NOTE: As provided in LFC policy, this report is intended for use by the standing finance committees of the legislature.  The Legislative Finance Committee does not assume responsibility for the accuracy of the information in this report when used in any other situation.

Only the most recent FIR version, excluding attachments, is available on the Intranet. Previously issued FIRs and attachments may be obtained from the LFC office in Suite 101 of the State Capitol Building North.

(Parenthesis ( ) Indicate Revenue Decreases)

SOURCES OF INFORMATION

Legislative Finance Committee (LFC) files

SUMMARY

Synopsis of Bill

The bill amends the special fuels supplier tax act to simplify the reporting and taxation of dyed fuel. The bill provides that a bulk storage user may claim a refund of or credit against tax liability for the tax paid on special fuel when that fuel is used for certain purposes. Certain permit holders are provided a refund of permit fees for the unexpired portion of that permit. The bill provides a definition for dyed fuel. The effective date of the bill is July 1, 2000.

FISCAL IMPLICATIONS

Analyses from both Taxation and Revenue Department and State Highway and Transportation Department are in progress, but are not final yet. Upon receipt of these analyses, LFC will prepare an updated analysis.

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