HB 374 - Gasoline Tax Amendments - Kentucky Key Vote
Johnny Bell voted Yea (Passage) on this Legislation.
Timeline
- Executive Signed
- March 13, 2009
- Senate Bill Passed
- March 13, 2009
- House Bill Passed
- March 6, 2009
- Introduced
- Feb. 10, 2009
Related Issues
Stage Details
Title: Gasoline Tax Amendments
Signed by Governor Steve Beshear
Title: Gasoline Tax Amendments
Vote Smart's Synopsis:
Vote to pass a bill that amends the requirements for setting the average wholesale price of gasoline for the purposes of taxation, thereby preventing a reduction of up to $0.03996 per gallon in the gasoline tax as a result of a decrease in gas prices.
Highlights:
-Increases the minimum amount at which Department of Revenue is authorized to set the average wholesale price of gasoline from $1.342 per gallon to $1.786 per gallon (an increase of $0.444) (Sec. 1). -Retains the existing tax rate on gasoline of 9 percent of the average wholesale price, thereby preventing a reduction of up to $0.03996 per gallon in the gasoline tax as a result of a decrease in gas prices (9 percent of $0.444 = $0.03996) (Sec. 1). -Retains the existing cap on increasing the average wholesale price of gasoline: 10 percent over the average wholesale price at the close of the previous fiscal year (Sec. 1). -This is a substitute bill sponsored by the House Committee on Appropriations and Revenue.
Title: Gasoline Tax Amendments
Vote Smart's Synopsis:
Vote to pass a bill that amends the requirements for setting the average wholesale price of gasoline for the purposes of taxation, thereby preventing a reduction of up to $0.03996 per gallon in the gasoline tax as a result of a decrease in gas prices.
Highlights:
-Increases the minimum amount at which Department of Revenue is authorized to set the average wholesale price of gasoline from $1.342 per gallon to $1.786 per gallon (an increase of $0.444) (Sec. 1). -Retains the existing tax rate on gasoline of 9 percent of the average wholesale price, thereby preventing a reduction of up to $0.03996 per gallon in the gasoline tax as a result of a decrease in gas prices (9 percent of $0.444 = $0.03996) (Sec. 1). -Retains the existing cap on increasing the average wholesale price of gasoline: 10 percent over the average wholesale price at the close of the previous fiscal year (Sec. 1). -This is a substitute bill sponsored by the House Committee on Appropriations and Revenue.
Title: Gasoline Tax Amendments
More Info About this Vote
NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.
NOTE: A BILL WITH AN EMERGENCY CLAUSE REQUIRES A FULL MAJORITY VOTE OF THE LEGISLATURE: 51 MEMBERS IN THE HOUSE OR 20 IN THE SENATE. THE BILL GOES INTO EFFECT IMMEDIATELY UPON THE GOVERNOR'S SIGNATURE OR AN EFFECTIVE DATE AS SPECIFIED WITHIN THE BILL.