H 3220 General Bill, By Rice

Similar(S 101)
 A BILL TO AMEND CHAPTER 28, TITLE 12, CODE OF LAWS OF SOUTH CAROLINA, 1976, BY
 ADDING ARTICLE 4 IMPOSING A PETROLEUM FRANCHISE FEE EQUAL TO FIVE PERCENT OF
 THE AVERAGE PRICE OF EACH GALLON OF MOTOR FUEL, NOT TO EXCEED SEVEN CENTS A
 GALLON, TO PROVIDE FOR AN ANNUAL ADJUSTMENT IN THE SEVEN CENTS A GALLON
 MAXIMUM FEE TO REFLECT CHANGES IN THE CONSUMER PRICE INDEX, AND TO REQUIRE THE
 FEE REVENUES TO BE CREDITED TO THE STATE HIGHWAY FUND AND USED FOR THE
 PURPOSES FOR WHICH THAT FUND IS ESTABLISHED.

   12/22/04  House  Prefiled
   12/22/04  House  Referred to Committee on Ways and Means
   01/11/05  House  Introduced and read first time HJ-134
   01/11/05  House  Referred to Committee on Ways and Means HJ-135

TO AMEND CHAPTER 28, TITLE 12, CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING ARTICLE 4 IMPOSING A PETROLEUM FRANCHISE FEE EQUAL TO FIVE PERCENT OF THE AVERAGE PRICE OF EACH GALLON OF MOTOR FUEL, NOT TO EXCEED SEVEN CENTS A GALLON, TO PROVIDE FOR AN ANNUAL ADJUSTMENT IN THE SEVEN CENTS A GALLON MAXIMUM FEE TO REFLECT CHANGES IN THE CONSUMER PRICE INDEX, AND TO REQUIRE THE FEE REVENUES TO BE CREDITED TO THE STATE HIGHWAY FUND AND USED FOR THE PURPOSES FOR WHICH THAT FUND IS ESTABLISHED.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Chapter 28, Title 12 of the 1976 Code is amended by adding:

"Article 4

Section 12-28-410.    There is imposed a petroleum franchise fee on all suppliers of motor fuels sold and delivered within the State. The fee equals five percent of the retail value of all motor fuel subject to the user fee sold by each supplier but not more than seven cents a gallon. Retail value is an average retail price of each grade of motor fuel published by the Department of Revenue on March thirty-first, June thirtieth, September thirtieth, and December thirty-first of each year. The average retail value published by the Department of Revenue remains in effect for three months. The average retail price must be inclusive of all local, state, and federal fees and taxes in addition to the base price of the motor fuel. The measurement of motor fuels applicable to the petroleum franchise fee is subject to the same requirements set forth in this chapter for the measurement of user fees. Except when specifically otherwise provided in this article, for all purposes of reporting, payment, collection, and enforcement, this petroleum franchise fee is deemed to be imposed pursuant to Article 3 of this chapter. Beginning July 1, 2006, the maximum fee of seven cents a gallon must be increased annually and cumulatively every July first by the Department of Revenue to reflect increases in the consumer price index occurring in the preceding calendar year.

Section 12-28-420.    All proceeds derived from the petroleum franchise fee imposed pursuant to this article must be turned over to the Department of Transportation and credited to the state's highway fund as established pursuant to Section 67-11-20, and used for the purposes for which the state highway fund is established by law."

SECTION    2.    This act takes effect July 1, 2005.