S.Amdt. 3475

SA 3475. Mr. CASSIDY (for himself and Mr. Bennet) submitted an
amendment intended to be proposed by him to the bill H.R. 636, to amend
the Internal Revenue Code of 1986 to permanently extend increased
expensing limitations, and for other purposes; which was ordered to lie
on the table; as follows:

At the appropriate place, insert the following:

SEC. ___. 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 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,
2016.
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