CS FOR SENATE BILL NO. 86(FIN) - Summary

• Imposes a new refined fuel surcharge of $0.0095 per gallon on refined fuels sold, transferred, or used in Alaska, with exemptions for federal/state government use, fuel refined and used outside the U.S., liquefied petroleum gas, aviation fuel, and fuel sold between qualified dealers.

• Directs legislature to appropriate annual surcharge revenue balance to the oil and hazardous substance release prevention account, without creating a dedicated fund.

• Establishes "qualified dealer license" allowing dealers who sell at least 50% of acquired fuel for resale, heating, jet propulsion aircraft, or motor fuel purposes to operate with specific licensing requirements and bond provisions.

• Defines "refined fuel" as fuel produced from oil used in engines, machines, or devices that create heat, energy, or power.

• Requires dealers and users to collect and remit surcharge and motor fuel tax monthly, with collection allowance of 1% (maximum $100) for timely filing; allows refunds of surcharge and tax under specified conditions.

• Takes effect July 1, 2015.