Affordable Gas Price Act - Declares without force or effect all provisions of existing federal law that prohibit spending appropriated funds to conduct oil or natural gas leasing and preleasing activities for any area of the Outer Continental Shelf.
Revokes all existing withdrawals by the President under the authority of the Outer Continental Shelf Lands Act.
Amends the Alaska National Interest Lands Conservation Act to repeal: (1) the withdrawal of public lands within the Coastal Plain from entry or appropriation under federal mining or mineral leasing laws; and (2) the prohibition against the production, leasing, and development of oil and gas from the Arctic National Wildlife Refuge (ANWR).
Amends the National Environmental Policy Act of 1969 to shield from judicial review mandatory statements by certain federal officials regarding the environmental impact of federal actions upon the quality of the human environment.
Amends the Internal Revenue Code to: (1) set forth additional incentives for investment in oil refineries; (2) suspend the tax on highway motor fuels when retail gasoline exceeds a certain benchmark; and (3) increase mileage reimbursement rates.
Authorizes the President to extend normal trade relations treatment to the products of the Russian Federation and Kazakhstan.
[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1102 Introduced in House (IH)]
112th CONGRESS
1st Session
H. R. 1102
To reduce the price of gasoline by allowing for offshore drilling,
eliminating Federal obstacles to constructing refineries and providing
incentives for investment in refineries, suspending Federal fuel taxes
when gasoline prices reach a benchmark amount, and promoting free
trade.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 15, 2011
Mr. Paul introduced the following bill; which was referred to the
Committee on Ways and Means, and in addition to the Committee on
Natural Resources, for a period to be subsequently determined by the
Speaker, in each case for consideration of such provisions as fall
within the jurisdiction of the committee concerned
_______________________________________________________________________
A BILL
To reduce the price of gasoline by allowing for offshore drilling,
eliminating Federal obstacles to constructing refineries and providing
incentives for investment in refineries, suspending Federal fuel taxes
when gasoline prices reach a benchmark amount, and promoting free
trade.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
(a) Short Title.--This Act may be cited as the ``Affordable Gas
Price Act''.
(b) Table of Contents.--
Sec. 1. Short title; table of contents.
Sec. 2. Findings.
Sec. 3. Termination of restrictions on oil and natural gas development
on Federal lands.
Sec. 4. Limitation of suits under National Environmental Policy Act of
1969.
Sec. 5. Incentives for investment in oil refineries.
Sec. 6. Suspension of fuel taxes on highway motor fuels when weekly
United States retail gasoline prices exceed
benchmark.
Sec. 7. Increase in mileage reimbursement rates.
Sec. 8. Termination of application of title IV of the Trade Act of 1974
to the Russian Federation and Kazakhstan.
SEC. 2. FINDINGS.
Congress finds the following:
(1) High fuel costs retard economic growth and diminish the
quality of life for all Americans.
(2) The trucking industry is particularly hard hit by high
fuel prices.
(3) Attempts to address the issue of high gasoline costs by
increasing government involvement in the market through
measures such as price controls will only lead to shortages,
rationing, and a return of gasoline lines.
(4) The Federal regulations restricting drilling impose
prohibitive costs on the development of new sources of energy,
artificially inflating the price of gas.
(5) Federal gas taxes increase the price of oil thus
burdening American families, business, and truckers.
(6) Allowing private parties to delay, or even halt, the
construction of new refineries through litigation over the
National Environmental Protection Act's Environmental Impact
Statement requirement reduces the supply of gas thus raising
gas prices.
(7) The so-called Jackson-Vanik (``freedom-of-emigration'')
amendment (section 402 of the Trade Act of 1974) was a United
States reaction to the Soviet Union's highly restrictive
emigration policy of the time.
(8) By 2005, some 15 years after the end of communist rule
over the Soviet Union, successor states Russia and Kazakhstan
allow their citizens the right and opportunity to emigrate,
free of any heavy tax on the visas or other documents required
for emigration and free of any other tax, levy, fine, fee, or
other charge on any citizens as a consequence of the desire of
such citizens to emigrate to the country of their choice.
