,i #aaith ,,congress #b;d ,session ,h4 ,r4 #ajfjg ,,in ,,the ,,house ,,of ,,representatives ,september #bd1 #bjbf,mr4 ,steube introduced the following bill2 which was referred to the ,committee on ,ways and ,means ,a ,,bill ,to amend the ,internal ,revenue ,code of #aihf to repeal certain excise taxes on diesel fuel1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,american ,fuel ,affordability ,act4 #b4 ,repeal of excise taxes on diesel fuel 7a7 ,section #djda taxes ,section #djda7;a77#a7 of the ,internal ,revenue ,code of #aihf is hereby repealed4 7b7 ,section #djha taxes ,section #djha7;a77#b77;,a7 of such ,code is amended by inserting and at the end of clause 7i71 by striking 1 and at the end of clause 7ii7 and inserting a period1 and by striking clause 7iii74 7c7 ,conforming amendments 7#a7 ,the heading of section #djda7;a7 of such ,code is amended by striking ,diesel fuel and special motor fuels and inserting ,special motor fuels4 7#b7 ,section #djda7;b77#a77;,c7 of such ,code is amended by striking 2 except that such term shall not1 for purposes of subsection 7a77#a71 include use in a diesel-powered train4 7#c7 ,section #djda7;d7 of such ,code is amended by striking paragraph 7#c7 and by redesignating paragraphs 7#d7 and 7#e7 as paragraphs 7#c7 and 7#d74 7#d7 ,section #djha7;a77#b7 of such ,code is amended by striking subparagraph 7,d74 7#e7 ,section #djha of such ,code is amended by striking subsection 7c7 and by redesignating subsections 7d7 and 7e7 as subsections 7c7 and 7d74 7#f7 ,section #djha7;c77#a7 of such ,code 7as so redesignated7 is amended by striking ,the rates of tax specified in clauses 7i7 and 7iii7 of subsection 7a77#b77;,a7 and inserting ,the rate of tax specified in subsection 7a77#b77;,a77i74 7d7 ,effective date ,the amendments made by this section shall apply to diesel fuel sold1 used1 removed1 or entered after the date of the enactment of this ,act4 #c4 ,transfers to ,trust ,fund 7a7 ,in general ,the ,secretary of the ,treasury shall transfer from the general fund to the ,highway ,trust ,fund established under section #iejc7;a7 of the ,internal ,revenue ,code of #aihf and the ,leaking ,underground ,storage ,tank ,trust ,fund established under section #iejh7;a7 of such ,code amounts equal to the reduction in amounts credited 7but for this subsection7 to each such ,trust ,fund by reason of section #b4 7b7 ,coordination rules 7#a7 ,leaking ,underground ,storage ,tank ,trust ,fund ,amounts transferred to the ,leaking ,underground ,storage ,tank ,trust ,fund under paragraph 7#a7 shall be treated for purposes of sections #iejc7;b77#a7 and #iejh7;b77#b7 of such ,code as taxes received in the ,treasury under section #djha of such ,code attributable to the ,leaking ,underground ,storage ,tank ,trust ,fund financing rate4 7#b7 ,highway ,trust ,fund ,amounts transferred to the ,highway ,trust ,fund under paragraph 7#a7 shall be treated for purposes of section #iejc7;b77#a7 of such ,code as taxes received in the ,treasury under section #djha of such ,code which are not attributable to the ,leaking ,underground ,storage ,tank ,trust ,fund financing rate4 #d4 ,refinery construction investment credit 7a7 ,in general ,subpart ,e of part ,,iv of subchapter ,a of chapter #a of subtitle ,a of the ,internal ,revenue ,code of #aihf is amended by inserting after ,section #dh;,e the following new section3 #dh;,f4 ,refinery construction investment credit 7a7 ,in general ,for purposes of section #df1 the refinery construction investment credit for any taxable year is an amount equal to #ce percent of the qualified investment for such taxable year4 7b7 ,qualified investment ,for purposes of subsection 7a71 the term qualified investment for any taxable year means the basis of any qualified property placed in service by the taxpayer during such taxable year which is part of a qualified facility4 7c7 ,qualified property ,for purposes of this section1 the term qualified property means property-- 7#a7 which is-- 7,a7 tangible personal property1 or 7,b7 other tangible property1 including a building or its structural components1 but only if such property is used as an integral part of a qualified facility1 7#b7 with respect to which depreciation 7or amortization in lieu of depreciation7 is allowable1 and 7#c7 the construction1 reconstruction1 or erection of which is