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IN HB1227
Bill
Status
1/13/2015
Primary Sponsor
Timothy Wesco
Click for details
AI Summary
HB 1227 Summary
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Increases sales tax deposits to the motor vehicle highway account from 1% to 2% of collections, effective July 1, 2015
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Decreases sales tax deposits to the state general fund by 1% percentage point, from 98.848% to 97.848% of collections
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Establishes automatic inflation indexing for gasoline tax, maintaining a base rate of $0.18 per gallon or the indexed rate (whichever is greater) beginning January 1, 2018
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Establishes automatic inflation indexing for special fuel tax, maintaining a base rate of $0.16 per gallon or the indexed rate (whichever is greater) beginning January 1, 2018
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Requires the department to publish updated fuel tax rates annually by November 1, beginning in 2017, based on the Consumer Price Index percent change from the previous calendar year
Legislative Description
Highway funding and motor fuel taxation. Increases the amount of sales tax collections to be deposited in the motor vehicle highway account from 1% to 2%. Decreases the amount deposited in the state general fund by 1%. Indexes the gasoline and special fuel tax rates for inflation beginning in 2018.
Last Action
Authored by Representative Wesco
1/13/2015