Refund for tax paid on gasoline used to create racing fuel

Sec. 12.5. (a) A person is entitled to a gasoline tax refund for gasoline purchased to create racing fuel if:

(1) the person is the purchaser of the gasoline and has paid the gasoline tax thereon; and

(2) the racing fuel blended by the purchaser using the purchased gasoline:

(A) consists of a blend nominally consisting of more than eighty-nine percent (89%) ethanol and less than eleven percent (11%)

gasoline;

(B) is not a fuel that can be used for propelling a motor vehicle operated in whole or in part on an Indiana public highway; and

(C) will be resold by the person purchasing the fuel to a purchaser that is located in another state, territory, or foreign

country.

(b) A person claiming a refund must provide invoices or purchase orders that show the blended racing fuel sold:

(1) was blended as described in subsection (a)(2)(A); and

(2) was sold to a person that exported the blended fuel for resale in another state, territory, or foreign country.