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IN HB1019
Bill
Status
1/9/2018
Primary Sponsor
Patrick Bauer
Click for details
AI Summary
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Establishes monthly determination of Indiana's gasoline tax rate per gallon, effective July 1, 2018, using the statewide average retail price published for gasoline use tax purposes.
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Reduces the gasoline tax rate by $0.01 for each $0.01 that the statewide average retail price per gallon exceeds $3, with no reduction below zero cents per gallon.
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If statewide average retail price is $3 or less per gallon, the standard tax rate specified in subsection (b) applies for the following month.
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Department shall publish the monthly tax rate as part of the notice for gasoline use tax rates under IC 6-2.5-3.5-15, with rates effective for the following month.
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Amendment applies first to the gasoline tax rate for July 2018, with the monthly determination provision set to expire June 30, 2019.
Legislative Description
Gasoline tax. Provides for a monthly determination of the gasoline tax rate per gallon that will be used in the following month. Provides that the gasoline tax rate is to be reduced if the statewide average retail price per gallon is greater than $3 using the same price that is used to convert the 7% tax on gasoline to a per gallon rate under the gasoline use tax. Specifies that the gasoline tax rate is to be reduced by $0.01 for each $0.01 the statewide average retail price per gallon exceeds $3.
Last Action
First reading: referred to Committee on Ways and Means
1/9/2018