Page:United States Statutes at Large Volume 94 Part 3.djvu/154

 94 STAT. 2798

PUBLIC LAW 96-510—DEC. 11, 1980

then no tax shall be imposed by this section during the first calendar year beginning after the date referred to in paragraph (1). 26 USC 4612.

"SEC. 4612. DEFINITIONS AND SPECIAL RULES.

"(a) DEFINITIONS.—For purposes of this subchapter— "(1) CRUDE OIL.—The term 'crude oil' includes crude oil condensates and natural gasoline. "(2) DOMESTIC CRUDE OIL.—The term 'domestic crude oil' means any crude oil produced from a well located in the United States. "(3) PETROLEUM PRODUCT.—The term 'petroleum product' includes crude oil. "(4) UNITED STATES.—

"(A) IN GENERAL.—The term 'United States' means the 50 States, the District of Columbia, the Commonwealth of Puerto Rico, any possession of the United States, the Commonwealth of the Northern Mariana Islands, and the Trust Territory of the Pacific Islands. "(B) UNITED STATES INCLUDES CONTINENTAL SHELF AREAS.—

26 USC 638.

The principles of section 638 shall apply for purposes of the term 'United States'. "(C) UNITED STATES INCLUDES FOREIGN TRADE ZONES.—The

term 'United States' includes any foreign trade zone of the United States. "(5) UNITED STATES REFINERY.—The term 'United States refinery' means any facility in the United States at which crude oil is refined. "(6) REFINERIES WHICH PRODUCE NATURAL GASOLINE.—In the

case of any United States refinery which produces natural gasoline from natural gas, the gasoline so produced shall be treated as received at such refinery at the time so produced. "(7) PREMISES.—The term 'premises' has the same meaning as when used for purposes of determining gross income from the property under section 613. "(8) BARREL.—The term 'barrel' means 42 United States gallons. "(9) FRACTIONAL PART OF BARREL.—In the case of a fraction of a barrel, the tax imposed by section 4611 shall be the same fraction of the amount of such tax imposed on a whole barrel. "(b) ONLY 1 TAX IMPOSED WITH RESPECT TO ANY PRODUCT.—NO tax

Ante, p. 2797.

shall be imposed by section 4611 with respect to any petroleum product if the person who would be liable for such tax establishes that a prior tax imposed by such section has been imposed with respect to such product. "(c) DISPOSITION OF REVENUES FROM PUERTO RICO AND THE VIRGIN

ISLANDS.—The provisions of subsections (a)(3) and (b)(3) of section 7652 shall not apply to any tax imposed by section 4611.

"Subchapter B—Tax on Certain Chemicals 26 USC 4661.

"Sec. 4661. Imposition of tax. "Sec. 4662. Definitions and specieil rules. "SEC. 4661. IMPOSITION OF TAX. "(a) GENERAL RULE.—There is hereby imposed a tax on any taxable

chemical sold by the manufacturer, producer, or importer thereof. "(b) AMOUNT OF TAX.—The amount of the tax imposed by subsection (a) shall be determined in accordance with the following table:

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