New York Law Limiting Fuel Taxes Takes Effect Thursday

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New York state law limiting the tax on diesel and gasoline to 8 cents a gallon takes effect on Thursday, news reports said.

New York Gov. George Pataki (R) signed the law last week limiting the tax to 8 cents when gasoline and diesel are selling for at least $2 per gallon, the Buffalo Business Journal reported.

If fuel prices fall below that level, the sales tax will be proportionally applied at 4%, the paper reported.

Pataki said he wants state lawmakers to enact other energy proposals, including a $2,000 credit for those who purchase hybrid-fuel vehicles, the Business Journal said.