AR HB1703

Amends Arkansas alternative fuels tax law to expand the definition of alternative fuels to include compressed natural gas, liquefied natural gas, and other fuel types determined by the U.S. Secretary of Energy.

Establishes a tiered excise tax schedule on alternative fuels beginning July 1, 2015: 5¢ per gallon equivalent (2015), increasing to 8¢ (2016), 11¢ (2017), and 17¢ (2018), with differentiated rates of 21.5¢ for compressed natural gas and other fuels, and 22.5¢ for liquefied natural gas beginning July 1, 2019.

Updates gallon equivalency standards, defining 126.67 cubic feet of compressed natural gas and 6.06 pounds of liquefied natural gas as equivalent to one gallon of gasoline.

Requires the Director of Finance and Administration to file annual reports with the Director of State Highways and Transportation detailing alternative fuel vehicle registrations, tax revenue collected, and tax rates for the next twelve months.

Declares an emergency effective July 1, 2015, citing outdated alternative fuels tax laws that fail to address increased alternative fuel use and insufficient highway revenue.