HB6146 Summary

• Reduces sales tax rate on motor fuel and gasohol from 6.25% to 1.25% for the period July 1, 2012 through December 31, 2012.

• Applies the reduced 1.25% rate across multiple tax acts: Use Tax Act, Service Use Tax Act, Service Occupation Tax Act, and Retailers' Occupation Tax Act.

• Requires retailers to post notices on fuel dispensing devices within 14 days informing customers of the temporary elimination of state sales tax on motor fuel and gasohol through December 31, 2012.

• Imposes a $500 per day fine per retail location for retailers who fail to post or maintain the required notice signs through December 31, 2012.

• Takes effect immediately upon becoming law.