Modifies provisions relating to the taxation of cigarettes and tobacco products

HB 718 prevents local governments (counties, cities, towns) from raising cigarette and tobacco taxes above the level set on September 30, 1993, without specific voter approval. It prohibits any local tax increase without a majority vote of qualified voters in that jurisdiction. The bill centralizes authority over tobacco taxation at the state level, making all local tax ordinances or regulations void if they exceed the 1993 baseline. This directly affects local governments and businesses operating in areas where local tobacco taxes previously existed. The law does not eliminate local taxes but restricts future increases to only those approved by voters.