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IN HB1128
Bill
Status
Enrolled
2/21/2012
Primary Sponsor
Sheila Klinker
Click for details
AI Summary
- Repeals the E85 retail merchant deduction program that allowed gas station owners to deduct $0.18 per gallon of E85 fuel sold from their gross retail tax liability, along with the associated $500,000 annual retail merchant E85 deduction reimbursement fund
- Requires Indiana Corn Marketing Council members to have paid a corn assessment within the previous two years to qualify for election
- Expands the definition of "producer" to include those marketing corn under entities in which they have ownership, not just under their own name
- Changes the council's administrative expense cap from 10% of annual assessments to 10% of a five-year rolling average (excluding highest and lowest years), with refund processing and grant application costs excluded from the cap
- Establishes tiered refund timelines for producers seeking assessment refunds: 30 days for refunds over $25, and quarterly processing (March 31 or September 30) for refunds of $25 or less
Legislative Description
Corn marketing council.
Last Action
Signed by the Governor
3/16/2012
Full Bill Text
No bill text available