Bill > A05512

This bill provides a motor fuel tax exemption for sales of diesel motor fuel used in vessels used directly in a business providing sport fishing opportunities for hire to the general public. The bill amends the tax law to define a "commercial sport fishing vessel" and exempts the fuel used in such vessels from the tax on petroleum businesses and from sales and compensating use taxes, provided that the vessel provides at least 50% of the owner's total annual income. The bill also allows cities with a population of 1 million or more to elect to provide the same exemption from local sales and use taxes.