(9) Elimination of the Jackson-Vanik amendment's threat of
trade-restricting provisions would increase the United States
access to oil supplies from non-Arab countries, thus lowering
gas prices.
SEC. 3. TERMINATION OF RESTRICTIONS ON OIL AND NATURAL GAS DEVELOPMENT
ON FEDERAL LANDS.
(a) Outer Continental Shelf.--
(1) Termination of laws prohibiting expenditures for
natural gas leasing and preleasing activities.--All provisions
of existing Federal law prohibiting the spending of
appropriated funds to conduct oil or natural gas leasing and
preleasing activities for any area of the Outer Continental
Shelf shall have no force or effect.
(2) Revocation of existing presidential withdrawals.--All
existing withdrawals by the President under the authority of
section 12 of the Outer Continental Shelf Lands Act (43 U.S.C.
1341) are hereby revoked and are no longer in effect with
respect to the leasing of areas for exploration for, and
development and production of, oil or natural gas.
(b) Coastal Plain of Alaska.--Sections 1002(i) and 1003 of the
Alaska National Interest Lands Conservation Act (16 U.S.C. 3142(i) and
3143) are repealed.
SEC. 4. LIMITATION OF SUITS UNDER NATIONAL ENVIRONMENTAL POLICY ACT OF
1969.
Section 102 of the National Environmental Policy Act of 1969 (42
U.S.C. 4332) is amended by inserting ``(a) In General.--'' before the
first sentence, and by adding at the end the following:
``(b) Limitation on Suits.--A statement required under subsection
(a)(2)(C) is not subject to judicial review.''.
SEC. 5. INCENTIVES FOR INVESTMENT IN OIL REFINERIES.
(a) Increase of Expensing for Refineries.--Subsection (a) of
section 179C of the Internal Revenue Code of 1986 (relating to election
to expense certain refineries) is amended by striking ``50 percent''
and inserting ``100 percent''.
(b) Class Life for Refineries.--
(1) In general.--Subparagraph (B) of section 168(e)(3) of
the Internal Revenue Code of 1986 (relating to 5-year property)
is amended by striking ``and'' at the end of clause (vi), by
striking the period at the end of clause (vii) and inserting
``, and'', and by inserting after clause (vii) the following
new clause:
``(viii) any petroleum refining
property.''.
(2) Petroleum refining asset.--Section 168(i) of such Code
is amended by adding at the end the following new paragraph:
``(20) Petroleum refining property.--
``(A) In general.--The term `petroleum refining
property' means any asset for petroleum refining,
including assets used for the distillation,
fractionation, and catalytic cracking of crude
petroleum into gasoline and its other components.
``(B) Asset must meet environmental laws.--Such
term shall not include any asset which does not meet
all applicable environmental laws in effect on the date
such asset was placed in service. For purposes of the
preceding sentence, a waiver under the Clean Air Act
shall not be taken into account in determining whether
the applicable environmental laws have been met.
``(C) Special rule for mergers and acquisitions.--
Such term shall not include any asset with respect to
which a deduction was taken under subsection (e)(3)(B)
by any other taxpayer in any preceding year.''.
(3) Effective date.--
(A) In general.--The amendments made by this
subsection shall apply to refineries placed in service
after the date of the enactment of this Act.
(B) Exception.--The amendments made by this section
shall not apply to any refinery with respect to which
the taxpayer has entered into a binding contract for
the construction thereof on or before the date of the
enactment of this Act.
SEC. 6. SUSPENSION OF FUEL TAXES ON HIGHWAY MOTOR FUELS WHEN WEEKLY
UNITED STATES RETAIL GASOLINE PRICES EXCEED BENCHMARK.
(a) In General.--Section 4081 of the Internal Revenue Code of 1986
(relating to imposition of tax on motor and aviation fuels) is amended
by adding at the end the following new subsection:
``(f) Suspension of Highway Motor Fuel Taxes When Retail Gasoline
Exceeds Benchmark.--
``(1) In general.--During any suspension period, the tax
imposed by this section and section 4041 on highway motor fuel
shall be suspended.
