MS HB1720

Reduces gasoline excise tax from 18 cents per gallon to 15 cents per gallon until the date specified in Section 65-39-35, then to 12 cents per gallon thereafter.

Adds a variable gasoline excise tax equal to 6% of the average wholesale price of gasoline, recalculated twice yearly on January 1 and July 1, beginning January 1, 2018.

Reduces undyed diesel fuel excise tax from 18 cents per gallon to 15 cents per gallon until the date specified in Section 65-39-35, then to 12.3 cents per gallon thereafter.

Adds a variable diesel fuel excise tax equal to 6% of the average wholesale price of diesel fuel, recalculated twice yearly, beginning January 1, 2018.

Brings forward existing gasoline and special fuel tax exemption and refund provisions, and fuel tax distribution provisions, for potential amendment.