(C) by striking paragraph (4), and
(D) by redesignating paragraph (5) as
paragraph (4).
(13) Subsection (b) of section 4092 of such
Code is amended by striking ‘‘attributable to’’ and
all that follows and inserting ‘‘attributable to the
Leaking Underground Storage Tank Trust Fund fi-
nancing rate imposed by such section. For purposes
of the preceding sentence, the term ‘commercial
aviation’ means any use of an aircraft other than in
noncommercial aviation (as defined in section
4041(c)(2)).’’
(14) Subparagraph (B) of section 6421(f)(2) of
such Code is amended by striking ‘‘and,’’ and all
that follows and inserting a period.
(15) Paragraph (3) of section 6421(f) of such
Code is amended to read as follows:
‘‘(3) GASOLINE USED IN TRAINS.—In the case
of gasoline used as a fuel in a train, this section
shall not apply with respect to the Leaking Under-
ground Storage Tank Trust Fund financing rate
under section 4081.’’
(16) Subparagraph (A) of section 6427(b)(2) of
such Code is amended by striking ‘‘7.4 cents’’ and
inserting ‘‘3.1 cents’’.
(17) Paragraph (3) of section 6427(l) of such
Code is amended to read as follows:
‘‘(3) REFUND
OF
CERTAIN
TAXES
ON
FUEL
USED IN DIESEL-POWERED TRAINS.—For purposes
of this subsection, the term ‘nontaxable use’ includes
fuel used in a diesel-powered train. The preceding
sentence shall not apply to the Leaking Under-
ground Storage Tank Trust Fund financing rate
under section 4081 except with respect to fuel sold
for exclusive use by a State or any political subdivi-
sion thereof.’’
(18) Paragraph (4) of section 6427(l) of such
Code is amended by striking ‘‘attributable to’’ and
all that follows through the period and inserting ‘‘at-
tributable to the Leaking Underground Storage
Tank Trust Fund financing rate imposed by such
section.’’
(g) EFFECTIVE DATE.—The amendments made by
this section shall take effect on the date of the enactment
of this Act.
(h) FLOOR STOCK REFUNDS.—
(1) IN GENERAL.—If—
(A) before the date of the enactment of
this Act, tax has been imposed under section
4081 or 4091 of the Internal Revenue Code of
1986 on any liquid, and
(B) on such date such liquid is held by a
dealer and has not been used and is intended
for sale,
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 amount of such tax which would be imposed
on such liquid 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 date of the enactment of
this Act, based on a request submitted to the
taxpayer before the date which is 3 months
after such date of enactment, by the dealer who
held the liquid on such date of enactment, 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 liquid in retail
stocks held at the place where intended to be sold
at retail.
(4) DEFINITIONS.—For purposes of this sub-
section, 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.
Æ