A bill for an act relating to state and local taxation and regulations by changing certain tax credits, cigarette and tobacco-related regulations, and certain city budget certification deadlines, providing for penalties, and including retroactive applicability and effective date provisions.(Formerly HSB 90.)

The bill makes changes to state and local taxes, including adjustments to certain tax credits and regulations related to cigarettes and tobacco. It also alters deadlines for city budget certifications and introduces penalties for non-compliance. Additionally, the bill includes provisions that apply retroactively and establishes an effective date for these changes.

Supporters of the bill argue that it streamlines tax regulations and updates outdated tax credits, which could benefit both local governments and businesses. They believe that the changes to cigarette and tobacco regulations will promote public health while ensuring that cities have the flexibility they need in budgeting.

Critics contend that the bill could complicate tax processes and impose unnecessary penalties on local governments. They are concerned that the alterations to cigarette and tobacco regulations may not effectively address public health issues and could disproportionately impact lower-income communities.