Michigan HB5966 proposes a gas tax holiday until November 2026 or when gas prices drop below $3.50 per gallon.

Michigan HB5966 amends the state's motor fuel tax, proposing a temporary suspension of the tax until November 2026 or when the nationwide average gas price falls below $3.50 per gallon. The bill also adjusts the tax rates for gasoline and diesel fuel, setting specific rates for different periods. It includes provisions for tax collection, remittance, and exemptions, particularly for alternative fuels. The bill aims to ensure that the tax burden is fairly distributed and that suppliers and importers comply with tax regulations.

Michigan HB5966 proposes a gas tax holiday until November 2026 or when gas prices drop below $3.50 per gallon.

Michigan HB5966 amends the state's motor fuel tax, proposing a temporary suspension of the tax until November 2026 or when the nationwide average gas price falls below $3.50 per gallon. The bill also adjusts the tax rates for gasoline and diesel fuel, setting specific rates for different periods. It includes provisions for tax collection, remittance, and exemptions, particularly for alternative fuels. The bill aims to ensure that the tax burden is fairly distributed and that suppliers and importers comply with tax regulations.