A bill to provide a tax revenue source for State and local entities by the reduction and elimination over a 4-year period of the taxes imposed under the Internal Revenue Code of 1954 on cigars, cigarettes, cigarette papers and tubes.

[AI summary unavailable — showing source text] Eliminates, by June 30, 1977, the taxes imposed under the Internal Revenue Code on cigars, cigarettes, cigarette papers, and tubes. Reduces the tax on such products over a four year period ending June 30, 1977.…