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The bill died last week when negotiators couldn't agree on a compromise before a deadline.
The Senate and House voted Monday to suspend the deadline and allow more talks. Doing so took more than a two-thirds majority in each chamber.
Mississippi's current cigarette excise tax of 18 cents a pack is the third-lowest in the nation.
When talks broke off last week, the House had offered to set it at 80 cents a pack and the Senate had offered 60 cents.
Lawmakers say increasing the tax could generate more revenue to pay for state government.