taxable year increased by any amount excluded from 
gross income under section 911, 931, or 933. 
‘‘(e) RATE OF INCREASE IN PRICE OF A GALLON OF 
GASOLINE MUST EXCEED RATE OF INFLATION BY NOT 
LESS THAN 200 PERCENT.— 
‘‘(1) GENERAL RULE.—Subsection (a) shall not 
apply for any taxable year unless the Secretary de-
termines that the percentage change in the price of 
a gallon of gasoline for the taxable year is not less 
than 200 percent of the change in the inflation rate 
for such taxable year. 
‘‘(2) PERCENTAGE CHANGE IN THE PRICE OF A 
GALLON OF GASOLINE.—For purposes of paragraph 
(1), the percentage change in the price of a gallon 
of gasoline for a taxable year is the percentage (if 
any) by which— 
‘‘(A) the average price of a gallon of gaso-
line as of the close of the taxable year, exceeds 
‘‘(B) the average price of a gallon gasoline 
as of the beginning of the taxable year. 
‘‘(3) INFLATION RATE.—For purposes of para-
graph (1), the inflation rate for the determination 
period is the percentage (if any) by which—
‘‘(A) the average of the Consumer Price 
Index as of the close of the taxable year, ex-
ceeds 
‘‘(B) the average of the Consumer Price 
Index as of the beginning of the taxable year. 
‘‘(4) PRICE OF A GALLON OF GASOLINE.—For 
purposes of this subsection, the price of a gallon of 
gasoline shall be as determined under the U.S. Reg-
ular All Formulations Retail Gasoline Prices by the 
Energy Information Administration of the Depart-
ment of Energy. 
‘‘(5) CONSUMER PRICE INDEX.—For the pur-
poses of this subsection, the term ‘Consumer Price 
Index’ means the last Consumer Price Index for all- 
urban consumers published by the Department of 
Labor. For purposes of the preceding sentence, the 
revision of the Consumer Price Index which is most 
consistent with the Consumer Price Index for cal-
endar year 1986 shall be used. 
‘‘(f) ADJUSTMENTS FOR INFLATION.—In the case of 
a taxable year beginning after December 31, 2005, each 
of the dollar amounts in subsection (b) and subsection 
(d)(2)(A)(ii) shall be increased by an amount equal to— 
‘‘(1) such dollar amount, multiplied by
‘‘(2) the cost-of-living adjustment determined 
under section 1(f)(3) for the calendar year in which 
the taxable year begins, determined by substituting 
‘calendar year 2004’ for ‘calendar year 1992’ in sub-
paragraph (B) thereof. If any amount as increased 
under the preceding sentence is not a multiple of 
$50, such amount shall be rounded to the nearest 
multiple of $50. 
If, in the case of any amount in subsection (b) as in-
creased under the preceding sentence, is not a multiple 
of $10, such amount shall be rounded to the nearest mul-
tiple of $10, and if, in the case of any amount in sub-
section (d) as increased under the preceding sentence, is 
not a multiple of $100, such amount shall be rounded to 
the nearest multiple of $100. 
‘‘(g) GUIDANCE.—Not later than January 31 of each 
year, the Secretary shall promulgate such guidance as may 
be necessary or appropriate to carry out the provisions of 
this section with respect to the preceding taxable year.’’. 
(b) CLERICAL AMENDMENT.—The table of sections 
for subpart A of such part IV is amended by inserting 
after the item relating to section 25B the following new 
item: 
‘‘Sec. 25C. Credit for gasoline and diesel fuel used in highway vehicles for non-
business purposes.’’.
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2004. 
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