Sec. B-1. 36 MRSA §2903, sub-§1, as repealed and replaced by PL 1997, c. 738, §2, is amended to read:
1. Excise tax imposed. An excise tax is imposed on internal combustion engine fuel used or sold within this State, including sales to the State or a political subdivision of the State, at the rate of 19¢ 22¢ per gallon, except that the rate is 3.4¢ per gallon on internal combustion engine fuel, as defined in section 2902, bought or used for the purpose of propelling jet or turbojet engine aircraft.
Sec. B-2. 36 MRSA §2903, sub-§1-B is enacted to read:
1-B. Inventory tax. All internal combustion fuel on which the 19¢ per gallon tax rate in effect prior to August 1, 1999 has been imposed pursuant to subsection 1 that is held in inventory by a distributor or retail dealer as of the close of July 31, 1999 is subject to an inventory tax of 3¢ per gallon. Distributors and retail dealers holding such tax-paid inventory shall make payment of the inventory tax to the State Tax Assessor by September 15, 1999 accompanied by a form prescribed by the assessor.
Sec. B-3. 36 MRSA §3203, sub-§1, as enacted by PL 1997, c. 738, §10, is amended to read:
1. Generally. Except as provided in section 3204-A, an excise tax is levied and imposed on all suppliers of special fuel sold and on all users of special fuel used in this State for each gallon of distillate at the rate of 20¢ 23¢ per gallon and for each gallon of low-energy fuel at the rate of 18¢ 21¢ per gallon.
Sec. B-4. 36 MRSA §3203-B is enacted to read:
All special fuel on which the 20¢ per gallon tax rate in effect prior to August 1, 1999 has been imposed pursuant to section 3203, subsection 1 that is held in inventory by a distributor or retail dealer as of the close of July 31, 1999 is subject to an inventory tax of 3¢ per gallon. Distributors and retail dealers holding such tax-paid inventory shall make payment of the inventory tax to the State Tax Assessor by September 15, 1999 accompanied by a form prescribed by the assessor.
Sec. B-5. Application. Those sections of this Part that amend the Maine Revised Statutes, Title 36, section 2903, subsection 1 and section 3203, subsection 1 apply to transactions involving internal combustion fuel used or sold on or after August 1, 1999.
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