A bill to amend the Internal Revenue Code of 1954 to increase the amount of refund payable with respect to fuels used by local transit systems for commuter service.

[AI summary unavailable — showing source text] Increase the amount of refund payable quarterly under the Internal Revenue Code with respect to fuels used by local transit systems for commuter service to the product of: (1) the number of gallons of gasoline or diesel fuel so used, multiplied by four cents per gallon, multiplied by (2) the percentage which the ultimate purchaser's commuter fare revenue derived from such scheduled service during such quarter was of his total passenger fare revenue derived from such scheduled service during such quarter. (Amends 26 U.S.C. 6421(b)(1), 6427(b)(1))…