SB3659 - Tennessee - Revenue, Dept. Of, Taxes, Gasoline, Petroleum Products

Taxes, Gasoline, Petroleum Products - Changes the point of taxation on gasoline, fuel alcohol, and substitutes from when the product first comes to rest in the state to measuring the taxable gallons removed, other than through a bulk transfer, from the bulk transfer/terminal system or from a qualified terminal or refinery within this state; measures and levies the tax in the same manner as diesel tax is measured and taxed. - Amends TCA Title 67, Chapter 3.

(CORRECTED) Increase State Expenditures - $100,000/One-Time Decrease State Revenue - Up to $10,000,000/One-Time/FY07-08 Increase State Revenue - Up to $10,000,000/One-Time/FY08-09 Other Fiscal Impact - This bill will cause a one-time postponement of gasoline tax revenue collections. It is estimated that the time of postponement will not exceed 120 calendar days.