Bill > A04478

This bill eliminates the requirement for commercial fishing vessels to pay and subsequently receive a refund of the ten-cent diesel excise tax and sales tax on diesel motor fuel used in their operations. It provides an exemption from these taxes for diesel motor fuel and residual petroleum products sold to and used by commercial fishermen in their fishing vessels. The bill also clarifies that the existing sales tax exemption for diesel motor fuel used in the operation of fishing vessels applies to the taxes imposed under the sales and use tax law.