(2) PETROLEUM
REFINING
ASSET.—Section 
168(i) of such Code is amended by adding at the 
end the following new paragraph: 
‘‘(20) PETROLEUM REFINING PROPERTY.— 
‘‘(A) IN GENERAL.—The term ‘petroleum 
refining property’ means any asset for petro-
leum refining, including assets used for the dis-
tillation, fractionation, and catalytic cracking of 
crude petroleum into gasoline and its other 
components. 
‘‘(B) ASSET MUST MEET ENVIRONMENTAL 
LAWS.—Such term shall not include any asset 
which does not meet all applicable environ-
mental laws in effect on the date such asset was 
placed in service. For purposes of the preceding 
sentence, a waiver under the Clean Air Act 
shall not be taken into account in determining 
whether the applicable environmental laws have 
been met. 
‘‘(C) SPECIAL
RULE
FOR
MERGERS
AND 
ACQUISITIONS.—Such term shall not include 
any asset with respect to which a deduction was 
taken under subsection (e)(3)(B) by any other 
taxpayer in any preceding year.’’. 
(3) EFFECTIVE DATE.— 
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(A) IN GENERAL.—The amendments made 
by this subsection shall apply to refineries 
placed in service after the date of the enact-
ment of this Act. 
(B) EXCEPTION.—The amendments made 
by this section shall not apply to any refinery 
with respect to which the taxpayer has entered 
into a binding contract for the construction 
thereof on or before the date of the enactment 
of this Act. 
SEC. 6. SUSPENSION OF FUEL TAXES ON HIGHWAY MOTOR 
FUELS WHEN WEEKLY UNITED STATES RE-
TAIL GASOLINE PRICES EXCEED BENCH-
MARK. 
(a) IN GENERAL.—Section 4081 of the Internal Rev-
enue Code of 1986 (relating to imposition of tax on motor 
and aviation fuels) is amended by adding at the end the 
following new subsection: 
‘‘(f) SUSPENSION OF HIGHWAY MOTOR FUEL TAXES 
WHEN RETAIL GASOLINE EXCEEDS BENCHMARK.— 
‘‘(1) IN GENERAL.—During any suspension pe-
riod, the tax imposed by this section or section 4041 
on highway motor fuel shall be suspended. 
‘‘(2) DEFINITIONS
AND
SPECIAL
RULE.—For 
purposes of this subsection— 
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‘‘(A) SUSPENSION
PERIOD.—The term 
‘suspension period’ means the period— 
‘‘(i) beginning on the date on which 
the weekly United States retail gasoline 
price, regular grade (as published by the 
Energy Information Administration, De-
partment of Energy), inclusive of such tax, 
is greater than $3.00 per gallon, and 
‘‘(ii) ending on the date on which such 
price (as so published), without regard to 
this subsection, does not exceed $3.00 per 
gallon. 
‘‘(B) HIGHWAY MOTOR FUEL.—The term 
‘highway motor fuel’ means any fuel subject to 
tax under this section or section 4041 other 
than aviation gasoline and aviation-grade ker-
osene.’’. 
(b) MAINTENANCE
OF TRUST FUNDS DEPOSITS; 
AMOUNTS APPROPRIATED TO TRUST FUNDS TREATED AS 
TAXES.— 
(1) IN
GENERAL.—There is hereby appro-
priated (out of any money in the Treasury not other-
wise appropriated) to each trust fund which would 
(but for this subsection) receive reduced revenues as 
a result of a suspension in a rate of tax by reason 
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of section 4081(f)(1) of the Internal Revenue Code 
of 1986 (as added by this section) an amount equal 
to such reduction in revenues. Amounts appropriated 
by the preceding sentence to any trust fund— 
(A) shall be transferred from the general 
fund at such times and in such manner as to 
replicate to the extent possible the transfers 
which would have occurred had such section 
4081(f)(1) not been enacted, and 
(B) shall be treated for all purposes of 
Federal law as taxes received under the appro-
priate section referred to in such section 
4081(f)(1). 
(c) EFFECTIVE DATE.—The amendment made by 
this section shall take effect on the date of the enactment 
of this Act. 
(d) FLOOR STOCK REFUNDS.— 
(1) IN GENERAL.—If— 
(A) before the tax suspension date, tax has 
been imposed under section 4081 of the Inter-
nal Revenue Code of 1986 on any highway 
motor fuel, and 
(B) on such date such fuel is held by a 
dealer and has not been used and is intended 
for sale, 
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there shall be credited or refunded (without interest) 
to the person who paid such tax (hereafter in this 
subsection referred to as the ‘‘taxpayer’’) an amount 
equal to the excess of the tax paid by the taxpayer 
over the tax which would be imposed on such fuel 
had the taxable event occurred on such date. 
(2) TIME FOR FILING CLAIMS.—No credit or re-
fund shall be allowed or made under this subsection 
unless— 
(A) claim therefor is filed with the Sec-
retary of the Treasury before the date which is 
6 months after the tax suspension date based 
on a request submitted to the taxpayer before 
the date which is 3 months after the tax sus-
pension date by the dealer who held the high-
way motor fuel on such date, and 
(B) the taxpayer has repaid or agreed to 
repay the amount so claimed to such dealer or 
has obtained the written consent of such dealer 
to the allowance of the credit or the making of 
the refund. 
(3) EXCEPTION
FOR
FUEL
HELD
IN
RETAIL 
STOCKS.—No credit or refund shall be allowed under 
this subsection with respect to any highway motor 
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fuel in retail stocks held at the place where intended 
to be sold at retail. 
