Senate Bill No. 72–Senator Jacobsen

Prefiled February 1, 2001

____________

Referred to Committee on Taxation

SUMMARY—Revises definition of “basic cost of cigarettes” for purposes of regulation of sales of cigarettes by wholesale dealers. (BDR 32‑684)

FISCAL NOTE: Effect on Local Government: No.

Effect on the State: No.

~

EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.

Green numbers along left margin indicate location on the printed bill (e.g., 5-15 indicates page 5, line 15).

AN ACT relating to cigarettes; revising the definition of “basic cost of cigarettes” for the purposes of the regulation of sales of cigarettes by wholesale dealers; and providing other matters properly relating thereto.

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

1-1 Section 1. NRS 370.005 is hereby amended to read as follows:

1-2 370.005 “Basic cost of cigarettes” means the manufacturer’s invoice

1-3 cost of cigarettes by carton to the wholesale dealer in the quantity last

1-4 purchased, less all allowances in an amount not exceeding [2.5] 0.5 percent

1-5 of the invoice cost of cigarettes by carton, plus the full value of any

1-6 cigarette revenue stamps that are affixed to the packages, packets or

1-7 containers of cigarettes, if not included in the invoice cost of cigarettes by

1-8 carton.

1-9 Sec. 2. This act becomes effective upon passage and approval.

1-10 H