``(2) Definitions and special rule.--For purposes of this
subsection--
``(A) Suspension period.--The term `suspension
period' means the period--
``(i) beginning on the date on which the
weekly United States retail gasoline price,
regular grade (as published by the Energy
Information Administration, Department of
Energy), inclusive of such tax, is greater than
$3.00 per gallon, and
``(ii) ending on the date on which such
price (as so published), without regard to this
subsection, does not exceed $3.00 per gallon.
``(B) Highway motor fuel.--The term `highway motor
fuel' means any fuel subject to tax under this section
or section 4041 other than aviation gasoline and
aviation-grade kerosene.''.
(b) Maintenance of Trust Funds Deposits; Amounts Appropriated to
Trust Funds Treated as Taxes.--
(1) In general.--There is hereby appropriated (out of any
money in the Treasury not otherwise appropriated) to each trust
fund which would (but for this subsection) receive reduced
revenues as a result of a suspension in a rate of tax by reason
of section 4081(f) of the Internal Revenue Code of 1986 (as
added by this section) an amount equal to such reduction in
revenues. Amounts appropriated by the preceding sentence to any
trust fund--
(A) shall be transferred from the general fund at
such times and in such manner as to replicate to the
extent possible the transfers which would have occurred
had such section 4081(f) not been enacted, and
(B) shall be treated for all purposes of Federal
law as taxes received under the appropriate section
referred to in such section 4081(f).
(c) Effective Date.--The amendment made by this section shall take
effect on the date of the enactment of this Act.
(d) Floor Stock Refunds.--
(1) In general.--If--
(A) before the tax suspension date, tax has been
imposed under section 4081 of the Internal Revenue Code
of 1986 on any highway motor fuel, and
(B) on such date such fuel is held by a dealer and
has not been used and is intended for sale,
there shall be credited or refunded (without interest) to the
person who paid such tax (hereafter in this subsection referred
to as the ``taxpayer'') an amount equal to the excess of the
tax paid by the taxpayer over the tax which would be imposed on
such fuel had the taxable event occurred on such date.
(2) Time for filing claims.--No credit or refund shall be
allowed or made under this subsection unless--
(A) claim therefor is filed with the Secretary of
the Treasury before the date which is 6 months after
the tax suspension date based on a request submitted to
the taxpayer before the date which is 3 months after
the tax suspension date by the dealer who held the
highway motor fuel on such date, and
(B) the taxpayer has repaid or agreed to repay the
amount so claimed to such dealer or has obtained the
written consent of such dealer to the allowance of the
credit or the making of the refund.
(3) Exception for fuel held in retail stocks.--No credit or
refund shall be allowed under this subsection with respect to
any highway motor fuel in retail stocks held at the place where
intended to be sold at retail.
(4) Definitions.--For purposes of this subsection--
(A) Tax suspension date.--The term ``tax suspension
date'' means the first day of any suspension period in
effect under section 4081(f) of the Internal Revenue
Code of 1986 (as added by subsection (a) of this
section).
(B) Other terms.--The terms ``dealer'' and ``held
by a dealer'' have the respective meanings given to
such terms by section 6412 of such Code.
(5) Certain rules to apply.--Rules similar to the rules of
subsections (b) and (c) of section 6412 of such Code shall
apply for purposes of this subsection.
(e) Floor Stocks Tax.--
(1) Imposition of tax.--In the case of any highway motor
fuel which is held on the tax restoration date by any person,
there is hereby imposed a floor stocks tax equal to the excess
of the tax which would be imposed on such fuel had the taxable
event occurred on such date over the tax (if any) previously
paid (and not credited or refunded) on such fuel.
(2) Liability for tax and method of payment.--
(A) Liability for tax.--The person holding highway
motor fuel on the tax restoration date to which the tax
imposed by paragraph (1) applies shall be liable for
such tax.
(B) Method of payment.--The tax imposed by
paragraph (1) shall be paid in such manner as the
Secretary shall prescribe.
(C) Time for payment.--The tax imposed by paragraph
(1) shall be paid on or before the 45th day after the
tax restoration date.
