The bill amends Section 31-36-7 of the General Laws in Chapter 31-36, titled "Motor Fuel Tax," to update the process for adjusting the gasoline tax for inflation. It introduces a new requirement for distributors to submit monthly reports detailing the amount of fuel purchased, sold, or used, along with the corresponding tax payment.

Beginning July 1, 2025, and every two years thereafter, the gasoline tax shall be adjusted based on the percentage increase in the Consumer Price Index for all Urban Consumers (CPI-U) over the previous two years, rather than annually as previously required. The adjustment will be calculated by comparing the CPI-U as of September 30 of the prior calendar year with the CPI-U from September 30, twenty-four months prior.

This change aims to ensure that the gasoline tax keeps pace with inflation more accurately. The act will take effect upon passage.

Statutes affected:
5468: 31-36-7