RD724 - Joint Subcommittee to Evaluate Tax Preferences Executive Summary of 2019 Interim Activity

Executive Summary:

Report on the options for the modernization of Code of Virginia § 58.1-1001(A) to reflect advances in science and technology in the area of tobacco harm reduction, and the role innovative non-combustible tobacco products can play in reducing harm, including products that produce vapor or aerosol from heating tobacco or liquid nicotine.  The report shall also include possible reforms to the taxation of tobacco products that will provide fairness and equity for all local governments and also ensure stable tax revenues for the Commonwealth.