SB 1035: Motor vehicle fuel tax: greenhouse gas reduction programs: suspension.

The bill proposes to suspend the low carbon fuel standard regulations and the imposition of the motor vehicle fuel tax for one year. This suspension would exempt suppliers of transportation fuels from regulations for the use of market-based compliance mechanisms for the same period. The bill would also require sellers to provide receipts to purchasers indicating the amount of tax that would have otherwise applied to the transaction. Additionally, the bill would require savings from the suspension to be passed on to the end consumer, making this a violation of unfair competition laws if not done so. The bill would make an appropriation by transferring funds from the general fund to the greenhouse gas reduction fund and the motor vehicle fuel account in the transportation tax fund. The bill is declared to take effect immediately as an urgency statute.