AL HB114

Extends the filing period for new or replacement surety bonds from 30 days to 60 days for sellers and fleet producers of compressed or liquefied natural gas (CNG/LNG), as well as for suppliers, importers, exporters, distributors, blenders, and terminal operators of motor fuels

Extends the payment period from 30 days to 60 days for assessments (including interest and penalties) made against entities that unlawfully import, transport, deliver, store, or sell motor fuels in Alabama

Applies to bond requirements when the Alabama Department of Revenue determines an existing bond is unsatisfactory, a surety intends to cancel a bond, or the existing bond is insufficient to cover tax liabilities

Maintains minimum bond amounts: $25,000 for CNG/LNG public sellers and fleet producers; $2,000 minimum for exporters, blenders, importers, and distributors; up to $2,000,000 cap for suppliers, permissive suppliers, and terminal operators

Takes effect immediately upon passage