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H.R. 1044: Maritime Fuel Tax Parity Act

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The text of the bill below is as of Feb 14, 2023 (Introduced).

I

118th CONGRESS

1st Session

H. R. 1044

IN THE HOUSE OF REPRESENTATIVES

February 14, 2023

(for himself and Mr. Garamendi) 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 exemption from the excise tax on alternative motorboat fuels sold as supplies for vessels or aircraft to include certain vessels serving only one coast.

1.

Short title

This Act may be cited as the Maritime Fuel Tax Parity Act.

2.

Exemption from excise tax on alternative motorboat fuels extended to include certain vessels serving only one coast

(a)

In general

Section 4041(g) of the Internal Revenue Code of 1986 is amended by adding at the end the following new sentence: For purposes of subsection (a)(2), the exemption under paragraph (1) shall also apply to fuel sold or used by a vessel which is both described in section 4042(c)(1) and actually engaged in trade between Atlantic (including the Gulf of Mexico) or Pacific ports of the United States (including any territory or possession of the United States)..

(b)

Effective date

The amendment made by this section shall apply to sales after December 31, 2021.