New York City has lifted the minimum price of a pack of cigarettes by 24% to $13, while also capping the amount of tobacco sellers.

Mayor Bill de Blasio signed the laws on Monday effectively establishing a retail license fee for sellers of electronic cigarettes and nearly doubling the licensing fee for tobacco retailers to $200.

Bloomberg first reported the news. 

The city is also mandating that apartment buildings of three or more units must create specific smoking policies, while prohibiting smoking in all public areas.

Beginning in 2018, pharmacies will be barred from selling tobacco as their licenses expire.

More of What's Trending on TheStreet:

More from Investing

Asian Markets Decline in Morning Trading

Asian Markets Decline in Morning Trading

3 New Investing Myths That Must Be Busted

3 New Investing Myths That Must Be Busted

Why a Global Stock Market Crash Is Coming

Why a Global Stock Market Crash Is Coming

Dump All Your Disney Stock: Doug Kass Insider

Dump All Your Disney Stock: Doug Kass Insider

What the Charts Say About the Big Picture: Cramer's 'Off The Charts'

What the Charts Say About the Big Picture: Cramer's 'Off The Charts'