,i  #aai? ,,congress  #b;d ,session  ,h4
 ,r4 #hhjc  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,may #ac1 #bjbf,mr4   
,%]man introduc$ ! foll[+ bill2 :i* 0   
ref]r$ to ! ,committee on ,ways & ,means
  ,a ,,bill  ,to am5d ! ,int]nal ,rev5ue
 ,code ( #aihf to impose a w9dfall      
pr(its excise tax on crude oil & to     
rebate ! tax collect$ back to individual
 taxpay]s until ! ,presid5t decl>es t   
all ho/ilities ) ,iran h ceas$1 ! ,/rait
 ( ,hormuz is fully reop5$1 & ! price ( 
oil drops bel[ #ge p] b>rel4  #a4 ,%ort 
title ,?is ,act may be cit$ z ! ,iran   
,w> ,oil ,crisis ,w9dfall ,pr(its ,tax  
,act4  #b4 ,w9dfall pr(its tax  7a7 ,9  
g5]al ,subtitle ,e ( ! ,int]nal ,rev5ue 
,code ( #aihf is am5d$ by add+ at ! end 
!re( ! foll[+ new *apt]3  #ef ,w9dfall  
pr(its on crude oil  ,sec4 #ehif4       
,imposition ( tax4 ,sec4 #ehig4         
,def9itions & special rules4  #ehif4    
,imposition ( tax  7a7 ,9 g5]al ,9      
addition to any o!r tax impos$ "u ?is   
title1 9 ea* applicable cal5d> qu>t] !re

 is h]eby impos$ on any cov]$ taxpay] an
 excise tax at ! rate det]m9$ "u        
subsection 7c7 on-- 7#a7 ea* b>rel (    
taxable crude oil extract$ by ! taxpay] 
)9 ! ,unit$ ,/ates & remov$ f ! prop]ty 
( su* taxpay] dur+ ! cal5d> qu>t]1 &    
7#b7 ea* b>rel ( taxable crude oil ent]$
 into ! ,unit$ ,/ates dur+ ! cal5d>     
qu>t] by ! taxpay] = consumption1 use1  
or w>eh\s+4  7b7 ,applicable cal5d>     
qu>t] ,= purposes ( ?is section1 ! t]m  
applicable cal5d> qu>t] means any cal5d>
 qu>t] beg9n+ ) ! qu>t] :i* includes !  
date ( ! enactm5t ( ?is *apt]1 & end+ ) 
! qu>t] 9 :i*--  7#a7 all ho/ilities )  
,iran h ceas$ 7z decl>$ by ! ,presid5t71
  7#b7 ! ,/rait ( ,hormuz is fully      
reop5$1 &  7#c7 ! price ( oil p] b>rel  
falls bel[ #ge p] ! ,we/ ,texas         
,int]m$iate4  7c7 ,rate ( tax  7#a7 ,9  
g5]al ,! rate ( tax impos$ by ?is       
section on any b>rel ( taxable crude oil
 = any cal5d> qu>t] is ! product (--    
7,a7 #ajj p]c5t1 &  7,b7 s mu* ( ! price
 ( a b>rel ( ,we/ ,texas ,int]m$iate oil

 ov] ! cov]$ cal5d> qu>t] z exce$s #ge4 
7#b7 ,inflation adju/m5t  7,a7 ,9 g5]al 
,9 ! case ( a cal5d> qu>t] beg9n+ 9 any 
taxable ye> beg9n+ aft] #bjbf1 ! am\nt  
det]m9$ "u p>agraph 7#a77;,b77ii7 %all  
be increas$ by an am\nt equal to-- 7i7  
su* doll> am\nt1 multipli$ by  7ii7 !   
co/-(-liv+ adju/m5t det]m9$ "u section  
#a7;f77#c7 = ! cal5d> ye> 9 :i* !       
taxable ye> beg9s1 det]m9$ by sub/itut+ 
#bjbe = #bjaf 9 subp>agraph 7,a77ii7    
!re(4  7,b7 ,r\nd+ ,if any doll> am\nt1 
aft] be+ increas$ "u subp>agraph 7,a71  
is n a multiple ( #j4ej1 su* doll> am\nt
 %all be r\nd$ to ! next l[e/ multiple (
 #j4ja4  7d7 ,fractional "p ( b>rel ,9 !
 case ( a fraction ( a b>rel1 ! tax     
impos$ by subsection 7a7 %all be ! same 
fraction ( ! am\nt ( su* tax impos$ on !
 :ole b>rel4  #ehig4 ,def9itions &      
special rules  7a7 ,def9itions ,=       
purposes ( ?is *apt]--  7#a7 ,cov]$     
taxpay]  7,a7 ,9 g5]al ,! t]m cov]$     
taxpay] means1 ) respect to any cal5d>  
qu>t]1 any taxpay] if-- 7i7 ! av]age    