completed by the taxpayer4 7d7 ,qualified facility 7#a7 ,in general ,for purposes of this section1 the term qualified facility means a facility-- 7,a7 which is a refinery located in the ,united ,states1 7,b7 which is designed to serve the primary purpose of processing liquid fuel from crude oil or qualified fuels 7as defined in section #de,k7c771 or directly from shale or tar sands1 7,c7 the construction of which begins after the date of the enactment of this section and before ,january #a1 #bjcb1 and 7,d7 which is placed in service before ,january #a1 #bjcg4 7#b7 ,exclusions ,the term qualified facility shall not include any facility for which any credit determined under this subpart other than the credit allowed under subsection 7a7 is allowed under section #ch for any taxable year4 7e7 ,special rules 7#a7 ,certain progress expenditure rules made applicable ,rules similar to the rules of subsections 7c77#d7 and 7d7 of section #df 7as in effect on the day before the date of the enactment of the ,revenue ,reconciliation ,act of #aiij7 shall apply for purposes of subsection 7a74 7#b7 ,special rule for property financed by subsidized energy financing or private activity bonds ,rules similar to the rule under section #de7;b77#c7 shall apply for purposes of this section4 4 7b7 ,credit included in investment credit ,section #df of such ,code is amended-- 7#a7 by striking the period at the end of paragraph 7#g7 and inserting 1 and1 and 7#b7 by adding at the end the following new paragraph3 7#h7 the refinery construction investment credit4 4 7c7 ,clerical amendment ,the table of sections for such subpart is amended by adding at the end the following new item3 ,sec4 #dh;,f4 ,refinery construction investment credit4 4 7d7 ,effective date ,the amendments made by this section shall apply to property placed in service after the date of the enactment of this ,act4 #e4 ,establishment of refinery production credit 7a7 ,in general ,subpart ,d of part ,,iv of subchapter ,a of chapter #a of subtitle ,a of the ,internal ,revenue ,code of #aihf is amended by adding at the end the following new section3 #de;,,bb4 ,refinery production credit 7a7 ,in general ,for purposes of section #ch1 the refinery production credit for any taxable year is an amount equal to #e cents per gallon of gasoline or diesel-- 7#a7 produced by the taxpayer at a qualified newly constructed refinery1 and 7#b7 sold by the taxpayer to an unrelated person during the taxable year4 7b7 ,qualified newly constructed refinery ,for purposes of this section1 the term qualified newly constructed refinery means a refinery-- 7#a7 which is a qualified facility 7as defined in section #dh;,f7d771 7#b7 which was placed in service within #aj years of the date a gallon of gasoline or diesel described in subsection 7a7 was produced4 4 7b7 ,credit included in general business credit ,section #ch of such ,code is amended-- 7#a7 in paragraph 7#dj71 by striking plus1 7#b7 in paragraph 7#da71 by striking the period and inserting 1 plus1 and 7#c7 by adding at the end the following new paragraph3 7#db7 the refinery production credit determined under section #de;,,bb7a74 4 7c7 ,clerical amendment ,the table of sections for such subpart is amended by adding at the end the following new item3 ,sec4 #de;,,bb4 ,refinery production credit4 4 7d7 ,effective date ,the amendments made by this section shall apply to amounts paid or incurred after the date of the enactment of this ,act4 #f4 ,special allowance for qualified production property made permanent for gasoline and diesel production 7a7 ,in general ,section #afh7n77#b7of the ,internal ,revenue ,code of #aihf is amended by adding at the end the following new subparagraph3 7,i7 ,special allowance made permanent for new refinery construction ,in the case of property integral to the new construction of a qualified facility described in section #dh;,f7d77#a7 7determined without regard to subparagraph 7,c7 of such section7-- 7i7 subparagraph 7,a7 shall be applied-- 7,i7 in clause 7v71 without regard to before ,january #a1 #bjbi1 and 7,,ii7 without regard to clause 7vii71 and 7ii7 this paragraph shall be applied without regard to subparagraph 7,h74 4 7b7 ,effective date ,the amendments made by this section shall apply to property the construction of which begins after the date of the enactment of this ,act4