___________________ moved that SB 1 be amended as follows:
" Section 28. That § 10-47B-14 be repealed.
10-47B-14. Any person having title to any fuel in storage subject to the fuel excise tax pursuant
to § 10-47B-4 immediately prior to a tax increase under this chapter, is subject to an inventory tax
based on the gallons in storage as of the close of the business day preceding the effective date of the
increased tax rate.
Section 29. That § 10-47B-15 be repealed.
10-47B-15. Any person subject to the tax imposed by § 10-47B-14 shall:
10-47B-16. In determining the amount of fuel tax due under §§ 10-47B-14 and 10-47B-15, the
person may exclude the amount of fuel that will not be pumped out of the storage tank because the
fuel is below the mouth of the draw pipe. For this purpose, the person may deduct two hundred
gallons for a storage tank with a capacity of more than one thousand gallons and less than ten
thousand gallons, and four hundred gallons for a storage tank with a capacity of ten thousand gallons
or more.
Section 31. That § 10-47B-17 be repealed.
10-47B-17. The amount of the inventory tax imposed by § 10-47B-14 is equal to the tax rate
indicated in § 10-47B-4 times the gallons in storage as determined under §§ 10-47B-15 and 10-47B-16. ".