HI SB2721

Establishes a flight assistance tax of $1.05 per barrel (or fractional barrel) of aviation fuel sold by distributors to retail dealers or end users, effective January 1, 2023

Requires distributors to file monthly tax returns by the last day of each calendar month and maintain records of aviation fuel sales for five years

Creates a Flight Assistance Tax Special Fund with revenues allocated as follows: 50% for maintenance, operation, and repair of statewide airports; 30% for airport innovation projects; and 20% for aeronautical and aerospace development

Exempts the flight assistance tax from the general state highway fund deposit requirement and directs revenues instead to the new Flight Assistance Tax Special Fund

Distributors are liable for paying the tax, which must be reported to the Department of Taxation in the form and manner prescribed by the department