HB1797 - Tennessee - Gas, Petroleum Products, Volatile Oils, Titles, Short

Companion Bill SB2003. Gas, Petroleum Products, Volatile Oils - Enacts the "Tennessee Agricultural Ethanol Production Act of 2007." - Amends TCA Title 54, Chapter 1; Title 67 and Title 68, Chapter 135. Fiscal Summary for *HB1797 / SB2003Decrease State Revenues - $1,672,500 - FY07-08 $3,345,000 - FY08-09 $3,345,000 - FY09-10 $1,672,500 - FY10-11 Increase State Expenditures - $100,000 One-Time Bill Summary for *HB1797 / SB2003 This bill creates a three-year pilot program in the three counties in east Tennessee that are designated as non-attainment areas by the EPA. Under this program, a taxpayer would receive an ethanol blended gasoline tax credit against the taxpayer's franchise tax liability if the taxpayer: (1) Is a dealer. A dealer is someone engaged in the sale of gasoline to the [...]

show full description