Alex Padilla voted Yea (Passage With Amendment) on this Legislation.
Title: Tax Law Amendments
Title: Tax Law Amendments
Vote to pass a bill that eliminates the sales and use tax on motor vehicle fuel, establishes an oil severance tax, and supplements additional sales, use, and income taxes.
- Exempts motor vehicle fuel from the sales and use taxes beginning April 1, 2009, excluding jet fuel, diesel fuel, kerosene, liquefied petroleum gas, natural gas (liquid or gaseous form), alcohol, or racing fuel (Sec. 3). - Administers an additional retail sales tax at a rate of 0.5 percent of the gross receipts of retailers from the sale of tangible personal property beginning February 1, 2009 (Sec. 1). - Administers an additional retail use tax at a rate of 0.5 percent of the sales price of tangible personal property beginning February 1, 2009 (Sec. 2). - Administers an additional income tax at a rate of 2.5 percent of one's tax liability for each taxable year beginning January 1, 2009 (Sec. 5). - Administers a new tax on the severing of oil from the earth or water at a rate of 9.9 percent of the gross value of each barrel of oil severed beginning July 1, 2009 (Sec. 7). - Exempts the following from the oil severance tax (Sec. 7):
Title: Tax Law Amendments