AB 1058: Motor Vehicle Fuel Tax Law: suspension of tax.

The bill proposes to suspend the tax on motor vehicle fuels for one year. This suspension applies to all gallons of motor vehicle fuel removed from a refinery or terminal rack in the state, entered into the state, or sold in the state. The tax suspension requires sellers of motor vehicle fuels to provide a receipt to purchasers indicating the amount of tax that would have otherwise applied to the transaction. The savings from the suspension must be passed on to the end consumer, and failure to do so is considered an unfair business practice. The bill also directs the transfer of general fund moneys to the motor vehicle fuel account in the transportation tax fund.