Bill > S1111

This bill amends the Internal Revenue Code to establish a new mechanism for providing tax payments to individuals who remove certain dyed diesel fuel or kerosene from terminals. Specifically, the bill allows the Secretary of the Treasury to pay a person an amount equal to a previously paid tax if they remove eligible indelibly dyed diesel fuel or kerosene from a terminal. To qualify, the fuel must have had a tax previously paid under section 4081 (which relates to fuel taxes) and be exempt from taxation under section 4082(a) (which covers tax-exempt uses of fuel). The bill adds civil penalties for excessive claims and makes conforming amendments to various sections of the tax code to incorporate this new provision. The amendments will apply to eligible dyed diesel fuel or kerosene removed 180 days after the enactment of the bill, providing a transition period for implementation. This legislation appears designed to provide a tax refund mechanism for certain fuel users who meet specific criteria related to dyed, tax-exempt fuel.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/1111/all-info