Page:United States Statutes at Large Volume 102 Part 4.djvu/626

 102 STAT. 3596

Effective date. 26 USC 4091 note. 26 USC 6427 note.

PUBLIC LAW 100-647—NOV. 10, 1988 inserting "and by substituting '% cent' for '0,1 cent' " before "in the case of the removal". (B) The last sentence of section 4081(c)(2) of the 1986 Code, as amended by such section 1703, is amended by striking out "5% cents a gallon" and inserting in lieu thereof "reduced by the amount of tax imposed (and not credited or refunded) on any prior removal or sale of such fuel". (6)(A) Paragraph (1) of section 4091(c) of the 1986 Code is amended by adding at the end thereof the following new sentence: "In the case of a sale described in subparagraph (B), the Leaking Underground Storage Tank Trust Fund financing rate shall be % cent per gallon." (B) Paragraph (4) of section 4091(b) of the 1986 Code is amended by inserting "except as provided in subsection (c)," after "paragraph (1),". (C) The last sentence of section 4091(c)(2) of the 1986 Code is amended by striking out "5 cents a gallon" and inserting in lieu thereof "reduced by the amount of tax imposed (and not credited or refunded) on any prior sale of such fuel". (D) The amendments made by this paragraph shall take effect as if included in the amendments made by section 10502 of the Revenue Act of 1987. (7)(A) The amendment made by section 10502(c)(4) of the Revenue Act of 1987 shall be treated as if included in the amendments made by section 1703 of the Reform Act except that references to section 4091 of the Internal Revenue Code of 1986 shall not apply to sales before April 1, 1988. (B) Subparagraph (A) of section 6427(f)(l) of the 1986 Code is amended— (i) by striking out "r^ular Highway Trust Fund financing rate" each place it appears and inserting in lieu thereof "regular tax rate", and (Li) by striking out "incentive Highway Trust Fund financing rate" and inserting in lieu thereof "incentive tax rate". (C) Subparagraph (B) of section 6427(g)(l) of the 1986 Code is amended to read as follows: "(B) DEFINITIONS.—For purposes of subparagraph (A)— "(i) REGULAR TAX RATE.—The term 'r^ular tax rate' means— " D in the case of gasoline, the aggr^ate rate of O tax imposed by section 4081 determined without r^ard to subsection (c) thereof, and "(II) in the case of diesel fuel, the aggr^ate rate of tax imposed by section 4091 on such fuel determined without regard to subsection (c) thereof, "(ii) INCENTIVE TAX RATE.—The term 'incentive tax rate' means— "(I) in the case of gasoline, the aggr^ate rate of tax imposed by section 4081 with respect to fuel described in subsection (c)(1) thereof, and "(II) in the case of diesel fuel, the aggr^ate rate of tax imposed by section 4091 with respect to fuel described in subsection (c)(l)(B) thereof.' (D) Paragraph (2) of section 6427(1) of the 1986 Code is amended by inserting "under section 4041" after "exempt".

