AN ACT CONCERNING BIODIESEL FUEL BLENDS AND THE PETROLEUM PRODUCTS GROSS EARNINGS TAX.


General Assembly		*Proposed Bill No. 5212*
*January Session, 2007*		LCO No. 403

Referred to Committee on Environment
Introduced by:
REP. MILLER, 122nd Dist. REP. PISCOPO, 76th Dist. REP. CARON, 44th Dist.

AN ACT CONCERNING BIODIESEL FUEL BLENDS AND THE PETROLEUM PRODUCTS GROSS EARNINGS TAX.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That section 12-587 of the general statutes be amended to exempt from the petroleum products gross earnings tax any fuel blend containing twenty per cent or more of biodiesel fuel.

Statement of Purpose:

To encourage economic development in the production of environmentally-friendly products by providing a tax incentive for the use of fuels that will reduce greenhouse gas emissions and reduce dependence on fossil fuels.