Bill > LB50

This bill amends sections of Nebraska law to change provisions relating to certain taxes imposed on the average wholesale price of gasoline. The key provisions are: 1) Establishes a minimum average wholesale price of $2.44 per gallon to be used for calculating the 5% tax on gasoline starting January 1, 2025. This is to prevent the tax from decreasing below a certain level. 2) Requires the Department of Transportation to use at least 35% of the funds allocated to the Highway Cash Fund from the tax proceeds to pay for high-priority surface transportation projects. 3) The bill becomes operative on January 1, 2025 and contains an emergency clause, meaning it would take effect immediately upon passage and approval.