Page:United States Statutes at Large Volume 111 Part 1.djvu/700

 Ill STAT. 676 PUBLIC LAW 105-33—AUG. 5, 1997 (A) IN GENERAL.— Terms used in this subsection which are also used in section 5702 of the Internal Revenue Code of 1986 shall have the respective meanings such terms have in such section, as amended by this Act. (B) TAX INCREASE DATE. — The term "tax increase date" means January 1, 2000, and January 1, 2002. (C) SECRETARY.—The term "Secretary" means the Secretary of the Treasury or the Secretary's delegate. Applicability. (7) CONTROLLED GROUPS.—Rules similar to the rules of section 5061(e)(3) of such Code shall apply for purposes of this subsection. (8) OTHER LAWS APPLICABLE. — Al l provisions of law, including penalties, applicable with respect to the taxes imposed by section 5701 of such Code shall, insofar as applicable and not inconsistent with the provisions of this subsection, apply to the floor stocks taxes imposed by paragraph (1), to the same extent as if such taxes were imposed by such section 5701. The Secretary may treat any person who bore the ultimate burden of the tax imposed by paragraph (1) as the person to whom a credit or refund under such provisions may be allowed or made. SEC. 9303. LEASE OF EXCESS STRATEGIC PETROLEUM RESERVE CAPACITY. (a) AMENDMENT. —Part B of title I of the Energy Policy and Conservation Act (42 U.S.C. 6231 et seq.) is amended by adding at the end the following: 42 USC 6247a. "USE OF UNDERUTILIZED FACILITIES "SEC. 168. (a) AUTHORITY. —Notwithstanding any other provision of this title, the Secretary, by lease or otherwise, for any term and under such other conditions as the Secretary considers necessary or appropriate, may store in underutilized Strategic Petroleum Reserve facilities petroleum product owned by a foreign government or its representative. Petroleum products stored under this section are not part of the Strategic Petroleum Reserve and may be exported without license from the United States. "(b) PROTECTION OF FACILITIES.—A l l agreements entered into pursuant to subsection (a) shall contain provisions providing for fees to fully compensate the United States for all related costs of storage and removals of petroleum products (including the proportionate cost of replacement facilities necessitated as a result of any withdrawals) incurred by the United States on behalf of the foreign government or its representative. (c) ACCESS TO STORED OIL. — The Secretary shall ensure that agreements to store petroleum products for foreign governments or their representatives do not impair the ability of the United States to withdraw, distribute, or sell petroleum products from the Strategic Petroleum Reserve in response to an energy emergency or to the obligations of the United States under the Agreement on an International Energy Program. "(d) AVAILABILITY OF FUNDS.— Funds collected through the leasing of Strategic Petroleum Reserve facilities authorized by subsection (a) after September 30, 2007, shall be used by the Secretary of Energy without further appropriation for the purchase of petroleum products for the Strategic Petroleum Reserve.".

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