S 1931 · 98th Congress · Taxation

Renewable Fuels Tax Incentives Act

Introduced 1983-10-06· Sponsored by Sen. Durenberger, Dave [R-MN]· Senate

Bill Progress

Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Committee on Finance requested executive comment from OMB, Treasury Department.(1983-10-14)

Plain Language Summary

[AI summary unavailable — showing source text] Renewable Fuels Tax Incentives Act - Amends the Internal Revenue Code to increase the amount of the exemption from the excise tax on gasoline for gasoline mixed with alcohol. Extends such exemption to diesel fuels and special fuels which contain at least 10 percent alcohol. Increases from 50 cents per gallon to 90 cents per gallon the amount of the income tax credit for alcohol used as fuel. Amends the Tariff Schedules of the United States to increase the tariff on alcohol imported for use as a fuel from 50 cents per gallon to 90 cents per gallon. Provides for the transfer of certain windfall profit tax revenues to the Highway Trust Fund.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (13)

6 Democrats7 Republicans