New York S02093 proposes a phased decrease in excise, sales, and petroleum business taxes on diesel and motor fuel when the average price exceeds.

New York S02093 amends the tax law to implement a phased decrease in taxes on diesel and motor fuel when the average price in the state exceeds $2.25 per gallon. The tax reduction is set at one-quarter of a percentage point for every five-cent increase in the cost of motor fuel per gallon. If the average price reaches or exceeds $3 per gallon, the tax is suspended entirely. Conversely, if the price falls below $3 per gallon, the tax resumes with the same incremental increases.

New York S02093 proposes a phased decrease in excise, sales, and petroleum business taxes on diesel and motor fuel when the average price exceeds.

New York S02093 amends the tax law to implement a phased decrease in taxes on diesel and motor fuel when the average price in the state exceeds $2.25 per gallon. The tax reduction is set at one-quarter of a percentage point for every five-cent increase in the cost of motor fuel per gallon. If the average price reaches or exceeds $3 per gallon, the tax is suspended entirely. Conversely, if the price falls below $3 per gallon, the tax resumes with the same incremental increases.