[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[S. 2161 Introduced in Senate (IS)]







106th CONGRESS
  2d Session
                                S. 2161

     To amend the Internal Revenue Code of 1986 to impose a 1 year 
   moratorium on certain diesel fuel excise taxes and to require the 
Secretary of the Treasury to transfer amounts to the Highway Trust Fund 
                        to cover any shortfall.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 2, 2000

   Mr. Campbell (for himself, Mr. Daschle, Mr. Craig, Mr. Biden, Mr. 
Bunning, Mr. Conrad, Ms. Landrieu, Mr. Kerrey, Mr. Gregg, Ms. Collins, 
  Mr. Hutchinson, and Mrs. Hutchison) 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 impose a 1 year 
   moratorium on certain diesel fuel excise taxes and to require the 
Secretary of the Treasury to transfer amounts to the Highway Trust Fund 
                        to cover any shortfall.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``American Transportation Recovery and 
Highway Trust Fund Protection Act of 2000''.

SEC. 2. 1 YEAR MORATORIUM ON CERTAIN DIESEL FUEL EXCISE TAXES.

    (a) In General.--Section 4081(d) of the Internal Revenue Code of 
1986 (relating to termination) is amended--
            (1) by redesignating paragraphs (2) and (3) as paragraphs 
        (3) and (4), respectively,
            (2) by inserting after paragraph (1) the following new 
        paragraph:
            ``(2) Diesel fuel.--The rate of tax specified in subsection 
        (a)(2)(A)(iii) with respect to diesel fuel shall be--
                    ``(A) zero during the 1 year period beginning on 
                the date of the enactment of this paragraph, and
                    ``(B) 4.3 cents per gallon after September 30, 
                2005.'', and
            (3) by striking ``clauses (i) and (iii) of subsection 
        (a)(2)(A)'' in paragraph (1) and inserting ``subsections 
        (a)(2)(A)(i) and (a)(2)(A)(iii) with respect to kerosene''.
    (b) Conforming Amendments.--
            (1) Subclause (I) of section 4041(a)(1)(C)(iii) of the 
        Internal Revenue Code of 1986 (relating to rate of tax on 
        certain buses) is amended by striking ``shall be 7.3 cents per 
        gallon (4.3 cents per gallon after September 30, 2005).'' and 
        inserting ``shall be--
                                            ``(aa) zero during the 1 
                                        year period beginning on the 
                                        date of the enactment of the 
                                        American Transportation 
                                        Recovery and Highway Trust Fund 
                                        Protection Act of 2000,
                                            ``(bb) 7.3 cents per gallon 
                                        after the end of the 1 year 
                                        period under item (aa), and 
                                        before October 1, 2005, and
                                            ``(cc) 4.3 cents per gallon 
                                        after September 30, 2005.''.
            (2) Section 4081(c)(6) of such Code is amended by inserting 
        ``(other than paragraph (5))'' after ``subsection''.
            (3) Section 6412(a)(1) of such Code is amended--
                    (A) by inserting ``(the date of the enactment of 
                the American Transportation Recovery and Highway Trust 
                Fund Protection Act of 2000, in the case of diesel 
                fuel)'' after ``October 1, 2005'' both places it 
                appears,
                    (B) by inserting ``(the date which is 6 months 
                after the date of the enactment of such Act, in the 
                case of diesel fuel) after ``March 31, 2006'' both 
                places it appears, and
                    (C) by inserting ``(the date which is 3 months 
                after the date of the enactment of such Act, in the 
                case of diesel fuel) after ``January 1, 2006''.
            (4) Section 6427(f)(4) of such Code is amended by inserting 
        ``(during the 1 year period beginning on the date of the 
        enactment of the American Transportation Recovery and Highway 
        Trust Fund Protection Act of 2000, in the case of diesel 
        fuel)'' after ``September 30, 2007''.
    (c) Effective Date.--
            (1) In general.--Except as provided in paragraph (2), the 
        amendments made by this section shall take effect on the date 
        of the enactment of this section.
            (2) Decrease in crude oil prices.--If the Secretary of 
        Treasury determines that the average refiner acquisition costs 
        for crude oil are equal to or less than such costs were on 
        December 31, 1999, the amendments made by this section shall 
        cease to take effect and the Internal Revenue Code shall be 
        administered as if such amendments did not take effect.

SEC. 3. TRANSFER OF AMOUNTS TO HIGHWAY TRUST FUND TO COVER SHORTFALL 
              DUE TO MORATORIUM.

    The Secretary of the Treasury shall from time to time transfer from 
the general fund, out of amounts not otherwise appropriated, to the 
Highway Trust Fund (established under section 9503 of the Internal 
Revenue Code of 1986) amounts equal to the amounts which the Secretary 
determines are not appropriated to such Fund as a result of the 
amendments made by section 2 of this Act.
                                 <all>