Text: HF02025 Text: HF02027 Text: HF02000 - HF02099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 452A.3, Code 2003, is amended by adding
1 2 the following new subsection:
1 3 NEW SUBSECTION. 1B. An excise tax shall not be imposed on
1 4 ethanol blended gasoline that contains at least eighty-five
1 5 percent ethanol, according to standards established by rules
1 6 adopted by the department of agriculture and land stewardship
1 7 pursuant to chapter 214A.
1 8 EXPLANATION
1 9 This bill amends provisions in Code section 452A.3 that
1 10 impose an excise tax on each gallon of motor fuel sold in the
1 11 state. The general rate is 20 cents per gallon, but there are
1 12 a number of exceptions, including an exception for ethanol
1 13 blended gasoline. Ethanol blended gasoline is motor fuel
1 14 containing at least 10 percent alcohol. Until June 30, 2007,
1 15 the rates for gasoline which is blended with ethanol and motor
1 16 fuel which is unblended are adjusted each year based on the
1 17 number of gallons of ethanol blended gasoline that are
1 18 distributed in this state as expressed as a percentage of the
1 19 total number of gallons of motor fuel distributed in this
1 20 state.
1 21 The bill provides another exception for ethanol blended
1 22 gasoline which does not expire on a date certain. The bill
1 23 exempts the imposition of the tax for so-called "E-85
1 24 gasoline" (motor fuel that is blended with at least 85 percent
1 25 ethanol). Under Code section 214A.2, the department of
1 26 agriculture and land stewardship is authorized to adopt rules
1 27 regulating the specifications of motor fuel or oxygenate
1 28 octane enhancers.
1 29 LSB 5184YH 80
1 30 da/sh/8
Text: HF02025 Text: HF02027 Text: HF02000 - HF02099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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