Provides for a fuel tax holiday until the end of the ongoing hostilities with Iran and the reopening of the strait of Hormuz

Summary

The bill suspends state taxes on gasoline, diesel and fuel gas sold at retail in New York for the period extending from the month after the law takes effect until the month after the conflict with Iran ends and the Strait of Hormuz reopens. Retailers must lower pump prices by the amount of the waived taxes and can advertise the tax‑free status, while utilities must reduce fuel‑gas rates similarly. The state will credit retailers for prepaid taxes and adjust the special obligation reserve after the holiday.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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