115 S505 IS: Waterway LNG Parity Act of 2017
U.S. Senate
2017-03-02
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EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
1.This Act may be cited as the Waterway LNG Parity Act of 2017
. 2.Liquefied natural gas equivalent for purposes of Inland Waterways Trust Fund financing rate (a)Section 4042(b)(2)(A) of the Internal Revenue Code of 1986 is amended to read as follows:
(A)The Inland Waterways Trust Fund financing rate is 29 cents per gallon (per energy equivalent of a gallon of diesel, in the case of liquefied natural gas)..
(b)Energy equivalent of a gallon of dieselSection 4042(b) of the Internal Revenue Code of 1986 is amended by adding at the end the following: (5)Energy equivalent of a gallon of diesel with respect to liquefied natural gasFor purposes of paragraph (2)(A), the term energy equivalent of a gallon of diesel means 6.06 pounds of liquefied natural gas..
(c)The amendments made by this section shall apply to any sale or use of fuel during any calendar quarter beginning after the date of the enactment of this Act.