S.Amdt. 4918
What it does: Rewrites page 459, lines 1–7
Sen. Norm Coleman (R-MN)What it changes
1 change to S. 3036
Rewrites page 459, lines 1–7
ReplacesPrinted pageRemoves page 459, lines 1–7 of the printed bill. See that page
Inserted: SEC. 1403. DEPOSITS.
Inserted: Except as provided in section __01(b), the Administrator shall deposit all proceeds of auctions conducted pursuant to section 1402, immediately on receipt of those proceeds, in the Deficit Reduction Fund.
Inserted: SEC. 1404. DISBURSEMENTS FROM FUND.
Inserted: No disbursement shall be made from the Deficit Reduction Fund, except pursuant to an appropriation Act.
Inserted: TITLE __FUEL ASSISTANCE FUND
Inserted: SEC. __01. FUEL ASSISTANCE FUND.
Inserted: (a) In General.--There is established in the Treasury of the United States a fund, to be known as the "Fuel Assistance Fund".
Inserted: (b) Deposits.--The Administrator shall deposit such proceeds of auctions conducted pursuant to section 1402 as may be necessary to provide sufficient funds for the purposes of subsection (c).
Inserted: (c) Disbursements.--The Administrator shall, without further appropriation, transfer such funds from the Fuel Assistance Fund to the Highway Trust Fund and the Airport and Airways Trust Fund as are necessary to equal the reduction in revenues transferred to such Trust Funds resulting from the operation of section __02.
Inserted: SEC. __02. RATE REDUCTION IN FEDERAL MOTOR FUEL EXCISE TAXES EQUIVALENT TO INCREASE IN MOTOR FUEL PRICES RESULTING FROM THIS ACT.
Inserted: The Administrator of the Energy Information Administration shall determine and report to the Secretary of the Treasury on a quarterly basis any necessary reduction in the rates of tax under sections 4041 and 4081 of the Internal Revenue Code of 1986 equivalent to the estimated increase in prices in the motor fuels subject to such rates of tax resulting from the operation of this Act for such quarter. Notwithstanding any other provision of the Internal Revenue Code of 1986, the Secretary of the Treasury shall by regulation provide for such quarterly reductions through the use of floor stock refunds and floor stock taxes.
Original wording
On page 459, strike lines 1 through 7 and insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 4918. Mr. COLEMAN submitted an amendment intended to be proposed by him to the bill S. 3036, to direct the Administrator of the Environmental Protection Agency to establish a program to decrease emissions of greenhouse gases, and for other purposes; which was ordered to lie on the table; as follows:
On page 459, strike lines 1 through 7 and insert the following:
SEC. 1403. DEPOSITS.
Except as provided in section __01(b), the Administrator shall deposit all proceeds of auctions conducted pursuant to section 1402, immediately on receipt of those proceeds, in the Deficit Reduction Fund.
SEC. 1404. DISBURSEMENTS FROM FUND.
No disbursement shall be made from the Deficit Reduction Fund, except pursuant to an appropriation Act.
TITLE __FUEL ASSISTANCE FUND
SEC. __01. FUEL ASSISTANCE FUND.
(a) In General.--There is established in the Treasury of the United States a fund, to be known as the “Fuel Assistance Fund”.
(b) Deposits.--The Administrator shall deposit such proceeds of auctions conducted pursuant to section 1402 as may be necessary to provide sufficient funds for the purposes of subsection (c).
(c) Disbursements.--The Administrator shall, without further appropriation, transfer such funds from the Fuel Assistance Fund to the Highway Trust Fund and the Airport and Airways Trust Fund as are necessary to equal the reduction in revenues transferred to such Trust Funds resulting from the operation of section __02.
SEC. __02. RATE REDUCTION IN FEDERAL MOTOR FUEL EXCISE TAXES EQUIVALENT TO INCREASE IN MOTOR FUEL PRICES RESULTING FROM THIS ACT.
The Administrator of the Energy Information Administration shall determine and report to the Secretary of the Treasury on a quarterly basis any necessary reduction in the rates of tax under sections 4041 and 4081 of the Internal Revenue Code of 1986 equivalent to the estimated increase in prices in the motor fuels subject to such rates of tax resulting from the operation of this Act for such quarter. Notwithstanding any other provision of the Internal Revenue Code of 1986, the Secretary of the Treasury shall by regulation provide for such quarterly reductions through the use of floor stock refunds and floor stock taxes.
Legislative Activity
Stay on top of the latest movement without scrolling through every action
Senate amendment submitted
June 5, 2008