Amends TCA Title 67, Chapter 6.

ON MAY 3, 2021, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 772, AS AMENDED. AMENDMENT #1 rewrites this bill to revise present law concerning the aviation fuel tax. Present law levies a 4.5 percent tax on aviation fuel. The aviation fuel tax on a person's purchase, use, consumption, or storage of aviation fuel may not exceed $10,500,000 for any tax year occurring on or after July 1, 2018. This amendment replaces the present law $10,500,000 cap on the aviation fuel tax. Under this amendment, the tax on a person's purchase, use, consumption, or storage of aviation fuel that is used in the operation of an aircraft of a certificated or licensed air carrier with a transportation hub within this state, shall not exceed the following: (1) $8,500,000 for the period of July 1, 2021, through June 30, 2022; and (2) $5,000,000 for any tax year occurring on or after July 1, 2022. For purposes of this amendment, "air carrier" means any person, firm, corporation, or entity providing air transportation of passengers or property. Also, "transportation hub" is defined to mean a location in this state from which there originates 50 or more flight departures five days per week for six or more months during the calendar year and where passengers or property are regularly exchanged at the location between flights of the same or a different certificated or licensed air carrier. This amendment required the commissioner of revenue to establish a process for applying the cap provided by this amendment. This amendment requires that the transportation equity trust fund is reimbursed for decreased aviation fuel tax revenue resulting from any public act passed by the general assembly after January 1, 2021, in an amount equal to the estimated decrease in tax revenue as reflected in the fiscal note prepared for such legislation by the fiscal review committee. This amendment requires that the department of finance and administration annually report to the chairpersons of various legislative committees the total amount of aviation fuel tax revenues collected for the preceding fiscal year.