I 

109TH CONGRESS 

2D SESSION H. R. 5203 

To amend the Internal Revenue Code of 1986 to allow individuals a credit 

against income tax of at least $500 to offset the cost of high 2006 

gasoline and diesel fuel prices. 

IN THE HOUSE OF REPRESENTATIVES 

APRIL 26, 2006 

Mr. CHABOT introduced the following bill; which was referred to the 

Committee on Ways and Means 

A BILL 

To amend the Internal Revenue Code of 1986 to allow individuals a credit against income tax of at least $500 

to offset the cost of high 2006 gasoline and diesel fuel 

prices. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Gasoline Price Relief 

5 Act of 2006’’. 


cchase on PROD1PC60 with BILLS
2 

•HR 5203 IH 

1 SEC. 2. CREDIT AGAINST INCOME TAX TO OFFSET COST OF 

2 HIGH 2006 GASOLINE AND DIESEL FUEL 

3 PRICES. 

4 (a) IN GENERAL.—Subchapter B of chapter 65 of the 

5 Internal Revenue Code of 1986 (relating to abatements, 

6 credits, and refunds) is amended by adding at the end the 

7 following new section: 

8 ‘‘SEC. 6431. NONREFUNDABLE CREDIT TO OFFSET COST OF 

9 HIGH 2006 GASOLINE AND DIESEL FUEL 

10 PRICES. 

11 ‘‘(a) ALLOWANCE OF CREDIT.—In the case of an eli12 gible individual, there shall be allowed as a credit against 

13 the tax imposed by chapter 1 for the taxpayer’s last tax14 able year ending in 2006 the amount of $500 ($1,000 in 

15 the case of a joint return). 

16 ‘‘(b) DEFINITIONS.—For purposes of this section— 

17 ‘‘(1) ELIGIBLE INDIVIDUAL.— 

18 ‘‘(A) IN GENERAL.—The term ‘eligible in19 dividual’ means any individual to whom is reg20 istered under State law any qualified highway 

21 vehicle. 

22 ‘‘(B) EXCEPTIONS.—Such term shall not 

23 include— 

24 ‘‘(i) any estate or trust, 

25 ‘‘(ii) any nonresident alien individual, 

26 and 


cchase on PROD1PC60 with BILLS
3 

•HR 5203 IH 

1 ‘‘(iii) any individual with respect to 

2 whom a deduction under section 151 is al3 lowable to another taxpayer for a taxable 

4 year beginning in the calendar year in 

5 which the individual’s taxable year begins. 

6 ‘‘(2) QUALIFIED HIGHWAY VEHICLE.— 

7 ‘‘(A) IN GENERAL.—The term ‘qualified 

8 highway vehicle’ means any highway vehicle 

9 fueled in whole or in part by gasoline or diesel 

10 fuel. 

11 ‘‘(B) EXCEPTION FOR BUSINESS VEHI12 CLES.—Such term shall not include any vehicle 

13 all of the use of which is in any trade or busi14 ness. 

15 ‘‘(c) CREDIT TREATED AS NONREFUNDABLE PER16 SONAL CREDIT.—For purposes of this title, the credit al17 lowed under this section shall be treated as a credit allow18 able under subpart A of part IV of subchapter A of chap19 ter 1.’’. 

20 (b) CLERICAL AMENDMENT.—The table of sections 

21 for such subchapter B is amended by adding at the end 

22 the following new item: 

‘‘Sec. 6431. Nonrefundable credit to offset cost of high 2006 gasoline and diesel 

fuel prices.’’. 


cchase on PROD1PC60 with BILLS
4 

•HR 5203 IH 

1 (c) EFFECTIVE DATE.—The amendments made by 

2 this section shall apply to taxable years ending during 

3 2006. 

Æ 


cchase on PROD1PC60 with BILLS