110 HR 5986 IH: Diesel Fuel Tax U.S. House of Representatives 2008-05-07 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. 5986 IN THE HOUSE OF REPRESENTATIVES May 7, 2008 Mr. Burgess 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 immediately terminate the excise tax on diesel fuel and the tax credits for ethanol and other alcohol fuels.

1.

Short title

This Act may be cited as the Diesel Fuel Tax Relief Act of 2008.

2.

Immediate termination of excise tax on diesel fuel

(a)

In general

Subsection (a) of section 4083 of the Internal Revenue Code of 1986 (relating to taxable fuel) is amended by striking subparagraph (B) and inserting and at the end of subparagraph (A). (b)

Exemption from special fuels tax

Section 4041 of such Code is amended by adding at the end the following new subsection: (n)

Exemption for diesel fuel

No tax shall be imposed under this section on any diesel fuel (as defined in section 4083(a)). . (c)

Conforming amendments

(1)Section 4041 of such Code is amended— (A)by striking paragraph (1) of subsection (a), (B)by striking all that follows section 6421(e)(2) in subsection (b)(1)(C) and inserting a period, (C)by striking paragraph (3) of subsection (d), and (D)by striking Diesel fuel and special in the heading of subsection (a) and inserting Special. (2)Section 4081 of such Code is amended— (A)by striking diesel fuel or in subsection (a)(2)(a)(iii), (B)by striking subparagraph (D) in subsection (a)(2), and (C)by striking subsection (c). (3)Section 4082 of such Code is amended— (A)by striking diesel fuel and each place it appears in the heading and text thereof, and (B)by striking , diesel fuel, in subsection (d)(1)(A) thereof. (4)Section 6427 of such Code is amended— (A)by striking diesel in the heading of subsection (b)(4), (B)by striking , diesel fuel, each place it appears in the heading and text of subsection (f), (C)by striking paragraph (2) of subsection (h), (D)in subsection (l)— (i)by striking diesel fuel and in the heading thereof, (ii)by striking diesel fuel or in paragraph (1), (iii)by striking paragraph (3), and (iv)by striking diesel fuel or each place it appears in the heading and text of paragraph (5), and (E)by striking subsection (m). (5)Section 6715(c)(1) of such Code is amended by striking diesel fuel or. (6)Section 7012(3) of such Code is amended by striking and diesel fuel. (7)Section 9503(b)(1) of such Code is amended— (A)by striking diesel fuels and in subparagraph (A), and (B)by striking , diesel fuel, in subparagraph (D). (8)Section 9508(b) of such Code is amended— (A)by striking , diesel fuel, in paragraph (2), and (B)by striking the flush sentence at the end. (d)

Effective date

The amendments made by this section shall apply to liquids removed, entered, or sold after the date of the enactment of this Act. (e)

Trust funds held harmless

The Secretary of the Treasury shall periodically transfer from the general fund of the Treasury to each of the trust funds established under chapter 98 of the Internal Revenue Code of 1986 amounts equal to the reduction in the appropriations or transfers to such trust fund which result by reason of the amendments made by this Act.

3.

Immediate termination of excise and income tax credits for ethanol and other alcohol fuels

(a)

Termination of excise tax credit

Sections 6426(b)(5) and 6427(e)(5)(A) of the Internal Revenue Code of 1986 are each amended by striking December 31, 2010 and inserting the date of the enactment of the Diesel Fuel Tax Relief Act of 2008. (b)

Termination of income tax credit

Paragraph (1) of section 40(e) of the Internal Revenue Code of 1986 is amended by striking any sale or use— and all that follows and inserting any sale or use for any period after the date of the enactment of the Diesel Fuel Tax Relief Act of 2008.