S 0707 Joint Resolution, By Elliott
 A JOINT RESOLUTION TO FREEZE THE PRICE OF WHOLESALE GASOLINE FOR EACH OCTANE
 SOLD IN THIS STATE AT THE AVERAGE PRICE IT SELLS FOR ON JUNE 1, 2001, AS
 DETERMINED BY THE SOUTH CAROLINA DEPARTMENT OF REVENUE, AND PROVIDE THAT IF
 THE WHOLESALE PRICE OF ANY PETROLEUM PRODUCT INCREASES BETWEEN JUNE 1, 2001
 AND DECEMBER 31, 2001, THE INCREASE BECOMES A SURTAX AND MUST BE CREDITED TO
 THE SOUTH CAROLINA HIGHWAY FUND.

   05/23/01  Senate Introduced and read first time SJ-4
   05/23/01  Senate Referred to Committee on Labor, Commerce and
                     Industry SJ-4

TO FREEZE THE PRICE OF WHOLESALE GASOLINE FOR EACH OCTANE SOLD IN THIS STATE AT THE AVERAGE PRICE IT SELLS FOR ON JUNE 1, 2001, AS DETERMINED BY THE SOUTH CAROLINA DEPARTMENT OF REVENUE, AND PROVIDE THAT IF THE WHOLESALE PRICE OF ANY PETROLEUM PRODUCT INCREASES BETWEEN JUNE 1, 2001 AND DECEMBER 31, 2001, THE INCREASE BECOMES A SURTAX AND MUST BE CREDITED TO THE SOUTH CAROLINA HIGHWAY FUND.

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

SECTION 1. (A) The wholesale price of gasoline for each octane rating sold in this State is frozen at the average price it sells for on June 1, 2001, as determined by the South Carolina Department of Revenue.

(B) The prices frozen pursuant to the provisions of this joint resolution are those from the refinery as the gasoline enters South Carolina whether it enters by pipeline, ship, or truck.

(C) This price shall remain frozen from June 1, 2001 until December 31, 2001.

(D) If the wholesale price of any petroleum product increases between June 1, 2001 and midnight December 31, 2001, the increase shall become a surtax and credited to the South Carolina Highway Fund.

SECTION 2. This joint resolution takes effect upon approval by the Governor.