CA SB433

Transfers responsibility for adjusting motor vehicle fuel excise tax rates from the State Board of Equalization to the Department of Finance for fiscal years 2016-17 through 2020-21.

Changes the deadline for fuel tax rate adjustments from March 1 to May 15 of the fiscal year preceding the applicable fiscal year for the 2016-17 through 2020-21 period.

Maintains revenue neutrality requirement by ensuring adjustments account for actual net revenue gains or losses from the prior fiscal year.

Requires the Department of Finance to notify the State Board of Equalization of rate adjustments by May 15 each year through 2020.

Applies the same changes to diesel fuel excise tax rate adjustments, transferring authority to the Department of Finance and shifting the adjustment deadline to May 15 for fiscal years 2016-17 through 2020-21.