I
112th CONGRESS
1st Session
H. R. 1188
IN THE HOUSE OF REPRESENTATIVES
March 17, 2011
Mr. Lance (for himself, Mr. Blumenauer, Mr. Flake, Mr. DeFazio, Mr. McClintock, Ms. Woolsey, and Mr. Hanna) 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 terminate incentives for alcohol fuels.
Short title
This Act may be cited as the
Repeal Ethanol Subsidies Today Act of
2011
.
Termination of incentives for alcohol fuels
Termination of excise tax credit for alcohol fuel mixtures
Sections 6426(b)(6)
and 6427(e)(6)(A) of the Internal Revenue Code of 1986 are each amended by
striking December 31, 2011
and inserting the date of the
enactment of the Repeal Ethanol Subsidies
Today Act of 2011
.
Termination of income tax credit for alcohol used as fuel
Paragraph (1) of section 40(e) of the
Internal Revenue Code of 1986 is amended by striking to any sale or
use—
and all that follows and inserting for any period after the
date of the enactment of the Repeal Ethanol
Subsidies Today Act of 2011
.
Elimination of reduced income tax credit for ethanol
The table contained in section 40(h)(2) of the Internal Revenue Code of 1986 is amended—
by striking
2011
and inserting the enactment date of the
Volumetric Ethanol Excise Tax Credit Repeal
Act
, and
by adding at the end the following:
| After such enactment date | zero | zero |
.
Effective Date
The amendments made by this section shall apply to any sale, use, or removal for any period after the date of the enactment of the Act.