4/17/03-A fuel tax revenue package intended to help patch a gaping hole in the state budget failed to pass out of committee before the regular session ended earlier this month.
SB758 would increase the diesel fuel tax rate by 10 cents a gallon from 24.5 cents to 34.5 cents. The same increase would raise the gasoline tax from 23.5 cents to 33.5 cents.

4/4/03-A Senate committee is reviewing a fuel tax revenue package intended to help patch a gaping hole in the state budget.
Reported estimates put this year’s budget deficit at more than $500 million, with another $1.2 billion shortfall predicted for 2004.
SB758, sponsored by Sen. John A. Giannetti Jr., D-21st District, would increase the diesel fuel tax rate by 10 cents a gallon from 24.5 cents to 34.5 cents. The same increase would raise the gasoline tax from 23.5 cents to 33.5 cents.
With an effective date of Jan. 1, 2004, the tax increase would net the state $139.7 million for its Transportation Trust Fund in the 2004 fiscal year and $282.2 million in 2005.
The bill is in the Senate Budget & Taxation Committee. An identical bill – HB1163 – is in the House Ways & Means Committee.