A bill to require disclosure by the Secretary of the Army, acting through the Chief of Engineers, of certain information relating to petroleum products transported on vessels to State taxing agencies requesting such information, and for other purposes.

Requires the Secretary of the Army to disclose petroleum product information (regarding petroleum transported by vessel) to any State taxing agency requesting such information for the purpose of State tax law administration.

Confines the disclosure of such information to State employees or legal representatives of a State taxing agency. Prescribes guidelines for such disclosure. Requires a requesting State to have laws in effect exempting such information from public disclosure and protecting its confidentiality.

Increases from $200 to $500 the penalty imposed on owners and agents of vessels plying Federal navigable waters who fail to furnish certain information requested by the Secretary of the Army.