daily numb] ( b>rels ( taxable crude oil
 extract$ & import$ by ! taxpay] =      
cal5d> ye> #bjbe exce$$ #ajj1jjj b>rels1
 or  7ii7 ! av]age daily numb] ( b>rels 
( taxable crude oil extract$ & import$  
by ! taxpay] = ! cal5d> qu>t] exce$s    
#ajj1jjj4  7,b7 ,aggregation rules ,all 
p]sons treat$ z a s+le employ] "u       
subsection 7a7 or 7b7 ( section #eb or  
subsection 7m7 or 7o7 ( section #dad    
%all be treat$ z "o p]son = purposes (  
p>agraph 7#a74  7#b7 ,taxable crude oil 
,! t]m taxable crude oil includes crude 
oil1 crude oil cond5sates1 natural      
gasol9e1 gasol9e1 & diesel4  7#c7 ,b>rel
 ,! t]m b>rel means #db ,unit$ ,/ates   
gallons4  7#d7 ,unit$ ,/ates ,! t]m     
,unit$ ,/ates has ! same mean+ giv5 su* 
t]m "u section #dfab4  7b7 ,)hold+ &    
deposit ( tax ,! ,secret>y %all provide 
su* rules z are necess>y = ! )hold+ &   
deposit ( ! tax impos$ "u section #ehif 
on any taxable crude oil4  7c7 ,records 
& in=mation ,ea* taxpay] liable = tax "u
 section #ehif %all keep su* records1   

make su* returns1 & furni% su* in=mation
 7to ! ,secret>y & to o!r p]sons hav+ an
 int]e/ 9 ! taxable crude oil7 ) respect
 to su* oil z ! ,secret>y may by        
regulations prescribe4  7d7 ,return (   
w9dfall pr(it tax ,! ,secret>y %all     
provide = ! fil+ & ! "t ( su* fil+ ( !  
return ( ! tax impos$ "u section #ehif4 
7e7 ,regulations ,n lat] ?an #ij days   
aft] ! date ( ! enactm5t ( ?is section1 
! ,secret>y %all prescribe su*          
regulations z may be necess>y or        
appropriate to c>ry out ! purposes ( ?is
 *apt]4  4  7b7 ,cl]ical am5dm5t ,!     
table ( *apt]s = subtitle ,e ( !        
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by add+ at ! end ! foll[+ new item3     
,*apt] #ef4 ,w9dfall pr(it on crude oil4
  4  7c7 ,effective date ,! am5dm5ts    
made by ?is section %all apply to crude 
oil remov$ or ent]$ aft] ! date ( !     
enactm5t ( ?is ,act1 9 cal5d> qu>t]s    
end+ aft] su* date4  #c4 ,gasol9e price 
rebates  7a7 ,9 g5]al ,sub*apt] ,b (    
*apt] #fe ( ! ,int]nal ,rev5ue ,code (  

#aihf is am5d$ by add+ at ! end ! foll[+
 new section3  #fdcf4 ,gasol9e price    
rebates  7a7 ,9 g5]al ,9 ! case ( an    
eligible individual1 !re %all be all[$ z
 a cr$it aga9/ ! tax impos$ by subtitle 
,a = ea* taxable ye> beg9n+ aft]        
,decemb] #ca1 #bjbe1 an am\nt equal to !
 sum ( ! gasol9e price rebate am\nt =   
cal5d> qu>t]s beg9n+ 9 su* taxable ye>4 
7b7 ,gasol9e price rebate am\nt ,! t]m  
gasol9e price rebate am\nt means1 )     
respect to any taxpay] = any cal5d>     
qu>t] beg9n+ 9 a taxable ye>1 an am\nt  
det]m9$ by ! ,secret>y n lat] ?an #cj   
days aft] ! end ( su* cal5d> qu>t] tak+ 
into acc\nt ! numb] ( eligible          
individuals & ! am\nt ( rev5ues 9 !     
,iran ,w> ,gasonl9e ,price ,relief ,fund
 result+ f ! tax impos$ by section #ehif
 = ! prec$+ cal5d> qu>t]4  7c7 ,eligible
 individual ,= purposes ( ?is section1 !
 t]m eligible individual means any      
individual o!r ?an-- 7#a7 any nonresid5t
 ali5 individual1  7#b7 any individual  
:o is a dep5d5t ( ano!r taxpay] = a     

