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AR SB876
Bill
Status
5/17/2013
Primary Sponsor
Bill Sample
Click for details
AI Summary
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Repeals sales and use tax exemption for Class Six and Class Seven trucks and semitrailers that are registered with the International Registration Plan for interstate commerce.
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Increases excise tax on distillate special fuel from 8.5 cents to 9.5 cents per gallon, effective the first day of the calendar quarter following enactment.
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Eliminates the $4,000,000 annual general revenue offset that was created to compensate for lost tax revenues from the truck and semitrailer exemption.
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Removes references to the truck and semitrailer tax exemptions from the Property Tax Relief Trust Fund and Educational Adequacy Fund revenue sources.
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All provisions effective on the first day of the calendar quarter following the bill's enactment date.
Legislative Description
To Repeal The Sales And Use Tax Exemption For Class Six And Class Seven Trucks And Semitrailers And To Repeal The Provisions Enacted To Offset The General Revenues Lost As A Result Of The Exemption.
Last Action
Sine Die adjournment
5/17/2013