(3) Definitions.--For purposes of this subsection--
(A) Tax restoration date.--The term ``tax
restoration date'' means the first day after the
suspension period (as defined in section 4081(f) of the
Internal Revenue Code of 1986).
(B) Highway motor fuel.--The term ``highway motor
fuel'' has the meaning given to such term by section
4081(f) of such Code.
(C) Held by a person.--A highway motor fuel shall
be considered as held by a person if title thereto has
passed to such person (whether or not delivery to the
person has been made).
(D) Secretary.--The term ``Secretary'' means the
Secretary of the Treasury or the Secretary's delegate.
(4) Exception for exempt uses.--The tax imposed by
paragraph (1) shall not apply to any highway motor fuel held by
any person exclusively for any use to the extent a credit or
refund of the tax is allowable for such use.
(5) Exception for certain amounts of fuel.--
(A) In general.--No tax shall be imposed by
paragraph (1) on any highway motor fuel held on the tax
restoration date by any person if the aggregate amount
of such highway motor fuel held by such person on such
date does not exceed 2,000 gallons. The preceding
sentence shall apply only if such person submits to the
Secretary (at the time and in the manner required by
the Secretary) such information as the Secretary shall
require for purposes of this subparagraph.
(B) Exempt fuel.--For purposes of subparagraph (A),
there shall not be taken into account any highway motor
fuel held by any person which is exempt from the tax
imposed by paragraph (1) by reason of paragraph (4).
(C) Controlled groups.--For purposes of this
subsection--
(i) Corporations.--
(I) In general.--All persons
treated as a controlled group shall be
treated as 1 person.
(II) Controlled group.--The term
``controlled group'' has the meaning
given to such term by subsection (a) of
section 1563 of such Code; except that
for such purposes the phrase ``more
than 50 percent'' shall be substituted
for the phrase ``at least 80 percent''
each place it appears in such
subsection.
(ii) Nonincorporated persons under common
control.--Under regulations prescribed by the
Secretary, principles similar to the principles
of subparagraph (A) shall apply to a group of
persons under common control if 1 or more of
such persons is not a corporation.
(6) Other laws applicable.--All provisions of law,
including penalties, applicable with respect to the taxes
imposed by section 4081 of such Code shall, insofar as
applicable and not inconsistent with the provisions of this
subsection, apply with respect to the floor stock taxes imposed
by paragraph (1) to the same extent as if such taxes were
imposed by such section.
SEC. 7. INCREASE IN MILEAGE REIMBURSEMENT RATES.
(a) Business.--For purposes of the Internal Revenue Code of 1986,
after the date of the enactment of this Act, the optional standard
mileage rates to be used for computing the deductible costs of
operating an automobile for business purposes shall be not less than 70
cents per mile.
(b) Medical, Moving, and Charitable Contribution Rates.--For any
day during the period under which highway motor fuel taxes are
suspended under section 4081(f) of the Internal Revenue Code of 1986--
(1) the optional standard mileage rates to be used for
computing the deductible costs of operating an automobile for
medical, moving, and charitable purposes shall be the same rate
which is in effect for such day for business purposes, and
(2) the rate under section 170(i) shall not apply.
SEC. 8. TERMINATION OF APPLICATION OF TITLE IV OF THE TRADE ACT OF 1974
TO THE RUSSIAN FEDERATION AND KAZAKHSTAN.
(a) Presidential Determinations and Extensions of Nondiscriminatory
Treatment.--Notwithstanding any provision of title IV of the Trade Act
of 1974 (19 U.S.C. 2431 et seq.), the President may--
(1) determine that such title should no longer apply to
both the Russian Federation and Kazakhstan; and
(2) after making a determination under paragraph (1) with
respect to the Russian Federation and Kazakhstan, proclaim the
extension of nondiscriminatory treatment (normal trade
relations treatment) to the products of those countries.
(b) Termination of Application of Title IV.--On and after the
effective date of the extension under subsection (a)(2) of
nondiscriminatory treatment to the products of the Russian Federation
and Kazakhstan, title IV of the Trade Act of 1974 shall cease to apply
to those countries.
<all>
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E487-488)
Referred to the Committee on Ways and Means, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Energy and Mineral Resources.
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