[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 917 Placed on Calendar Senate (PCS)]

                                                        Calendar No. 50
114th CONGRESS
  1st Session
                                 S. 917

                          [Report No. 114-27]

 To amend the Internal Revenue Code of 1986 to equalize the excise tax 
         on liquified petroleum gas and liquified natural gas.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             April 14, 2015

   Mr. Hatch, from the Committee on Finance, reported the following 
     original bill; which was read twice and placed on the calendar

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to equalize the excise tax 
         on liquified petroleum gas and liquified natural gas.

    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 ``LNG and LPG Excise Tax Equalization 
Act of 2015''.

SEC. 2. EQUALIZATION OF EXCISE TAX ON LIQUEFIED PETROLEUM GAS AND 
              LIQUEFIED NATURAL GAS.

    (a) Liquefied Petroleum Gas.--
            (1) In general.--Subparagraph (B) of section 4041(a)(2) of 
        the Internal Revenue Code of 1986 is amended by striking 
        ``and'' at the end of clause (i), by redesignating clause (ii) 
        as clause (iii), and by inserting after clause (i) the 
        following new clause:
                            ``(ii) in the case of liquefied petroleum 
                        gas, 18.3 cents per energy equivalent of a 
                        gallon of gasoline, and''.
            (2) Energy equivalent of a gallon of gasoline.--Paragraph 
        (2) of section 4041(a) of such Code is amended by adding at the 
        end the following:
                    ``(C) Energy equivalent of a gallon of gasoline.--
                For purposes of this paragraph, the term energy 
                equivalent of a gallon of gasoline means, with respect 
                to a liquefied petroleum gas fuel, the amount of such 
                fuel having a Btu content of 115,400 (lower heating 
                value).''.
    (b) Liquefied Natural Gas.--
            (1) In general.--Subparagraph (B) of section 4041(a)(2) of 
        the Internal Revenue Code of 1986, as amended by subsection 
        (a)(1), is amended by striking ``and'' at the end of clause 
        (ii), by striking the period at the end of clause (iii) and 
        inserting ``, and'' and by inserting after clause (iii) the 
        following new clause:
                            ``(iv) in the case of liquefied natural 
                        gas, 24.3 cents per energy equivalent of a 
                        gallon of diesel.''.
            (2) Energy equivalent of a gallon of diesel.--Paragraph (2) 
        of section 4041(a) of such Code, as amended by subsection 
        (a)(2), is amended by adding at the end the following:
                    ``(D) Energy equivalent of a gallon of diesel.--For 
                purposes of this paragraph, the term energy equivalent 
                of a gallon of diesel means, with respect to a 
                liquefied natural gas fuel, the amount of such fuel 
                having a Btu content of 128,700 (lower heating 
                value).''.
            (3) Conforming amendments.--Section 4041(a)(2)(B)(iii) of 
        the Internal Revenue Code of 1986, as redesignated by 
        subsection (a)(1), is amended--
                    (A) by striking ``liquefied natural gas,'', and
                    (B) by striking ``peat), and'' and inserting 
                ``peat) and''.
    (c) Effective Date.--The amendments made by this section shall 
apply to fuel sold or used in calendar quarters beginning more than 60 
days after the date of the enactment of this Act.

SEC. 3. INCREASE IN CONTINUOUS LEVY.

    (a) In General.--Paragraph (3) of section 6331(h) of the Internal 
Revenue Code of 1986 is amended by striking ``30 percent'' and 
inserting ``35 percent''.
    (b) Effective Date.--The amendment made by this section shall apply 
to payments made after 180 days after the date of the enactment of this 
Act.
                                                        Calendar No. 50

114th CONGRESS

  1st Session

                                 S. 917

                          [Report No. 114-27]

_______________________________________________________________________

                                 A BILL

 To amend the Internal Revenue Code of 1986 to equalize the excise tax 
         on liquified petroleum gas and liquified natural gas.

_______________________________________________________________________

                             April 14, 2015

                 Read twice and placed on the calendar