SPONSOR: Mayhew
Currently, a tax of 29.5 cents per gallon is levied and imposed on motor fuel. A taxpayer may apply for an exemption for motor fuel for vehicles weighing 26,000 pounds or less.
This bill establishes a special trust fund, the "Motor Fuel Tax Fund of 2021". The bill deposits 12.5 cents per gallon of this tax into the Fund. The motor fuel tax exemption will be paid out of the Fund, and any moneys in the Fund not claimed and refunded to taxpayers under the exemption will remain in the Fund and be subject to appropriation by the General Assembly for road and bridge projects for State-owned infrastructure.
Statutes affected: