CONCEPT DRAFT

SUMMARY

This bill is a concept draft pursuant to Joint Rule 208.

This bill proposes the following:

1. To increase the tax on alcohol sold by the glass from 7% to 10%;

2. To increase the excise and premium taxes by 30¢ on wine;

3. To increase the excise and premium taxes by 30¢ on beer;

4. To increase the cigarette tax by 50¢;

5. To increase the tobacco products tax, exclusive of the cigarette tax, from 16% to 62% on smoking tobacco and from 62% to 75% on smokeless tobacco;

6. To increase the meals and lodging tax from 7% to 10% for the months of May, June, July, August, September and October only;

7. To establish a soft drink tax of $4 per gallon of soft drink syrup and 42¢ per gallon of bottled soft drinks; and

8. To increase the income level at which the highest marginal income tax rate is imposed.