SB 6240 Alternative Jet Fuel: Business Financial Services Gaming & Trade Committee (January 25, 2024)
Summary
Clint McCarthy's January 25, 2024 presentation compares current law with SB 6240 on eligibility for alternative jet fuel tax preferences. The bill cuts the annual production capacity threshold from 20 million gallons per year to 500,000 gallons and drops the economically distressed area requirement.
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“SB 6240 Alternative Jet Fuel: Business Financial Services Gaming & Trade Committee (January 25, 2024).”
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SB 6240
Alternative Jet Fuel.
Business
Financial Services
Gaming
&
Clint McCarthy Trade
Committee
January 25, 2024
Proposed change to Eligibility for Alternative Jet Fuel Tax
Preferences
Eligibility Requirement Current Law SB 6240
Annual Production Capacity 20 million gallons per year 500,000 gallons
Geographic Limitations Counties with a population less than Counties with a population of less than
650,000 650,000 AND located in an
economically distressed area.
Tax Preferences B&O preferential rate (0.275%); B&O preferential rate (0.275%);
B&O tax credit B&O tax credit
Economically Distressed Areas
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