-Repeals the scheduled decrease in the gasoline tax from $0.205 to $0.155 per gallon on August 1, 2013 (Article 14C).
-Establishes a minimum of $2.34 per gallon for the average wholesale price of gasoline, of which the 5 percent variable component tax is based upon, beginning January 1, 2010 (Article 14C).
-Prohibits the average wholesale price of gasoline from varying by more than 10 percent over the previous year beginning January 1, 2011 (Article 14C).
-Requires the Motor Fuel Excise Tax Shortfall Reserve Fund be repealed on December 1, 2009, whereas existing law required the Fund be repealed on August 1, 2013, and redirects the revenue from the Fund to the State Road Fund for the purposes of reconstruction, renovation, maintenance and repair of secondary roads, whereas existing law required the revenue be redirected to the General Fund (Article 14C).
-This bill was introduced by request of the Governor.