Exempts ethanol blended gasoline with more than 85% ethanol from excise tax when used in agricultural implements.

The bill exempts ethanol blended gasoline with more than 85% ethanol from the excise tax when purchased at a terminal or refinery rack for use in agricultural implements. This aligns with existing provisions allowing refunds for certain exempt purposes, including agricultural production. The tax exemption applies specifically to ethanol blends used exclusively in implements for agricultural production.

Exempts ethanol blended gasoline with more than 85% ethanol from excise tax when used in agricultural implements.

The bill exempts ethanol blended gasoline with more than 85% ethanol from the excise tax when purchased at a terminal or refinery rack for use in agricultural implements. This aligns with existing provisions allowing refunds for certain exempt purposes, including agricultural production. The tax exemption applies specifically to ethanol blends used exclusively in implements for agricultural production.