Adopted by House 6-25-08
HB218 HFIN AM 6-24
The Committee on Finance moves to amend the bill on page
three, section five, line nineteen, following the words "motor
fuel" and the colon, by striking out the remainder of the paragraph
and inserting in lieu thereof the following:
"Provided, however, That for calendar year two thousand nine,
the average wholesale price of motor fuel shall not exceed the
average wholesale price of motor fuel for calendar year two
thousand eight as determined pursuant to the notice filed by the
Tax Commissioner with the Secretary of State on the twenty-first
day of November, two thousand seven and published in the state
register on the thirtieth day of November, two thousand seven."
And,
On page six, section forty-eight, by striking out subsection
(a) in its entirety and inserting in lieu thereof a new subsection
(a) to read as follows:
"(a) There is hereby created in the State Treasury a special
fund to be known and designated as the "Motor Fuel Excise Tax
Shortfall Reserve Fund" to be administered by the Tax Commissioner
for the purposes provided by this section. The fund shall consist
of moneys transferred to the general revenue fund pursuant to
appropriation of the Legislature. At then end of each fiscal year,
during the fund's existence, the moneys in the fund shall not
expire to the general fund, but shall remain available for expenditure during the ensuing fiscal year. The fund shall
terminate on the first day of February, two thousand ten. Any
moneys remaining in the fund on that termination date shall be
transferred to the general revenue fund. No provision of this
section may be construed to require funding for the purposes of
this section in excess of amounts transferred to the fund pursuant
to appropriation of the Legislature.".