Page:United States Statutes at Large Volume 107 Part 1.djvu/555

 PUBLIC LAW 103-66 —AUG. 10, 1993 107 STAT. 529 SEC. 18248. FLOOR STOCKS TAIL 26 USC 4081 (a) IN GENERAL.—There is hereby imposed a floor stocks tax on diesel fuel held by any person on January 1, 1994, if— (1) no tax was imposed on such fuel under section 4041(a) or 4091 of the Internal Revenue Code of 1986 as in effect on December 31, 1993, and (2) tax would have been imposed by section 4081 of such Code, as amended by this Act, on any prior removal, entry, or sale of such fuel had such section 4081 applied to such fuel for periods before January 1, 1994. (b) RATE OF TAX. —The rate of the tax imposed by subsection (a) shall be the amount of tax which would be imposed under section 4081 of the Internal Revenue Code of 1986 if there were a taxable sale of such fuel on such date. (c) LIABILITY AND PAYMENT OF TAX.— (1) LIABILITY FOR TAX.— A person holding the diesel fuel on January 1, 1994, to which the tax imposed by this section applies shall be liable for such tax. (2) METHOD OF PAYMENT.— The tax imposed by this section shall be paid in such manner as the Secretary shall prescribe. (3) TIME FOR PAYMENT. — The tax imposed by this section shall be paid on or before July 31, 1994. (d) DEFINITIONS.— For purposes of this section— (1) DIESEL FUEL.—The term "diesel fuel" has the meaning given such term by section 4083(a) of such Code. (2) SECRETARY. — The term "Secretary" means the Secretary of the Treasury or his delegate. (e) EXCEPTIONS. — (1) PERSONS ENTITLED TO CREDIT OR REFUND.—The tax imposed by this section shall not apply to fuel held by any person exclusively for any use to the extent a credit or refimd of the tax imposed by section 4081 is allowable for such use. (2) COMPLIANCE WITH DYEING REQUIRED.—Paragraph (1) shall not apply to the holder of any fuel if the holder of such fuel fails to comply with any requirement imposed by the Secretary with respect to dyeing and marking such fuel. (f) OTHER LAWS APPLICABLE.—Ail provisions of law, including penalties, applicable with respect to the taxes imposed by section 4081 of such Code shall, insofar as applicable and not inconsistent with the provisions of this section, apply with respect to the floor stock taxes imposed by this section to the same extent as if such taxes were imposed by such section 4081. Subpart C—Other Provisions SEC 13244. INCREASED DEPOSITS INTO MASS TRANSIT ACCOUNT. (a) IN GENERAL.— Paragraph (2) of section 9503(e) is amended by striking "1.5 cents" and inserting "2 cents". (b) EFFECTIVE DATE.—The amendment made by this section shall apply to amounts attributable to taxes imposed on or after October 1, 1995. SEC. 13245. FLOOR STOCKS TAX ON COMMERCIAL AVIATION FUEL 26 USC 4091 HELD ON OCTOBER 1, 1995. ^°^^- (a) IMPOSITION OF TAX. — In the case of commercial aviation fuel on which tax was imposed under section 4091 of the Internal Revenue Code of 1986 before October 1, 1995, and which is held 26 USC 9503. 26 USC 9503 note.

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