119th CONGRESS 1st Session |
To amend the Internal Revenue Code of 1986 to extend the exemption from the excise tax on alternative motorboat fuels sold as supplies for vessels or aircraft to include certain vessels serving only one coast.
February 12, 2025
Ms. Murkowski (for herself, Ms. Hirono, and Mr. Sullivan) introduced the following bill; which was read twice and referred to the Committee on Finance
To amend the Internal Revenue Code of 1986 to extend the exemption from the excise tax on alternative motorboat fuels sold as supplies for vessels or aircraft to include certain vessels serving only one coast.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Maritime Fuel Tax Parity Act”.
SEC. 2. Exemption from excise tax on alternative motorboat fuels extended to include certain vessels serving only one coast.
(a) In general.—Section 4041(g) of the Internal Revenue Code of 1986 is amended by adding at the end the following new sentence: “For purposes of subsection (a)(2), the exemption under paragraph (1) shall also apply to fuel sold for use or used by a vessel which is both described in section 4042(c)(1) and actually engaged in trade between the Atlantic or Pacific ports of the United States (including any territory or possession of the United States).”.
(b) Effective date.—The amendment made by this section shall apply to fuel sold for use or used after December 31, 2025.