4/15/08-A bill in the Assembly Ways and Means Committee would reduce by half the tax on petroleum businesses.
Sponsored by Assemblyman James Tedisco, R-Schenectday, A9211 would set the sales and compensating use taxes on the retail sales of motor fuel and diesel fuel at 4 cents per gallon instead of 8 cents per gallon.
According to a fiscal note on the bill it would decrease revenues by about $570 million each year in petroleum business tax revenue and $270 million annually in sales tax revenue.
For bill status, call (518) 455-7545. In New York, call 1-800-342-9860.