North Dakota implemented a new bill relating to alternative fuels. The new bill, which is named SB 228, provides for the regulation of alternative fuels, also counting biodiesel and E85 gasoline. SB 228 subjects alternative fuels to present law regarding the taxation of fuels, which contains a surety bond requirement. The surety bond required for fuel dealers is now accountable for ensuring that the dealer will present factual reports on their purchases of alternative fuels. The present law already requires the surety bond to guarantee the precision of the dealer’s reports on all other fuels that they attained. SB 228 became active on July 1st, 2009, and it will terminate on November 30th, 2010.
Eric is the Chief Marketing Officer of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog.