Provides phased-in increases in cigarette tax rate over four-year period.

This bill gradually increases New Jersey's cigarette tax rate over four years, starting July 1, 2024. The tax will rise from $0.135 per cigarette ($2.70 per pack) to $0.20 per cigarette ($4.00 per pack) by 2027. Retailers and distributors must file annual tax returns showing cigarette inventory and pay the increased tax by specific dates each year. The additional revenue generated will go to the state General Fund, while existing dedications for smoking cessation programs and hospital subsidies remain unchanged.