Aviation Fuel Tax Relief Act of 2002

Aviation Fuel Tax Relief Act of 2002 - Amends the Internal Revenue Code to reduce the tax on aviation fuel by 4.3 cents.

[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5660 Introduced in House (IH)]







107th CONGRESS
  2d Session
                                H. R. 5660

    To amend the Internal Revenue Code of 1986 to reduce the tax on 
                             aviation fuel.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 16, 2002

 Mr. Collins 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 reduce the tax on 
                             aviation fuel.

    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 ``Aviation Fuel Tax Relief Act of 
2002''.

SEC. 2. REPEAL OF 1993 INCREASES IN AVIATION FUEL TAXES.

    (a) In General.--Paragraph (1) of section 4091(b) of the Internal 
Revenue Code of 1986 is amended by striking ``21.8 cents'' and 
inserting ``17.5 cents''.
    (b) Technical Amendments.--
            (1) Subparagraph (A) of section 4091(b)(3) of such Code is 
        amended to read as follows:
                    ``(A) The rate of tax specified in paragraph (1) 
                shall be zero after September 30, 2007.''
            (2) Paragraph (1) of section 4091(c) of such Code is 
        amended--
                    (A) by striking ``14 cents'' and inserting ``9.7 
                cents'',
                    (B) by striking ``13.3 cents'' and inserting ``9 
                cents'',
                    (C) by striking ``13.2 cents'' and inserting ``8.9 
                cents'',
                    (D) by striking ``13.1 cents'' and inserting ``8.8 
                cents'', and
                    (E) by striking ``13.4 cents'' and inserting ``9.1 
                cents''.
            (3) Subsection (c) of section 4091 of such Code is amended 
        by striking paragraph (4), and by redesignating paragraph (5) 
        as paragraph (4).
            (4) Subsection (b) of section 4092 of such Code is amended 
        by striking ``attributable to'' and all that follows and 
        inserting ``attributable to the Leaking Underground Storage 
        Tank Trust Fund financing rate imposed by such section. For 
        purposes of the preceding sentence, the term `commercial 
        aviation' means any use of an aircraft other than in 
        noncommercial aviation (as defined in section 4041(c)(2)).''
            (5) Paragraph (4) of section 6427(l) of such Code is 
        amended by striking ``attributable to'' and all that follows 
        through the period and inserting ``attributable to the Leaking 
        Underground Storage Tank Trust Fund financing rate imposed by 
        such section.''
    (c) Effective Date.--The amendments 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 date of the enactment of this Act, 
                tax has been imposed under section 4091 of the Internal 
                Revenue Code of 1986 on any liquid, and
                    (B) on such date such liquid 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 an amount equal to the excess of the 
        tax paid by the taxpayer over the amount of such tax which 
        would be imposed on such liquid 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 date of the enactment of this Act, based on a 
                request submitted to the taxpayer before the date which 
                is 3 months after such date of enactment, by the dealer 
                who held the liquid on such date of enactment, 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 liquid in retail stocks held at the place where intended to 
        be sold at retail.
            (4) Definitions.--For purposes of this subsection, 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.
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