S 1931
98th Congress
Senate
Taxation
Alcohol and Alcoholic Beverages
Alcohol as fuel
Department of the Treasury
Excess profits tax
Excise tax
Foreign Trade and Investments
Government trust funds
Imports
Income tax
Tariff
Tax credits
Tax exemption
Renewable Fuels Tax Incentives Act
Introduced: October 6, 1983
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 14, 1983
Committee on Finance requested executive comment from OMB, Treasury Department.
Oct 6, 1983
Read twice and referred to the Committee on Finance.
Oct 6, 1983
Introduced in Senate
Plain-English summary
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.
What's happening now
Committee on Finance requested executive comment from OMB, Treasury Department.
Committees of jurisdiction
1
Cosponsors
1