Exempts fuel for certain school buses from taxes; clarifies dyed fuel tax treatment; adjusts estate tax for certain decedents.

The bill exempts fuel used for the operation of certain school buses from the petroleum products gross receipts tax and the motor fuel tax. It clarifies the tax treatment of certain dyed fuel under the petroleum products gross receipts tax, ensuring that receipts from sales of dyed fuel are exempt if not used in a motor vehicle on public highways. Additionally, the bill adjusts the determination of taxable estates of certain resident decedents for estate tax purposes, applying specific rules for decedents dying between January 1, 2017, and January 1, 2018.

Exempts fuel for certain school buses from taxes; clarifies dyed fuel tax treatment; adjusts estate tax for certain decedents.

The bill exempts fuel used for the operation of certain school buses from the petroleum products gross receipts tax and the motor fuel tax. It clarifies the tax treatment of certain dyed fuel under the petroleum products gross receipts tax, ensuring that receipts from sales of dyed fuel are exempt if not used in a motor vehicle on public highways. Additionally, the bill adjusts the determination of taxable estates of certain resident decedents for estate tax purposes, applying specific rules for decedents dying between January 1, 2017, and January 1, 2018.