Bill > SB86

This bill extends the timeframe for businesses to file new or replacement surety bonds and to pay assessments on illegally imported or transported motor fuels. Specifically, it increases the period from 30 days to 60 days for licensees to provide a new or additional surety bond when required by the department, or to appeal such a requirement to the Alabama Tax Tribunal. Similarly, the bill extends the payment period for taxes, interest, and penalties on illegally imported or transported motor fuels from 30 days to 60 days before the commissioner can sell the seized fuel to satisfy the assessment. These changes apply to various licenses related to motor fuel sales and transportation, including those for public sellers of compressed natural gas (CNG) and liquefied natural gas (LNG), suppliers, distributors, and importers. A surety bond is a financial guarantee from an insurance company that a business will fulfill its legal obligations, in this case, paying motor fuel excise taxes.

Government Affairs

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