To amend the Internal Revenue Code of 1986 to extend the excise tax credits for certain liquid fuel derived from coal.

Amends the Internal Revenue Code to extend through 2020 excise tax credits and refunds for liquid fuels and mixtures derived from coal (including peat) through the Fischer-Tropsch process.

[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5453 Introduced in House (IH)]








109th CONGRESS
  2d Session
                                H. R. 5453

  To amend the Internal Revenue Code of 1986 to extend the excise tax 
           credits for certain liquid fuel derived from coal.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 23, 2006

  Mr. Shimkus (for himself, Mr. Boucher, Mr. Akin, Mr. Costello, Mrs. 
      Cubin, Mr. Rahall, Mr. Hunter, Mr. Skelton, Mr. English of 
Pennsylvania, and Mr. Pomeroy) introduced the following bill; which was 
              referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to extend the excise tax 
           credits for certain liquid fuel derived from coal.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. EXTENSION OF EXCISE TAX CREDITS FOR CERTAIN LIQUID FUEL 
              DERIVED FROM COAL.

    (a) Alternative Fuel Credit.--Paragraph (4) of section 6426(d) of 
the Internal Revenue Code of 1986 (relating to termination) is amended 
by inserting ``(December 31, 2020, in the case of any sale or use 
involving liquid fuel derived from coal which is described in paragraph 
(2)(E))'' before the period at the end.
    (b) Alternative Fuel Mixture Credit.--Paragraph (3) of section 
6426(e) of such Code (relating to termination) is amended by inserting 
``(December 31, 2020, in the case of any sale or use involving liquid 
fuel derived from coal which is described in subsection (d)(2)(E))'' 
before the period at the end.
    (c) Refundability of Credit.--Paragraph (5) of section 6427(e) of 
such Code (relating to termination) is amended--
            (1) by striking ``and'' at the end of subparagraph (C), by 
        striking the period at the end of subparagraph (D) and 
        inserting ``, and'', and by adding at the end the following new 
        subparagraph:
                    ``(E) any alternative fuel or alternative fuel 
                mixture (as so defined) involving liquid fuel derived 
                from coal which is described in section 6426(d)(2)(E) 
                sold or used after December 31, 2020.'', and
            (2) by inserting ``or (E)'' after ``subparagraph (D)'' in 
        subparagraph (C).
    (d) Effective Date.--The amendments made by this section shall 
apply to any sale or use for any period after September 30, 2006.
                                 <all>