HB 694 -- TAXATION of MOTOR FUEL SPONSOR: Francis

HB 694 -- TAXATION of MOTOR FUEL SPONSOR: Francis

HB 694 -- TAXATION OF MOTOR FUEL SPONSOR: Francis Beginning January 1, 2022, this bill increases the tax on motor fuel by $0.02 per gallon. Additional increases of $0.02 per gallon will take effect each following January 1st until the tax on motor fuel is $0.27 per gallon on January 1, 2026. Beginning upon the effective date of this bill, biodiesel blended with motor fuel with at least 6% but less than 10% biodiesel content in the motor fuel will be taxed at $0.17 per gallon. Beginning on January 1, 2024, this bill increases the tax on biodiesel blended with motor fuel with at least 6% but less than 10% biodiesel content in the motor fuel to $0.20 per gallon. Additional increases of $0.02 per gallon will take effect each following January 1st until the tax on biodiesel blended with motor fuel with at least 6% but less than 10% biodiesel content in the motor fuel is $0.24 per gallon on January 1, 2026. Beginning upon the effective date of this bill, biodiesel blended with motor fuel with at least 10% biodiesel content in the motor fuel will be taxed at $0.17 per gallon. Beginning on January 1, 2025, this bill increases the tax on biodiesel blended with motor fuel with at least 10% biodiesel content in the motor fuel to $0.19 per gallon. An additional increase of $0.02 per gallon will take effect on the following January 1st and the tax on biodiesel blended with motor fuel with at least 10% biodiesel content in the motor fuel will be $0.21 per gallon on January 1, 2026. These provisions will not become effective unless approved by a majority of the qualified voters of this state..

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