Bill
Bill > HR3864
summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
112th Congress
Bill Summary
American Energy and Infrastructure Jobs Financing Act of 2012 - Amends the Internal Revenue Code to: (1) extend through September 30, 2016, the expenditure authority for the Highway Trust Fund; and (2) extend through September 30, 2018, current excise tax rates on motor fuels (i.e., gasoline, diesel fuel and kerosene, and special motor fuels), excise taxes on heavy highway vehicles and highway tires, and the use tax on heavy vehicles. Appropriates to the Highway Trust Fund amounts equivalent to the net increase in revenues from onshore and offshore domestic energy leasing and production resulting from the Alaskan Energy for American Jobs Act, the PIONEERS Act, and the Energy Security and Transportation Jobs Act. Terminates the authority for transfers of motor fuel tax revenues to the Mass Transit Account of the Highway Trust Fund. Renames such Account as the Alternative Transportation Account and makes a one-time appropriation to such Account.
AI Summary
This bill, the American Energy and Infrastructure Jobs Financing Act of 2012, extends the authority for spending from the Highway Trust Fund until September 30, 2016, and maintains current excise tax rates on motor fuels (like gasoline and diesel), heavy highway vehicles, and tires, as well as the use tax on heavy vehicles, until September 30, 2018. It also directs funds equivalent to the increased revenue from domestic energy leasing and production, as established by other related acts, into the Highway Trust Fund. Notably, the bill terminates the transfer of motor fuel tax revenues to the Mass Transit Account of the Highway Trust Fund, renames this account the Alternative Transportation Account, and provides a one-time appropriation of $40 billion to it.
Committee Categories
Budget and Finance, Transportation and Infrastructure
Sponsors (1)
Last Action
Placed on the Union Calendar, Calendar No. 276. (on 02/09/2012)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/112th-congress/house-bill/3864/all-info |
| Bill | http://gpo.gov/fdsys/pkg/BILLS-112hr3864ih/pdf/BILLS-112hr3864ih.pdf.pdf |
| Bill | http://gpo.gov/fdsys/pkg/BILLS-112hr3864rh/pdf/BILLS-112hr3864rh.pdf.pdf |
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