110 HR 5713 IH: Splash and Dash Correction Act of U.S. House of Representatives 2008-04-04 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
I 110th CONGRESS 2d Session H. R. 5713 IN THE HOUSE OF REPRESENTATIVES April 4, 2008 Mr. Shadegg introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to clarify the eligibility for certain fuels credits for fuel with insufficient nexus to the United States.
1.
Short title
This Act may be cited as the Splash and Dash Correction Act of 2008.
2.
Statement of Constitutional Authority
The Congress enacts this Act pursuant to clause 1 of section 8 of Article I of the United States Constitution and Amendment XVI of the United States Constitution.
3.
Clarification of eligibility for certain fuels credits for fuel with insufficient nexus to the United States
(a)
In general
(1)
Alcohol credit
Subsection (d) of section 40 of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (6)
Limitation to alcohol with connection to the United States
(A)
Alcohol credit
No alcohol credit shall be determined under this section with respect to any alcohol unless such alcohol is produced in the United States for consumption in the United States or entered into the United States for consumption in the United States. (B)
Alcohol mixture credit
No alcohol mixture credit shall be determined under this section with respect to any mixture unless such mixture is produced in the United States for consumption in the United States or entered into the United States for consumption in the United States. (C)
No credits for alcohol destined for export
No credit (other than the small ethanol producer credit) shall be determined under this section with respect to any mixture or alcohol if such mixture or alcohol is destined for export from the United States (as determined by the Secretary). . (2)
Biodiesel credit
Subsection (d) of section 40A of such Code is amended by adding at the end the following new paragraph: (5)
Limitation to biodiesel with connection to the United States
(A)
Biodiesel credit
No biodiesel credit shall be determined under this section with respect to any biodiesel unless such biodiesel is produced in the United States for consumption in the United States or is entered into the United States for consumption in the United States. (B)
Biodiesel mixture credit
No biodiesel mixture credit shall be determined under this section with respect to any mixture unless such mixture is produced in the United States for consumption in the United States or is entered into the United States for consumption in the United States. (C)
No credits for biodiesel destined for export
No credit (other than the small agri-biodiesel producer credit) shall be determined under this section with respect to any mixture or biodiesel if such mixture or biodiesel is destined for export from the United States (as determined by the Secretary). . (3)
Excise tax credits
Section 6426 of such Code is amended by adding at the end the following new subsection: (h)
Limitation to fuels with connection to the United States
(1)
Mixture credits
No credit shall be determined under this section with respect to any mixture unless such mixture is produced in the United States for consumption in the United States or is entered into the United States for consumption in the United States. (2)
Alternative fuel credit
No alternative fuel credit shall be determined under this section with respect to any alternative fuel unless such alternative fuel is produced in the United States for consumption in the United States or is entered into the United States for consumption in the United States. (3)
No credits for fuels destined for export
No credit shall be determined under this section with respect to any mixture or alternative fuel if such mixture or alternative fuel is destined for export from the United States (as determined by the Secretary). . (4)
Payments
Subsection (e) of section 6427 of such Code is amended by redesignating paragraph (5) as paragraph (6) and by inserting after paragraph (4) the following new paragraph: (5)
Limitation to fuels with connection to the United States
No amount shall be payable under paragraph (1) or (2) with respect to any mixture or alternative fuel if credit is not allowed with respect to such mixture or alternative fuel by reason of section 6426(h). . (b)
Effective date
The amendments made by this section shall apply to fuel sold or used after the date of the enactment of this Act.