This bill would change the Internal Revenue Code to extend an existing excise tax exemption for alternative motorboat fuel. It adds a sentence to section 4041(g) so the exemption also covers fuel sold or used by a vessel described in section 4042(c)(1) that is actually engaged in trade between Atlantic or Pacific ports of the United States, including territories and possessions. The amendment would apply to sales after December 31, 2023. The bill was introduced in the House and referred to the Committee on Ways and Means.
No publicly available information on budgetary or revenue effects is included in the bill text or metadata.
No publicly available information.
No publicly available information.