The department may rescind a purchaser's eligibility and election to defer taxable motor fuel tax remittances after a hearing and upon a showing of good cause, including failure to make timely tax deferred payment to a supplier of tax under Section 12-28-925 by sending written notice to all suppliers or publishing notice of the revocation pursuant to regulations. The department may require further assurance of the purchaser's financial responsibility, may increase the bond requirement for that purchaser, or may take other action to ensure remittance of the taxable motor fuel tax. The department shall follow the revocation procedures under Section 12-28-1180 in rescinding eligible purchaser status.