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S 1572

Enacts the "End Hedge Fund Control of New York Homes Act"

2025 Regular Session Introduced by Liz Krueger

Raises tobacco tax revenue allocated to the Dept of Health from 1% to 3% starting July 1, 2018 to fund evidence-based tobacco control, prioritizing Medicaid and youth.

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Bill Summary · S 1572

Summary — S 1572

Note: The submitted bill materials contain conflicting metadata (an initial title referencing an “End Hedge Fund Control of New York Homes Act” and materials from multiple jurisdictions). The operative legislative text and committee statement provided relate to an amendment to New Jersey law increasing the share of cigarette and other tobacco products tax revenue devoted to tobacco control. This summary focuses on that enacted text and its effects.

Purpose

To increase the portion of cigarette and tobacco-products tax revenue that is directed to the state Department of Health for evidence‑based tobacco control programs, with priority for efforts that reduce smoking among Medicaid enrollees and youth.

Key provisions

  • Amends Section 4 of P.L.1997, c.264 (C.26:2H‑18.58g) to change the allocation rule for cigarette and tobacco products tax revenue.
  • Beginning with fiscal years on and after July 1, 2018, increases the dedicated share from 1% to 3% of total annual revenues collected under:
    • the Cigarette Tax Act (P.L.1948, c.65; C.54:40A‑1 et seq.), and
    • the Tobacco Products Wholesale Sales and Use Tax Act (P.L.1990, c.39; C.54:40B‑1 et seq.).
  • Funds must be directed to the Department of Health to fund and implement evidence‑based tobacco control programs that align with the CDC’s Best Practices for Comprehensive Tobacco Control Programs and that pursue the goals of:
    • preventing youth initiation of tobacco use,
    • reducing exposure to secondhand smoke, and
    • promoting tobacco cessation.
  • Funding priority is to programs targeting reductions in smoking among the State’s Medicaid population and youth.
  • The act’s text states it “shall take effect immediately.”

Who is affected

  • Department of Health — will receive expanded dedicated funding authority to implement tobacco control programming.
  • Medicaid enrollees and youth — identified as priority populations for funded programs.
  • Funding sources — revenues from state cigarette taxes and wholesale taxes on other tobacco products (the increase reduces the portion of those revenues available for other appropriations).
  • Potential indirect effects on public health providers and community organizations implementing tobacco control initiatives.

Fiscal impact

  • The committee statement estimates that in FY2023 the dedicated revenue under current law (1%) was projected to be about $5 million; increasing to 3% would raise that to roughly $15 million (an approximate $10 million increase), subject to actual tobacco tax receipts in any fiscal year.

Procedural / timeline notes

  • The bill text indicates immediate effect on enactment and specifies the allocation applies to fiscal years beginning on/after July 1, 2018.
  • Legislative activity in the supplied record is inconsistent (multiple referral dates and committee actions listed). Reported favorable by the Senate Health, Human Services and Senior Citizens Committee (statement dated Feb. 3, 2025). Other entries show introduction and referral activity in 2024–2025 and several scheduled hearings.

Additional notes / conflicts in the record

  • The bill header/title supplied (“End Hedge Fund Control of New York Homes Act”) and some docket content (items relating to Massachusetts hospital governance) do not match the New Jersey tobacco‑allocation amendment text. The summary above reflects the substantive provisions contained in the primary legislative text and committee statement provided, which concern increasing allotted tobacco tax revenue for tobacco control from 1% to 3%.

Compiled from official sources — confirm details with the bill’s official record.

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