SUMMARY--Eliminates conversion factor for liquefied petroleum gas used in calculation of tax on special fuel. (BDR 32-1864)
FISCAL NOTE: Effect on Local Government: No.
Effect on the State or on Industrial Insurance: No.
EXPLANATION - Matter in italics is new; matter in brackets [ ] is material to be omitted.
AN ACT relating to taxation; eliminating the conversion factor for liquefied petroleum gas used in the calculation of the tax on special fuel; and providing other matters properly relating thereto.
THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
Section 1 NRS 366.197 is hereby amended to read as follows:
366.197For the purpose of taxing the sale or use of compressed natural gas , [or liquefied petroleum gas,] 125 cubic feet of natural gas [or liquefied petroleum gas] shall be deemed to equal 1 gallon of special fuel.
Sec. 2 This act becomes effective on July 1, 1997.