HB516 Summary

• Suspends state excise taxes on gasoline and motor fuels from May 1, 2022, until September 1, 2022, under Section 40-17-370 of the Alabama Code.

• Current excise tax rates are $.28 per gallon on gasoline and $.29 per gallon on motor fuels, effective October 1, 2021.

• The Department of Revenue may lift the suspension and reinstate excise taxes early if the average Alabama monthly price of gasoline or motor fuels falls to or below the January 2022 average price, as reported by the United States Energy Information Administration.

• The Department of Revenue is authorized to adopt rules necessary to implement the suspension and reinstatement procedures.

• The act becomes effective immediately upon passage and approval by the Governor.