November ballot could include vote on nicotine tax
DENVER (KDVR) — The Colorado House passed a bill to refer a measure increasing taxes on nicotine products to voters on November’s election ballot.
Nicotine products are defined as cigarettes, tobacco, vaping devices, electronic cigarettes and nicotine liquids in HB20-1427.
The bill claims the tax collected will be allocated to several different funds, including ones that will fund K-12 schools and boost early childhood education.
“As a pediatrician, I’ve seen first hand how youth nicotine use is devastating the health of our kids,” Representative Yadira Caraveo, D-Thornton, said.
“The people of our state should have the opportunity to take meaningful action to reduce our highest-in-the-nation youth vaping rates and invest in the future of our children. I’m grateful for the work of so many who came together to craft this proposal and send it to the people for approval.”
If passed, the ballot initiative would increase the per cigarette tax from one cent to eight cents by 2027 and 10 cents after that.
For the first time, a tax on nicotine products like e-cigarettes and vaping nicotine liquids would be implemented. That tax would start at 10 percent and increase to 22 percent by 2027.