[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[S. 1008 Introduced in Senate (IS)]







105th CONGRESS
  1st Session
                                S. 1008

  To amend the Internal Revenue Code of 1986 to provide that the tax 
incentives for alcohol used as a fuel shall be extended as part of any 
                      extension of fuel tax rates.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 11, 1997

   Mr. Durbin (for himself, Ms. Moseley-Braun, Mr. Johnson, and Mr. 
  Wellstone) introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to provide that the tax 
incentives for alcohol used as a fuel shall be extended as part of any 
                      extension of fuel tax rates.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. EXTENSION OF INCENTIVES FOR ALCOHOL USED AS A FUEL.

    (a) Extension of Income Tax Credit.--Paragraph (1) of section 40(e) 
of the Internal Revenue Code of 1986 (relating to credit for alcohol 
used as fuel) is amended--
            (1) by striking ``2000'' and inserting ``2007 (or, if 
        later, the day before the date specified in section 
        4081(d)(1))'', and
            (2) by striking ``2001'' and inserting ``2008 (or, if 
        later, the day before the date specified in section 
        4081(d)(1))''.
    (b) Fuel Tax Rate Reductions.--
            (1) Subparagraph (C) of section (b)(2) of such Code is 
        amended by striking ``2000'' and inserting ``2007 (or, if 
        later, the day before the date specified in section 
        4081(d)(1))''.
            (2) Paragraph (3) of section 4041(k) of such Code is 
        amended by striking ``2000'' and inserting ``2007 (or, if 
        later, the day before the date specified in section 
        4081(d)(1))''.
            (3) Paragraph (8) of section 4081(c) of such Code is 
        amended by striking ``2000'' and inserting ``2007 (or, if 
        later, the day before the date specified in subsection 
        (d)(1))''.
            (4) Paragraph (5) of section 4091(c) is amended by striking 
        ``2000'' and inserting ``2007 (or, if later, the date specified 
        in subsection (b)(3)(A)(i))''.
    (c) Refunds.--Paragraph (4) of section 6427(f) of such Code is 
amended by striking ``1999'' and inserting ``2006 (or, if later, the 
day before the date specified in section 4081(d)(1))''.
    (d) Conforming Amendments to Tariff Schedule.--
            (1) Heading 9901.00.50 of the Harmonized Tariff Schedule of 
        the United States (19 U.S.C. 3007) is amended in the effective 
        period column by striking ``10/1/2000'' each place it appears 
        and inserting ``10/1/2007 (or, if later, the date specified in 
        section 4081(d)(1) of the Internal Revenue Code of 1986)''.
          (2) Heading 9901.00.52 of the Harmonized Tariff Schedule of 
        the United States is amended in the effective period column by 
        striking ``10/1/2000'' each place it appears and inserting 
        ``10/1/2007 (or, if later, the date specified in section 
        4081(d)(1) of the Internal Revenue Code of 1986)''.
    (e) Effective Date.--The amendments made by this section shall take 
effect on the date of the enactment of this Act.
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