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AR HB2066
Bill
Status
5/1/2017
Primary Sponsor
Kim Hammer
Click for details
AI Summary
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Creates the Distillate Special Fuel Tax Refund Fund with $2,500,000 transferred quarterly from distillate special fuel tax collections, excluding amounts pledged to highway bond repayment.
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Entitles entities that produce distillate special fuel by converting natural gas to a refund of 6.5 cents per gallon of distillate special fuel tax paid on fuel sold in Arkansas.
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Limits total refunds to $10,000,000 per year and $50,000,000 overall, awarded on a first-come, first-serve basis.
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Requires entities to apply for refunds through the Department of Finance and Administration using prescribed forms.
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Directs any remaining funds in the refund account at year-end to be transferred to the General Revenue Allotment Reserve Fund.
Legislative Description
To Provide For A Partial Rebate Of Distillate Special Fuel Taxes In Certain Circumstances; And To Create The Distillate Special Fuel Tax Refund Fund.
Last Action
Died in House Committee at Sine Die Adjournment
5/1/2017