NOTE:  As provided in LFC policy, this report is intended only 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 for other purposes.

 

The most recent FIR version (in HTML & Adobe PDF formats) is available on the Legislative Website.  The Adobe PDF version includes all attachments, whereas the HTML version does not.  Previously issued FIRs and attachments may be obtained from the LFC in Suite 101 of the State Capitol Building North.

 

 

F I S C A L   I M P A C T   R E P O R T

 

 

 

SPONSOR:

Thompson

 

DATE TYPED:

3/3/03

 

HB

894

 

SHORT TITLE:

Amend Petroleum Products Fair Trade Act

 

SB

 

 

 

ANALYST:

Reynolds-Forte

 

APPROPRIATION

 

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY03

FY04

FY03

FY04

 

 

 

NFI

 

NFI

 

 

 

 

 

 

 

 

(Parenthesis ( ) Indicate Expenditure Decreases)

 

SUMMARY

 

     Synopsis of Bill

 

HB894 adds a new section to the Petroleum Products Fair Trade Practices Act to require that gasoline be delivered to a purchaser by the seller upon retail sale if the purchaser has:

 

1.       prepaid the seller with cash for all or part of the delivery;

2.       obtained authorization from a credit card or debit card company to pay the seller for all or part of the delivery;

3.      placed cash, a credit card or a debit card with the seller to assure payment for all or part of the delivery; or

4.      received the seller’s agreement that all or part of the delivery will be sold on credit or that payment for the gasoline will be made by some method other than cash, a credit card or a debit card.

 

HB894 has a July 1, 2003 effective date.

 

PRF/yr