% in July 2027. House Bill 1427 easily won approval. But it passed under unusual circumstances: The measure was introduced in the final hours of the 2020 legislative session and so hastily brought that lawmakers didn’t have a copy of the measure before its first committee hearing began. The bill was introduced on the day before the legislature was set to adjourn ahead of schedule because of the pandemic. The bill was negotiated by lawmakers, Polis’ office, health advocates, Altria and other tobacco interests.”
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Colorado’s proposed tobacco tax hike — and it could help them dominate the cigarette market
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