SB 140
Authorizes a tax credit for the sale of ethanol fuel
Sponsor:
LR Number:
0847S.01I
Last Action:
3/8/2021 - SCS Voted Do Pass S Agriculture, Food Production and Outdoor Resources Committee (0847S.02C)
Journal Page:
Title:
Calendar Position:
Effective Date:
August 28, 2021

Current Bill Summary

SCS/SB 140 - For all tax years beginning on or after January 1, 2022, this act authorizes a tax credit for retail dealers selling higher ethanol blend at the retail dealer's service station, as such terms are defined in the act. The credit shall be equal to five cents per gallon of higher ethanol blend sold and dispensed through metered pumps at the service station during the tax year. The tax credit shall be nontransferable and nonrefundable. The total amount of tax credits authorized under the act in a given fiscal year shall not exceed $4 million.

This act shall sunset on December 31, 2027, unless reauthorized by the General Assembly.

This act is substantially similar to HB 601 (2021).

JOSH NORBERG

Amendments

No Amendments Found.