S0656B0859A03116 DMS:AAS 12/08/23 #90 A03116
AMENDMENTS TO SENATE BILL NO. 656
Sponsor: REPRESENTATIVE R. MACKENZIE
Printer's No. 859
Amend Bill, page 7, line 13, by striking out "DEFINITION OF"
and inserting
definitions of "average wholesale price" and
Amend Bill, page 7, line 14, by striking out "IS" and
inserting
are
Amend Bill, page 7, by inserting between lines 19 and 20
"Average wholesale price." [The average wholesale price of
all taxable liquid fuels and fuels, excluding the Federal excise
tax and all liquid fuels taxes, shall be as follows:
(1) After December 31, 2013, and before January 1, 2015,
the average wholesale price shall be $1.87 per gallon.
(2) After December 31, 2014, and before January 1, 2017,
the average wholesale price shall be $2.49 per gallon.
(3) After December 31, 2016, the average wholesale price
shall be as determined by the Department of Revenue for the
12-month period ending on the September 30 immediately prior
to January 1 of the year for which the rate is to be set. In
no case shall the average wholesale price be less than $2.99
per gallon.] An amount to be calculated by the Department of
Revenue as follows:
(1) Determine the average wholesale price per gallon of
all taxable liquid fuels and fuels, excluding the Federal
excise tax and all liquid fuels taxes for the 12-month period
ending on the September 30 immediately prior to January 1 of
the year for which the rate is to be set or $2.99 per gallon,
whichever is higher.
(2) Reduce the amount in paragraph (1) to a price per
gallon necessary to offset the collection of the electric
vehicle road user charges remitted to the Department of
Transportation under section 9024 (relating to electric
vehicle road user charge) as follows:
(i) Estimate the total oil company franchise tax
amount to be collected for the 12-month period in which
the rate is to be set according to the price per gallon
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under paragraph (1).
(ii) Determine the total amount of electric vehicle
road user charges collected by the Department of
Transportation under section 9024 for the previous 12-
month period.
(iii) Subtract subparagraph (ii) from subparagraph
(i).
(3) After applying paragraphs (1) and (2), the price per
gallon shall, according to the Department of Revenue's
estimate, cause the total oil company franchise tax
collection amount for the 12-month period in which the rate
is to be set to be equal to the sum under paragraph (2)(iii).
* * *
Amend Bill, page 11, line 12, by striking out "2024" and
inserting
2025
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