An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

Excise tax

A tax placed on specific goods or services, like tobacco, alcohol, or gasoline, often paid by the manufacturer or seller rather than directly by the consumer.

Tax parity

The concept of taxing similar products at the same or comparable rates, aiming for fairness and to prevent consumers from switching to a less-taxed alternative for financial reasons.

Internal Revenue Code of 1986

The official body of tax laws in the United States, which is regularly updated by Congress. This bill amends specific sections of this code.

Discrete single-use units

Tobacco or nicotine products that are not meant to be smoked and come in individual, ready-to-use forms like lozenges, tablets, pills, pouches, or dissolvable strips.

Taxable nicotine

Nicotine that has been extracted, concentrated, or created artificially, which is intended for use in products like e-cigarettes or other vaping devices, but not nicotine in FDA-approved medicines.