I 112th CONGRESS 1st Session H. R. 1188 IN THE HOUSE OF REPRESENTATIVES March 17, 2011 Mr. Lance (for himself, Mr. Blumenauer, Mr. Flake, Mr. DeFazio, Mr. McClintock, Ms. Woolsey, and Mr. Hanna) 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 terminate incentives for alcohol fuels.

1.

Short title

This Act may be cited as the Repeal Ethanol Subsidies Today Act of 2011.

2.

Termination of incentives for alcohol fuels

(a)

Termination of excise tax credit for alcohol fuel mixtures

Sections 6426(b)(6) and 6427(e)(6)(A) of the Internal Revenue Code of 1986 are each amended by striking December 31, 2011 and inserting the date of the enactment of the Repeal Ethanol Subsidies Today Act of 2011. (b)

Termination of income tax credit for alcohol used as fuel

Paragraph (1) of section 40(e) of the Internal Revenue Code of 1986 is amended by striking to any sale or use— and all that follows and inserting for any period after the date of the enactment of the Repeal Ethanol Subsidies Today Act of 2011. (c)

Elimination of reduced income tax credit for ethanol

The table contained in section 40(h)(2) of the Internal Revenue Code of 1986 is amended— (1)by striking 2011 and inserting the enactment date of the Volumetric Ethanol Excise Tax Credit Repeal Act, and (2)by adding at the end the following: After such enactment datezerozero . (d)

Effective Date

The amendments made by this section shall apply to any sale, use, or removal for any period after the date of the enactment of the Act.