,i #aaf? ,,congress #a/ ,session ,h4 ,r4 #edeg ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,decemb] #ag1 #bjai,mr4 ,sean ,patrick ,maloney ( ,new ,york introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to impose an excise tax on fuel bas$ on ! c>bon cont5t ( su* fuel1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,c>bon ,r$uction & ,tax ,cr$it ,act4 #b4 ,excise tax on c>bon cont5t ( fuels 7a7 ,9 g5]al ,*apt] #ch ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end !re( ! foll[+ new sub*apt]3 ,e ,c>bon ,cont5t ,fee ,sec4 #dfia4 ,c>bon cont5t4 #dfia4 ,c>bon cont5t 7a7 ,9 g5]al ,9 ! case ( a coal m9e or an oil or gas well1 !re is h]eby impos$ a tax equal to #dj p] ton ( c>bon conta9$ 9 fuel produc$-- 7#a7 at su* m9e or well locat$ 9 ! ,unit$ ,/ates1 or 7#b7 ent]$ into ! ,unit$ ,/ates = consumption1 use1 or w>eh\s+4 7b7 ,adju/m5t = ye>s aft] #bjbj 7#a7 ,9 g5]al ,9 ! case ( any cal5d> ye> aft] #bjbj1 ! am\nt "u subsection 7a7 %all be increas$ by an am\nt equal to-- 7,a7 su* am\nt1 multipli$ by 7,b7 ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 = su* cal5d> ye>1 det]m9$-- 7i7 by sub/itut+ cal5d> ye> #bjai = cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7 !re(1 & 7ii7 by sub/itut+ = ! ,c-,,cpi-,u ref]r$ to 9 section #a7;f77#c77;,a7 ! am\nt t su* ,,cpi w\ld h be5 if ! annual p]c5tage increase 9 ,,cpi ) respect to ea* ye> aft] #bjai _h be5 "o p]c5tage po9t great]4 7#b7 ,t]ms relat$ to ,,cpi 7,a7 ,annual p]c5tage increase ,= purposes ( subp>agraph 7,b77ii77,,ii71 ! t]m annual p]c5tage increase means ! p]c5tage 7if any7 by :i* ,c-,,cpi-,u = any ye> exce$s ! ,c-,,cpi-,u = ! prior ye>4 7,b7 ,o!r t]ms ,t]ms us$ 9 ?is p>agraph :i* are also us$ 9 section #a7;f77#c7 %all h ! same mean+s z :5 us$ 9 su* section4 7#c7 ,r\nd+ ,any increase det]m9$ "u subp>agraph 7,b7 %all be r\nd$ to ! ne>e/ multiple ( #ej4 4 7b7 ,cl]ical am5dm5t ,! table ( sub*apt]s = *apt] #ch ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new item3 ,sub*apt] ,e--,c>bon ,cont5t fee 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to fuel produc$ aft] ,decemb] #ca1 #bjai4 #c4 ,cr$it 7a7 ,9 g5]al ,subp>t ,c ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf 7relat+ to refundable cr$its7 is am5d$ by ins]t+ aft] section #cf;,b ! foll[+ new section3 #cf;,c4 ,cr$it = taxpay]s 7a7 ,all[ance ( cr$it ,!re %all be all[$ z a cr$it aga9/ ! tax impos$ by ?is *apt] = ! taxable ye> ) respect to ea* taxpay] :o is an individual & ea* dep5d5t ( ! taxpay] an am\nt equal to #a1jjj4 7b7 ,limitation bas$ on adju/$ gross income ,! am\nt ( ! cr$it all[able "u subsection 7a7 %all be r$uc$ 7b n bel[ z]o7 by #ajj = ea* #a1jjj 7or fraction !re(7 by :i* ! taxpay]'s adju/$ gross income exce$s #cad1jjj 7#aeg1jjj 9 ! case ( a return o!r ?an a jo9t return74 7c7 ,inflation adju/m5t ,9 ! case ( a taxable ye> beg9n+ aft] #bjbj1 ! doll> am\nts 9 subsections 7a7 & 7b7 %all be increas$ by an am\nt equal to-- 7#a7 su* doll> am\nt1 multipli$ by 7#b7 ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 = ! cal5d> ye> 9 :i* ! taxable ye> beg9s1 det]m9$ by sub/itut+ #bjai = #bjaf 9 subp>agraph 7,a77ii7 !re(4 ,if any increase "u ?is clause is n a multiple ( #ej1 su* increase %all be r\nd$ to ! next l[e/ multiple ( #ej4 7d7 ,nonresid5t ali5 ineligible = cr$it ,no cr$it %all be all[$ "u ?is section to any nonresid5t ali54 4 7b7 ,con=m+ am5dm5ts 7#a7 ,section #fbaa7;b77#d77;,a7 ( su* ,code is am5d$ by ins]t+ #cf;,c1 aft] #cf;,b14 7#b7 ,p>agraph 7#b7 ( section #acbd7;b7 ( title #ca1 ,unit$ ,/ates ,code1 is am5d$ by ins]t+ #cf;,c1 aft] #cf;,b14 7#c7 ,! table ( sections = subp>t ,c ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ aft] ! item relat+ to section #cf;,c ! foll[+ new item3 ,sec4 #cf;,c4 ,cr$it = taxpay]s4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjai4