section with respect to any highway motor fuel in retail 
stocks held at the place where intended to be sold at retail. 
(d) DEFINITIONS.—For purposes of this section— 
(1) TAX RATE REDUCTION DATE.—The term 
‘‘tax rate reduction date’’ means the first day of the 
reduction period (as defined in section 4081(f) of 
the Internal Revenue Code of 1986 (as added by 
section 3 of this Act)). 
(2) OTHER TERMS.—The terms ‘‘dealer’’ and 
‘‘held by a dealer’’ have the respective meanings 
given to such terms by section 6412 of such Code. 
(e) CERTAIN RULES TO APPLY.—Rules similar to the 
rules of subsections (b) and (c) of section 6412 of such 
Code shall apply for purposes of this section. 
SEC. 6. FLOOR STOCKS TAX. 
(a) IMPOSITION OF TAX.—In the case of any highway 
motor fuel which is held on the tax restoration date by 
any person, there is hereby imposed a floor stocks tax 
equal to the excess of the tax which would be imposed on 
such fuel had the taxable event occurred on such date over 
the tax (if any) previously paid (and not credited or re-
funded) on such fuel. 
(b) LIABILITY
FOR TAX
AND METHOD
OF PAY-
MENT.—
(1) LIABILITY FOR TAX.—The person holding 
highway motor fuel on the tax restoration date to 
which the tax imposed by subsection (a) applies shall 
be liable for such tax. 
(2) METHOD OF PAYMENT.—The tax imposed 
by subsection (a) shall be paid in such manner as 
the Secretary shall prescribe. 
(3) TIME FOR PAYMENT.—The tax imposed by 
subsection (a) shall be paid on or before the 45th 
day after the tax restoration date. 
(c) DEFINITIONS.—For purposes of this section— 
(1) TAX RESTORATION DATE.—The term ‘‘tax 
restoration date’’ means the first day after the re-
duction period (as defined in section 4081(f) of the 
Internal Revenue Code of 1986). 
(2) HIGHWAY MOTOR FUEL.—The term ‘‘high-
way motor fuel’’ has the meaning given to such term 
by section 4081(f) of such Code. 
(3) HELD
BY
A
PERSON.—A highway motor 
fuel shall be considered as held by a person if title 
thereto has passed to such person (whether or not 
delivery to the person has been made). 
(4) SECRETARY.—The term ‘‘Secretary’’ means 
the Secretary of the Treasury or the Secretary’s del-
egate.
(d) EXCEPTION FOR EXEMPT USES.—The tax im-
posed by subsection (a) shall not apply to any highway 
motor fuel held by any person exclusively for any use to 
the extent a credit or refund of the tax is allowable for 
such use. 
(e) EXCEPTION FOR CERTAIN AMOUNTS OF FUEL.— 
(1) IN GENERAL.—No tax shall be imposed by 
subsection (a) on any highway motor fuel held on 
the tax restoration date by any person if the aggre-
gate amount of such highway motor fuel held by 
such person on such date does not exceed 2,000 gal-
lons. The preceding sentence shall apply only if such 
person submits to the Secretary (at the time and in 
the manner required by the Secretary) such informa-
tion as the Secretary shall require for purposes of 
this paragraph. 
(2) EXEMPT
FUEL.—For purposes of para-
graph (1), there shall not be taken into account any 
highway motor fuel held by any person which is ex-
empt from the tax imposed by subsection (a) by rea-
son of subsection (d). 
(3) CONTROLLED
GROUPS.—For purposes of 
this section— 
(A) CORPORATIONS.—
(i) IN GENERAL.—All persons treated 
as a controlled group shall be treated as 1 
person. 
(ii) CONTROLLED GROUP.—The term 
‘‘controlled group’’ has the meaning given 
to such term by subsection (a) of section 
1563 of such Code; except that for such 
purposes the phrase ‘‘more than 50 per-
cent’’ shall be substituted for the phrase 
‘‘at least 80 percent’’ each place it appears 
in such subsection. 
(B) NONINCORPORATED PERSONS UNDER 
COMMON
CONTROL.—Under regulations pre-
scribed by the Secretary, principles similar to 
the principles of subparagraph (A) shall apply 
to a group of persons under common control if 
1 or more of such persons is not a corporation. 
(f) OTHER LAWS APPLICABLE.—All provisions of 
law, including penalties, applicable with respect to the 
taxes imposed by section 4081 of such Code shall, insofar 
as applicable and not inconsistent with the provisions of 
this section, apply with respect to the floor stock taxes 
imposed by subsection (a) to the same extent as if such 
taxes were imposed by such sections. 
Æ