taxable ye> beg9n+ 9 ! cal5d> ye> 9 :i* 
! individual's taxable ye> beg9s1 &     
7#c7 an e/ate or tru/4  7d7 ,def9itions 
& special rules  7#a7 ,dep5d5t def9$ ,= 
purposes ( ?is section1 ! t]m dep5d5t   
has ! mean+ giv5 su* t]m by section     
#aeb4  7#b7 ,cr$it treat$ z refundable  
,! cr$it all[$ by subsection 7a7 %all be
 treat$ z all[$ by subp>t ,c ( "p ,,iv (
 sub*apt] ,a ( *apt] #a4  7e7           
,regulations ,n lat] ?an #ij days aft] !
 date ( ! enactm5t ( ?is section1 !     
,secret>y %all prescribe su* regulations
 or o!r guidance z may be necess>y or   
appropriate to c>ry out ! purposes ( ?is
 section4  7f7 ,outrea* ,n lat] ?an #cj 
days aft] ! date ( ! enactm5t ( ?is     
section1 ! ,secret>y %all c>ry out a    
robu/ & compreh5sive outrea* program to 
ensure t all taxpay]s le>n ( _!         
eligibility = ! cr$its all[$ "u ?is     
section & are provid$ assi/ance 9 claim+
 su* cr$its4  4  7b7 ,treatm5t ( c]ta9  
possessions  7#a7 ,paym5ts to           
possessions ) mirror code tax sy/ems ,! 

,secret>y ( ! ,treasury %all pay to ea* 
possession ( ! ,unit$ ,/ates :i* has a  
mirror code tax sy/em am\nts equal to ! 
loss 7if any7 to t possession by reason 
( ! am5dm5ts made by ?is section4 ,su*  
am\nts %all be det]m9$ by ! ,secret>y ( 
! ,treasury bas$ on in=mation provid$ by
 ! gov]nm5t ( ! respective possession4  
7#b7 ,paym5ts to o!r possessions ,!     
,secret>y ( ! ,treasury %all pay to ea* 
possession ( ! ,unit$ ,/ates :i* does n 
h a mirror code tax sy/em am\nts e/imat$
 by ! ,secret>y ( ! ,treasury z be+     
equal to ! aggregate b5efits 7if any7 t 
w\ld h be5 provid$ to resid5ts ( su*    
possession by reason ( ! am5dm5ts made  
by ?is section if a mirror code tax     
sy/em _h be5 9 effect 9 su* possession4 
,! prec$+ s5t5ce %all n apply unless !  
respective possession has a plan1 :i*   
has be5 approv$ by ! ,secret>y ( !      
,treasury1 "u :i* su* possession w      
promptly di/ribute su* paym5ts to its   
resid5ts4  7#c7 ,inclusion (            
adm9i/rative exp5ses ,! ,secret>y ( !   

,treasury %all pay to ea* possession ( !
 ,unit$ ,/ates to :i* ! ,secret>y makes 
a paym5t "u p>agraph 7#a7 or 7#b7 an    
am\nt equal to ! increase 7if any7 ( !  
adm9i/rative exp5ses ( su* possession-- 
7,a7 9 ! case ( a possession describ$ 9 
p>agraph 7#a71 by reason ( ! am5dm5ts   
made by ?is section1 &  7,b7 9 ! case ( 
a possession describ$ 9 p>agraph 7#b71  
by reason ( c>ry+ out ! plan describ$ 9 
su* p>agraph1 or  ! am\nt describ$ 9    
subp>agraph 7,a7 %all be det]m9$ by !   
,secret>y ( ! ,treasury bas$ on         
in=mation provid$ by ! gov]nm5t ( !     
respective possession4  7#d7            
,coord9ation ) cr$it all[$ aga9/ unit$  
/ates income taxes ,no cr$it %all be    
all[$ aga9/ ,unit$ ,/ates income taxes  
"u section #fdcd ( ! ,int]nal ,rev5ue   
,code ( #aihf 7z add$ by ?is section7 to
 any p]son-- 7,a7 to :om a cr$it is     
all[$ aga9/ taxes impos$ by ! possession
 by reason ( ! am5dm5ts made by ?is     
section1 or  7,b7 :o is eligible = a    
paym5t "u a plan describ$ 9 p>agraph    

