MO HB738

Replaces the flat 17 cents per gallon motor fuel tax (in effect through December 31, 2015) with a variable rate of 10.5946% of the statewide average wholesale price beginning January 1, 2016, calculated separately for gasoline and diesel fuel

Establishes two six-month base periods for calculating wholesale prices: June 1-November 30 (for January-June tax rates) and December 1-May 31 (for July-December tax rates)

Creates a floor on the tax rate by prohibiting the calculated wholesale price from falling below the January 1, 2015 statewide average wholesale price for either gasoline or diesel fuel

Adds "wholesale price" to statutory definitions as "the price at the terminal's rack"

Revenue increases resulting from the new variable rate calculation are subject to constitutional provisions under Section 18(e), Article X of the Missouri Constitution