Temporarily reduce motor fuel tax rates

HB 850 proposes to temporarily lower the state tax on gasoline and other motor fuels to help address rising fuel prices. Under this bill, the tax on each gallon of gasoline would be reduced to 19.25 cents, while taxes on compressed natural gas and other fuels would drop to 23.5 cents. The revenue collected during this period would still be distributed according to existing rules, but the specific dollar amounts allocated for certain purposes would be cut in half. The legislation includes an emergency declaration to make these changes take effect immediately.