11RS HB267
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HB267

11RS

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HB 267/FN (BR 173) - F. Nesler

     AN ACT relating to tobacco products.
     Amend KRS 138.130 to define "financial instrument" and "wholesaler of other tobacco products and snuff"; delete references to "cigarette paper"; amend KRS 138.140 to clarify tax responsibilities of wholesalers and manufacturers of other tobacco products and snuff; require invoice itemization for other tobacco products and snuff transferred to retailers; amend KRS 138.146 to allow for the sale of tax evidence on a deferred payment basis; require a financial instrument for those purchasing tax evidence on a deferred payment basis; set parameters for the financial instrument; give Department of Revenue authority to make demand on a financial instrument; permit the Department of Revenue to allow tax evidence compensation for resident and nonresident wholesalers, and unclassified acquirers; delete outdated tax compensation language; denote requirements for proper itemization of other tobacco products and snuff delivered to retailers; amend KRS 138.165 to include other tobacco products and snuff in contraband seizure requirements; clarify sale steps for seized vending machines; amend KRS 138.175 to add other tobacco products and snuff to goods that may be deemed contraband; amend KRS 138.195 to set the unclassified acquirer annual license fee at $250; allow the department to obtain information and reports electronically; allow for the sale or purchase of untax-paid cigarettes from one licensee to another; create a new section of KRS 138.130 to 138.205 to set out circumstances under which a license shall be granted to a person; amend KRS 365.270 to add unclassified acquirer to "wholesaler" definition; set the presumptive cost of doing business at 3.25 percent; amend KRS 365.390 to include unclassified acquirers under the enforcement fee requirements; amend various sections of the Kentucky Revised Statutes to conform; make technical changes; EFFECTIVE August 1, 2011, and July 1, 2012.

     Feb 1-introduced in House
     Feb 2-to Appropriations & Revenue (H)
     Feb 11-posted in committee


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