HB 552 Summary

• Suspends the requirement for owners and operators of natural gas-powered motor vehicles to obtain an annual decal from the Liquefied Petroleum Gas Board from the bill's effective date until October 1, 2016.

• Suspends motor fuel excise tax collection on compressed and liquefied natural gas used as vehicle fuel during the same suspension period.

• If no comprehensive regulatory and tax framework for natural gas vehicle fuels is established by October 1, 2016, compressed natural gas will be taxed at the rate of 5.66 pounds per gallon of gasoline equivalent, and liquefied natural gas at 6.06 pounds per gallon of diesel equivalent.

• Allows compressed and liquefied natural gas to be sold in gallon equivalents during the suspension period and continuing thereafter if no comprehensive approach is adopted.

• Becomes effective immediately upon passage and approval by the Governor.