legislation: 102-hr-5649
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| 102-hr-5649 | 102 | hr | 5649 | To amend the Internal Revenue Code of 1986 to phaseout the occupational taxes relating to distilled spirits, wine, and beer and to impose the tax on diesel fuel in the same manner as the tax on gasoline. | Taxation | 1992-07-22 | 1992-08-04 | On motion to suspend the rules and pass the bill Failed by recorded vote (2/3 required): 200 - 207 (Roll no. 360). | House | Rep. Matsui, Robert T. [D-CA-3] | CA | D | M000249 | 0 | Title I: Phaseout of Occupational Taxes Relating to Distilled Spirits, Wine, and Beer - Amends the Internal Revenue Code to reduce the special occupational taxes on producers and dealers in distilled spirits, wine, and beer, effective on July 1, 1993, and to repeal such taxes, effective on July 1, 1994. Title II: Modifications to Tax on Diesel Fuel - Imposes an excise tax on diesel fuel (separate from the gasoline tax and the tax on aviation). Exempts from such tax diesel fuel: (1) used by trains and intercity, local, or school buses; and (2) which is dyed or marked in accordance in regulations prescribed by the Secretary of the Treasury. Provides that the Airport and Airway Trust Fund financing rate does not apply to aviation fuel sold by a producer or importer for use by the purchaser in a nontaxable use. Imposes a civil penalty on persons who use dyed fuel for a taxable use. Imposes a floor stocks tax on any person holding diesel fuel April 1, 1993. Authorizes grants to certain businesses having annual sales of less than 50,000,000 gallons of diesel fuel to defray the one-time costs of installing additional storage tanks to comply with the fuel dying requirements under this Act. | 2024-02-07T16:32:33Z |