HB 866 Summary

• Allows bond limits for gasoline, special fuel, lubricating oil, and compressed gas distributors to be exceeded when distributors are more than one month delinquent (bonds can exceed $250,000 cap to equal 90-day tax estimates) or more than three months delinquent (bonds can exceed cap to equal 180-day tax estimates).

• Removes all references to "Class A" and "Class B" lubricating oil distributor classifications and consolidates them into a single distributor category.

• Requires all tax reports and payments for gasoline, special fuel, lubricating oil, and compressed gas distributors to be filed electronically by the twentieth of the following month, replacing previous paper filing requirements.

• Changes references from "commission" to "department" (Department of Revenue) throughout the relevant petroleum tax statutes.

• Takes effect July 1, 2020.