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HB854

Rate of tax on gasoline and diesel fuel. Lowers the rate of tax on gasoline and diesel fuel on July 1, 2024, from 26.2 cents per gallon to 21.2 cents per gallon on gasoline and from 27 cents per gallon to 20.2 cents per gallon on diesel fuel, which are the rates that were in effect before July 1, 2021. The bill provides that the rate of tax on gasoline and diesel fuel will return to 26.2 and 27 cents per gallon, respectively, on July 1, 2025, and will be indexed based on the change in the United States Average Consumer Price Index occurring between 2021 and 2024; thereafter, the rate will be indexed annually.

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