Fuel tax-2.

04LSO-0402.L1

                                                         

FISCAL NOTE (HB0158)

 

	FY 2005	FY 2006	FY 2007
NON-ADMINISTRATIVE IMPACT
Anticipated Revenue Increase:
HIGHWAY FUND	8,450,000	17,030,000	25,740,000
LOCAL SOURCES FUND	4,350,000	8,770,000	13,260,000

 

Source of revenue increase:

 

Gasoline and diesel fuel license tax increases with standard exemptions.

 

Assumptions:

 

This bill increases the gasoline and diesel fuel tax by 2 cents ($.02) per gallon effective July 1, 2004, an additional 2 cents ($.02) per gallon effective July 1, 2005, and an additional 2 cents ($.02) per gallon effective July 1, 2006.

 

The increase in the motor fuel license taxes on gasoline and diesel fuel products will generate an estimated $6.4 million per penny in FY 2005, $6.45 million per penny in FY 2006, and $6.5 million per penny in FY 2007.

 

The above estimates include the impact of standard exemptions.

 

This bill is effective July 1, 2004.

 

 

 

 

Prepared by:   Dean Temte, LSO    Phone:   777-7881

(Information provided by Kevin Hibbard, WYDOT; phone 777-4026)