(4) DEFINITIONS.—For purposes of this sub-
section— 
(A) TAX
SUSPENSION
DATE.—The term 
‘‘tax suspension date’’ means the first day of 
any suspension period in effect under section 
4081(f) of the Internal Revenue Code of 1986 
(as added by subsection (a) of this section). 
(B) OTHER TERMS.—The terms ‘‘dealer’’ 
and ‘‘held by a dealer’’ have the respective 
meanings given to such terms by section 6412 
of such Code. 
(5) 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 
subsection. 
(e) FLOOR STOCKS TAX.— 
(1) IMPOSITION OF TAX.—In the case of any 
highway motor fuel which is held on the tax restora-
tion 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) pre-
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viously paid (and not credited or refunded) on such 
fuel. 
(2) LIABILITY FOR TAX AND METHOD OF PAY-
MENT.— 
(A) LIABILITY
FOR
TAX.—The person 
holding highway motor fuel on the tax restora-
tion date to which the tax imposed by para-
graph (1) applies shall be liable for such tax. 
(B) METHOD OF PAYMENT.—The tax im-
posed by paragraph (1) shall be paid in such 
manner as the Secretary shall prescribe. 
(C) TIME
FOR
PAYMENT.—The tax im-
posed by paragraph (1) shall be paid on or be-
fore the 45th day after the tax restoration date. 
(3) DEFINITIONS.—For purposes of this sub-
section— 
(A) TAX RESTORATION DATE.—The term 
‘‘tax restoration date’’ means the first day after 
the suspension period (as defined in section 
4081(f) of the Internal Revenue Code of 1986). 
(B) HIGHWAY
MOTOR
FUEL.—The term 
‘‘highway motor fuel’’ has the meaning given to 
such term by section 4081(f) of such Code. 
(C) HELD
BY
A
PERSON.—A highway 
motor fuel shall be considered as held by a per-
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son if title thereto has passed to such person 
(whether or not delivery to the person has been 
made). 
(D) SECRETARY.—The term ‘‘Secretary’’ 
means the Secretary of the Treasury or the 
Secretary’s delegate. 
(4) EXCEPTION FOR EXEMPT USES.—The tax 
imposed by paragraph (1) 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. 
(5) EXCEPTION
FOR
CERTAIN
AMOUNTS
OF 
FUEL.— 
(A) IN
GENERAL.—No tax shall be im-
posed by paragraph (1) on any highway motor 
fuel held on the tax restoration date by any per-
son if the aggregate amount of such highway 
motor fuel held by such person on such date 
does not exceed 2,000 gallons. 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 information as 
the Secretary shall require for purposes of this 
subparagraph. 
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(B) EXEMPT FUEL.—For purposes of sub-
paragraph (A), there shall not be taken into ac-
count any highway motor fuel held by any per-
son which is exempt from the tax imposed by 
paragraph (1) by reason of paragraph (4). 
(C) CONTROLLED GROUPS.—For purposes 
of this subsection— 
(i) 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 sub-
section (a) of section 1563 of such 
Code; except that for such purposes 
the phrase ‘‘more than 50 percent’’ 
shall be substituted for the phrase ‘‘at 
least 80 percent’’ each place it ap-
pears in such subsection. 
(ii) 
NONINCORPORATED
PERSONS 
UNDER COMMON CONTROL.—Under regula-
tions prescribed by the Secretary, prin-
ciples similar to the principles of subpara-
graph (A) shall apply to a group of per-
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sons under common control if 1 or more of 
such persons is not a corporation. 
(6) 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 subsection, apply with respect 
to the floor stock taxes imposed by paragraph (1) to 
the same extent as if such taxes were imposed by 
such section. 
SEC. 7. INCREASE IN MILEAGE REIMBURSEMENT RATES. 
(a) BUSINESS.—For purposes of the Internal Rev-
enue Code of 1986, after the date of the enactment of 
this Act, the optional standard mileage rates to be used 
for computing the deductible costs of operating an auto-
mobile for business purposes shall be not less than 70 
cents per mile. 
(b) MEDICAL, MOVING, AND CHARITABLE CON-
TRIBUTION RATES.—For any day during the period under 
which highway motor fuel taxes are suspended under sec-
tion 4081(f) of the Internal Revenue Code of 1986— 
(1) the optional standard mileage rates to be 
used for computing the deductible costs of operating 
an automobile for medical, moving, and charitable 
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purposes shall be the same rate which is in effect for 
such day for business purposes, and 
(2) the rate under section 170(i) shall not 
apply. 
SEC. 8. TERMINATION OF APPLICATION OF TITLE IV OF 
THE TRADE ACT OF 1974 TO THE RUSSIAN 
FEDERATION AND KAZAKHSTAN. 
(a) PRESIDENTIAL DETERMINATIONS AND EXTEN-
SIONS OF NONDISCRIMINATORY TREATMENT.—Notwith-
standing any provision of title IV of the Trade Act of 1974 
(19 U.S.C. 2431 et seq.), the President may— 
(1) determine that such title should no longer 
apply 
to 
both 
the 
Russian 
Federation 
and 
Kazakhstan; and 
(2) after making a determination under para-
graph (1) with respect to the Russian Federation 
and Kazakhstan, proclaim the extension of non-
discriminatory treatment (normal trade relations 
treatment) to the products of those countries. 
(b) TERMINATION OF APPLICATION OF TITLE IV.— 
On and after the effective date of the extension under sub-
section (a)(2) of nondiscriminatory treatment to the prod-
ucts of the Russian Federation and Kazakhstan, title IV 
of the Trade Act of 1974 shall cease to apply to those 
countries. 
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