Emergency Fuel Tax Act of 2000

Emergency Fuel Tax Act of 2000 - Allows a (temporary) tax deduction for Federal, State, and local motor fuel taxes.

[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[S. 2799 Introduced in Senate (IS)]







106th CONGRESS
  2d Session
                                S. 2799

 To allow a deduction for Federal, State, and local taxes on gasoline, 
diesel fuel, or other motor fuel purchased by consumers between July 1, 
                      2000, and December 31, 2000.


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                   IN THE SENATE OF THE UNITED STATES

                             June 27, 2000

 Mr. Murkowski (for himself, Mr. Abraham, anf Mr. Campbell) introduced 
the following bill; which was read twice and referred to the Committee 
                               on Finance

_______________________________________________________________________

                                 A BILL


 
 To allow a deduction for Federal, State, and local taxes on gasoline, 
diesel fuel, or other motor fuel purchased by consumers between July 1, 
                      2000, and December 31, 2000.

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

SECTION 1. SHORT TITLE.

     This Act may be cited as the ``Emergency Fuel Tax Act of 2000''.

SEC. 2. TEMPORARY INCOME TAX DEDUCTION FOR FEDERAL, STATE, AND LOCAL 
              FUELS TAXES.

    (a) Allowance of Deduction.--
            (1) In general.--In the case of the retail sale of 
        gasoline, diesel fuel, or other motor fuel after June 30, 2000, 
        and before January 1, 2001, there shall be allowed to the 
        purchaser a deduction under section 164 of the Internal Revenue 
        Code of 1986 in an amount equal to the Federal, State, and 
        local taxes on the sale.
            (2) Deduction allowed to nonitemizers.--The deduction under 
        subsection (a) shall be taken into account in computing 
        adjusted gross income under section 62 of such Code.
    (b) Taxes Imposed Other Than at Retail.--For purposes of subsection 
(a), any tax on any gasoline, diesel fuel, or other motor fuel which is 
imposed other than on the retail sale shall be treated as having been 
imposed on such sale and as having been paid by the purchaser.
    (c) Guidelines.--The Secretary of the Treasury shall establish such 
procedures (including the publication of tables where appropriate) as 
are necessary to enable taxpayers to determine the amount of taxes for 
which a deduction is allowed under subsection (a).
    (d) Motor Fuel.--For purposes of this section, the term ``motor 
fuel'' means any motor fuel subject to tax under subtitle D of the 
Internal Revenue Code of 1986.
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