Amends TCA Title 4; Title 42 and Title 67.
ON APRIL 18, 2023, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 626, AS AMENDED.<br /> <br /> AMENDMENT #1 rewrites this bill to change the present law that imposes and remits a 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. Present law prohibits the tax from exceeding the following: <br /> <br /> (1) $8,500,000 for the period of July 1, 2021, through June 30, 2022; and<br /> <br /> (2) $5,000,000 for any tax year occurring on or after July 1, 2022.<br /> <br /> This amendment revises this law by:<br /> <br /> (1) Limiting the cap in (2) above to the period of July 1, 2022, through June 30, 2023;<br /> <br /> (2) Adding a cap of $3,000,000 for the period of July 1, 2023, through June 30, 2024; and <br /> <br /> (3) Adding a cap of $1,000,000 for a tax year occurring on or after July 1, 2024. <br />
ON APRIL 18, 2023, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 626, AS AMENDED.<br /> <br /> AMENDMENT #1 rewrites this bill to change the present law that imposes and remits a 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. Present law prohibits the tax from exceeding the following: <br /> <br /> (1) $8,500,000 for the period of July 1, 2021, through June 30, 2022; and<br /> <br /> (2) $5,000,000 for any tax year occurring on or after July 1, 2022.<br /> <br /> This amendment revises this law by:<br /> <br /> (1) Limiting the cap in (2) above to the period of July 1, 2022, through June 30, 2023;<br /> <br /> (2) Adding a cap of $3,000,000 for the period of July 1, 2023, through June 30, 2024; and <br /> <br /> (3) Adding a cap of $1,000,000 for a tax year occurring on or after July 1, 2024. <br />
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