7#b74  7#e7 ,mirror code tax sy/em ,=   
purposes ( ?is subsection1 ! t]m mirror 
code tax sy/em means1 ) respect to any  
possession ( ! ,unit$ ,/ates1 ! income  
tax sy/em ( su* possession if ! income  
tax liability ( ! resid5ts ( su*        
possession "u su* sy/em is det]m9$ by   
ref]5ce to ! income tax laws ( ! ,unit$ 
,/ates z if su* possession 7 ! ,unit$   
,/ates4  7#f7 ,treatm5t ( paym5ts ,=    
purposes ( section #acbd ( title #ca1   
,unit$ ,/ates ,code1 ! paym5ts "u ?is   
subsection %all be treat$ 9 ! same mann]
 z a refund due f a cr$it provision     
ref]r$ to 9 subsection 7b77#b7 ( su*    
section4  7#g7 ,secret>y ( ! ,treasury  
,= purposes ( ?is subsection1 ! t]m     
,secret>y ( ! ,treasury includes !      
,secret>y's delegate4  7c7 ,adm9i/rative
 provisions  7#a7 ,def9ition ( defici5cy
 ,section #fbaa7;b77#d77;,a7 ( !        
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by /rik+ & #fdcc & ins]t+ #fdcc1 &      
#fdcd14  7#b7 ,con=m+ am5dm5ts  7,a7    
,p>agraph 7#b7 ( section #acbd7;b7 (    

title #ca1 ,unit$ ,/ates ,code1 is am5d$
 by ins]t+ #fdcd1 aft] #fdcc14  7,b7 ,! 
table ( sections = sub*apt] ,b ( *apt]  
#fe ( ! ,int]nal ,rev5ue ,code ( #aihf  
is am5d$ by add+ at ! end ! foll[+ new  
item3  ,sec4 #fdcf4 ,gasol9e price      
rebates4  4  7d7 ,effective date ,!     
am5dm5ts made by ?is section %all apply 
to taxable ye>s beg9n+ aft] ,decemb]    
#ca1 #bjbe4  #d4 ,iran ,w> ,gasonl9e    
,price ,relief ,fund  7a7 ,9 g5]al      
,sub*apt] ,a ( *apt] #ih ( ! ,int]nal   
,rev5ue ,code ( #aihf is am5d$ by add+  
at ! end ! foll[+ new section3  #ieab4  
,iran ,w> ,gasonl9e ,price ,relief ,fund
  7a7 ,e/abli%m5t & fund+ ,!re is h]eby 
e/abli%$ 9 ! ,treasury ( ! ,unit$ ,/ates
 a tru/ fund to be ref]r$ to z ! ,iran  
,w> ,gasonl9e ,price ,relief ,fund1     
consi/+ ( su* am\nts z may be           
appropriat$ or cr$it$ to su* tru/ fund z
 provid$ = 9 ?is section & section      
#ifjb7;b74  7b7 ,transf]s to ! ,iran ,w>
 ,gasonl9e ,price ,relief ,fund ,!re are
 h]eby appropriat$ to ! ,iran ,w>       

,gasonl9e ,price ,relief ,fund am\nts   
equival5t to ! taxes receiv$ 9 !        
,treasury "u section #ehif4  7c7 ,use ( 
funds ,! ,secret>y %all pay f "t to "t f
 ! ,iran ,w> ,gasonl9e ,price ,relief   
,fund to ! g5]al fund ( ! ,treasury     
am\nts equal to ! am\nts ( refunds      
provid$ "u section #fdcf4  4  7b7       
,cl]ical am5dm5t ,! table ( sections =  
sub*apt] ,a ( *apt] #ih ( su* ,code is  
am5d$ by add+ at ! end ! foll[+ new     
item3  ,sec4 #ieab4 ,iran ,w> ,gasonl9e 
,price ,relief ,fund4  4  7c7 ,effective
 date ,! am5dm5ts made by ?is section   
%all apply to taxable ye>s beg9n+ aft]  
,decemb] #ca1 #bjbe4