Cigarette Tar Tax Act

[AI summary unavailable — showing source text] Cigarette Tar Tax Act - Provides for taxing cigarettes under the Internal Revenue Code on the basis of their tar content, with those having the higher tar and nicotine content being taxed at a higher rate. Directs the Federal Trade Commission to test tar and nicotine levels of all brands at least once every quarter. Establishes in the Treasury of the United States a special fund to be known as the Tobacco Tax Fund. Provides that such fund shall be available only, as provided by appropriation Acts, to carry out programs hereafter established by law to provide adjustment assistance for growers of tobacco products, State and local governments, and other persons incurring serious economic hardship resulting from the elimination or substantial reduction of the use of cigarettes, cigars, and other tobacco products. Provides for the establishment of the Commission on Tobacco Adjustment Assistance. Provides that it shall be the function of the Commission to study: (1) the probable effect of this tax and the termination of price supports for tobacco will have in achieving the elimination or substantial reduction of the use of cigarettes, cigars, and other tobacco products; (2) the economic …