Current Status Bill Number:1393 Type of Legislation:General Bill GB Introducing Body:Senate Introduced Date:19960424 Primary Sponsor:Elliott All Sponsors:Elliott Drafted Document Number:pfm\9293htc.96 Residing Body:Senate Current Committee:Finance Committee 06 SF Subject:Gasoline, roll back wholesale price of
Body Date Action Description Com Leg Involved
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Senate 19960424 Introduced, read first time, 06 SF
referred to Committee
View additional legislative information at the LPITS web site.
TO ROLL BACK THE WHOLESALE PRICE OF GASOLINE IN THIS STATE TO ITS BASE PRICE ON APRIL 1, 1996, EXCEPT WHERE A CONTRACTUAL OBLIGATION PROHIBITS THE ROLLBACK, TO DESIGNATE PRICES UNDER CERTAIN CONDITIONS TO BE CONSIDERED AS A SURTAX, AND TO PROVIDE THAT THE SURTAX REVENUE MUST BE USED FOR NEW HIGHWAY CONSTRUCTION.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The wholesale price of gasoline in this State is rolled back to its base price as of April 1, 1996, as it entered this State from the refineries or suppliers located outside this State.
SECTION 2. Prices above the wholesale gasoline price established pursuant to Section 1 of this act may be charged in order to comply with contractual provisions that require the same pricing for multi-state outlets or in order to comply with any other contractual provisions in existence on April 1, 1996. The difference between the rollback price as mandated by this act and the increased wholesale price allowed by this act to conform with contractual obligations is deemed a surtax which must be paid and collected as gasoline taxes are paid and collected pursuant to Chapter 28 of Title 12 of the 1976 Code. This surtax revenue must be credited to a fund separate and apart from the State Highway Fund styled the "New Highway Construction Trust Fund", proceeds of which must be used by the Department of Transportation for new highway construction.
SECTION 3. This act takes effect upon approval by the Governor.