Page:United States Statutes at Large Volume 94 Part 1.djvu/327

 PUBLIC LAW 96-223—APR. 2, 1980 "SEC. 86. ALCOHOL FUEL CREDIT.

94 STAT. 277 26 USC 86.

"Gross income includes an amount equal to the amount of the credit allowable to the taxpayer under section 44E for the taxable ^"^«' P- 273. year (determined without regard to subsection (e) thereof)." (2) TECHNICAL AMENDMENT.—Subparagraph (B) of section 55(b)(1) (defining alternative minimum taxable income) is 26 USC 55. amended by striking out "section 667" and inserting in lieu thereof "section 86 or 667". (3) CONFORMING AMENDMENT.—The table of sections for such part II is amended by inserting at the end thereof the following new item: "Sec. 86. Alcohol fuel credit." (d) REFUND OF TAX ON GASOLINE USED TO PRODUCE CERTAIN ALCOHOL FUELS.— (1) GENERAL RULE.—Section 6427 (relating to fuels not used for 26 USC 6427.

taxable purposes) is amended— (A) by redesignating subsections (f), (g), (h), (i), and 0') as subsections (g), (h), (i), (j), and (k), respectively; and (B) by inserting after subsection (e) the following new subsection: "(f) GASOLINE USED TO PRODUCE CERTAIN ALCOHOL FUELS.—

"(1) IN GENERAL.—Except as provided in subsection (i), if any gasoline on which tax is imposed by section 4081 is used by any 26 USC 4081. person in producing a mixture described in section 4081(c) which Ante, pp. 273, is sold or used in such person's trade or business, the Secretary f^%^ Infra. shall pay (without interest) to such person an amount equal to the aggregate amount of the tax imposed on such geisoline. The preceding sentence shall not apply with respect to any mixture sold or used after December 31, 1992. "(2) COORDINATION WITH OTHER REPAYMENT PROVISIONS.—No

amount shall be payable under subsection (d) or (e) of this section or under section 6420 or 6421 with respect to any gasoline with 26 USC 6420, respect to which an amount is payable under paragraph (1)." ^'*^^(2) QUARTERLY REFUND ALLOWED WHERE $200 OR MORE IS PAYABLE.—

(A) Subparagraph (A) of section 6427(g)(2) (as redesignated 26 USC 6427. by paragraph (1)) is amended by striking out "or" at the end of clause (i), by inserting "or" at the end of clause (ii), and by inserting after clause (ii) the following new clause: "(iii) $200 or more is payable under subsection (f),". (B) Subparagraph (B) of section 6427(g)(2) (as redesignated by paragraph (1)) is amended to read as follows: "(B) SPECIAL RULE.—If the requirements of clause (ii) or clause (iii) of s u b p a r s ^ a p h (A) are met by any person for any quarter but the requirements of subparagraph (A)(i) are not met by such person for such quarter, such person may file a claim under subparagraph (A) for such quarter only with respect to amounts referred to in the clause (or clauses) of subparagraph (A) the requirements of which are met by such person for such quarter. (3) TREATMENT OF SUBSEQUENT SEPARATION.—Paragraph (2) of

section 4081(c) (relating to later separation of gasoline) is 26 USC 4081. amended by inserting "(or with respect to which a credit or payment was allowed or made by reason of section 6427(f)(l))" after "this subsection". (4) TECHNICAL AMENDMENTS.—

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