Ohio 2023-2024 Regular Session

Ohio Senate Bill SB48

Caption

Reduce tax rate on certain motor fuel

Impact

The overall impact of SB48 is primarily on the state's revenue generation from motor fuel taxes. This reduction in tax could lead to decreased funding for crucial infrastructure initiatives, as the revenue derived from these taxes is typically allocated to maintaining and improving the state's highways, bridges, and other transportation-related infrastructure. The bill also outlines specific allocations for funds from motor fuel taxes, emphasizing their importance for various transportation and road maintenance projects, which may suffer due to reduced revenues.

Summary

Senate Bill 48 aims to amend section 5735.05 of the Ohio Revised Code to reduce the excise tax rate on certain motor fuels. The proposal stipulates a decrease in the tax applied to motor fuel dealers on gross gallons received within the state. By lowering the tax, the bill is designed to alleviate financial pressures on consumers and businesses, promoting economic activity related to fuel consumption. The changes are set to take effect on January 1, 2024, reflecting the legislative intent to offer immediate relief from existing fuel tax burdens.

Contention

Notably, there may be contention regarding the effectiveness of the tax reduction on fuel prices for consumers. Proponents may argue that lower taxes will directly benefit motorists and encourage more road use, while opponents may express concerns over the sustainability of transportation funding in light of these reductions. Discussions may arise regarding the balance between providing immediate fiscal relief and ensuring long-term investments in state infrastructure, leading to debates on potential trade-offs associated with reduced tax collections.

Companion Bills

No companion bills found.

Previously Filed As

OH HB23

Enact FY 2024-2025 transportation budget

OH HB1071

Motor fuel taxes; bring forward certain sections.

OH HB1575

MOTOR FUEL TAX-RATE

OH HB2613

MOTOR FUEL TAX-RATE

OH SB3095

Tax; cut income and grocery taxes, increase fuel excise tax, and adjust distribution of certain fuel and sales taxes.

OH HB572

Authorizes motor fuel tax rate changes based on certain department of transportation expenditures

OH ACA5

Motor vehicles: fuel taxes, sales and use taxes, and fees: expenditure restrictions.

OH SB855

Relating to a county motor fuels tax in certain counties for mobility improvement projects; providing authority to impose the tax, issue bonds, and impose penalties.

OH HB5747

Transportation: motor carrier fuel tax; certain definitions in the motor carrier fuel tax act; modify. Amends sec. 1 of 1980 PA 119 (MCL 207.211).

OH HB1458

USE/OCC-MOTOR FUEL-LOCAL GOV

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