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House Bill 3431
115th Congress(2017-2018)
To amend the Internal Revenue Code of 1986 to allow the volumetric excise tax credit for liquid fuel derived from natural gas through the Fischer-Tropsch process.
Introduced
Introduced
Introduced in House on Jul 26, 2017
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Introduced in House 
Jul 26, 2017
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Introduced in House(Jul 26, 2017)
Jul 26, 2017
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H. R. 3431 (Introduced-in-House)


115th CONGRESS
1st Session
H. R. 3431


To amend the Internal Revenue Code of 1986 to allow the volumetric excise tax credit for liquid fuel derived from natural gas through the Fischer-Tropsch process.

IN THE HOUSE OF REPRESENTATIVES

July 26, 2017

Mr. Higgins of Louisiana (for himself, Mr. Graves of Louisiana, and Mr. Abraham) 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 allow the volumetric excise tax credit for liquid fuel derived from natural gas through the Fischer-Tropsch process.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Volumetric excise tax credit for liquid fuel derived from natural gas through Fischer-Tropsch process.

(a) In general.—Section 6426(d)(2)(E) of the Internal Revenue Code of 1986 is amended—

(1) by inserting “or” at the end;

(2) by striking “liquid fuel which meets” and inserting the following: “liquid fuel which—

“(i) meets”; and

(3) by adding at the end, as amended by the preceding provisions of this section, the following new clause:

“(ii) is derived from natural gas through such process,”.

(b) Effective date.—The amendments made by this section shall apply to any sale or use for any period after the date of the enactment of this Act.