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OK SB558
Bill
AI Summary
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Allows a $0.016 per gallon tax credit against motor fuel excise tax for ethanol sold by retail dealers, applied to the ethyl alcohol content in ethanol blends containing no more than 15% ethyl alcohol by volume.
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Requires retail dealers claiming the credit to reduce retail prices by $0.016 per gallon for ethanol fuel and document that cost savings were passed to purchasers.
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Establishes that refund claims for the credit follow the same process as other motor fuel tax refunds administered by the Oklahoma Tax Commission.
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Credits expire on July 1, 2022, unless reauthorized by the Oklahoma Legislature.
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Becomes effective November 1, 2017.
Legislative Description
Motor fuel tax; limiting time period during which certain credit may be claimed. Effective date.
Last Action
Recommendation to the full committee; Do Pass Appropriations and Budget Finance Subcommittee
3/30/2017