Exempts fuel used for operation of certain school buses from petroleum products gross receipts tax and motor fuel tax; clarifies tax treatment of certain dyed fuel thereunder; clarifies determination of taxable estates of certain decedents.
Provides for a phased decrease of excise taxes and sales taxes and petroleum business taxes on diesel motor fuel and motor fuel when the average price of motor fuel in the state exceeds $2.25 per gallon; authorizes cities having a population of one million or more and counties to adopt local laws limiting taxes on diesel motor fuel and motor fuel.