S.Amdt. 2978

SA 2978. Mr. CASSIDY (for himself and Mr. Bennet) submitted an
amendment intended to be proposed to amendment SA 2953 proposed by Ms.
Murkowski to the bill S. 2012, to provide for the modernization of the
energy policy of the United States, and for other purposes; which was
ordered to lie on the table; as follows:

At the end, insert the following:

TITLE VI--WATERWAY LNG PARITY ACT OF 2016

SEC. 6001. SHORT TITLE.

This title may be cited as the ``Waterway LNG Parity Act of
2016''.

SEC. 6002. LIQUEFIED NATURAL GAS EQUIVALENT FOR PURPOSES OF
INLAND WATERWAYS TRUST FUND FINANCING RATE.

(a) In General.--Section 4042(b)(2)(A) of the Internal
Revenue Code of 1986 is amended to read as follows:
``(A) The Inland Waterways Trust Fund financing rate is 29
cents per gallon (per energy equivalent of a gallon of
diesel, in the case of liquefied natural gas).''.
(b) Energy Equivalent of a Gallon of Diesel.--Section
4042(b) of the Internal Revenue Code of 1986 is amended by
adding at the end the following:
``(5) Energy equivalent of a gallon of diesel with respect
to liquefied natural

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gas.--For purposes of paragraph (2)(A), the term `energy
equivalent of a gallon of diesel' means 6.06 pounds of
liquefied natural gas.''.
(c) Effective Date.--The amendments made by this section
shall apply to any sale or use of fuel after December 31,
2015.
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