DIGEST OF INTRODUCED BILL
Mileage based gasoline tax. Replaces the per gallon tax on the use of gasoline with a $0.01 per mile tax, effective January 1, 2004. Provides for the annual conversion of the per mile tax to a per gallon rate based on a formula involving the annual motor vehicle miles of travel for Indiana and the annual total certified taxable gallons of motor fuel. Provides for an annual adjustment to the per gallon conversion rate for inflation. Provides that the per gallon conversion rate may not be reduced below $0.18 per gallon in 2004 or, after 2004, below the conversion rate of the previous year.