To amend the Internal Revenue Code of 1986 to credit the Highway Trust Fund with the full amount of fuel taxes, to combat fuel tax evasion, and for other purposes.

Bill: 108-hr-3967
Sponsor: Rep. Thomas, William M. [R-CA-22]
Introduced: 2004-03-12 in the House
Policy area: Taxation
Subjects: Administrative procedure
Affiliated corporations
Agricultural machinery
Agriculture and Food
Aircraft
Airports
Alcohol as fuel
Armed Forces and National Security
Automobile tires
Aviation fuels
Boats and boating
Bridges
Business records
Charitable contributions
Civil actions and liability
Claims
Collection of accounts
Commerce
Computer software
Consumer credit
Contracts
Copyright
Corporate philanthropy
Credit cards
Crime and Law Enforcement
Customs administration
Damages
Defense contracts
Defense procurement
Department of the Treasury
Depreciation and amortization
Diesel motor
Directories
Dyes and dyeing
Economics and Public Finance
Electric power production
Electric utilities
Electronic data interchange
Electronic government information
Energy
Excise tax
Farmers
Finance and Financial Sector
Fines (Penalties)
Foreign Trade and International Finance
Freight
Gas companies
Gasoline
Government Operations and Politics
Government contractors
Government paperwork
Government service contracts
Government trust funds
Governmental investigations
Highway finance
Highway use tax
Identification devices
Imports
Infrastructure
Intangible property
Intellectual property
Interest
Intermodal transportation
Law
Lease and rental services
Leases
Liability (Law)
Limitation of actions
Loans
Losses
Machinery
Military and naval supplies
Motor vehicles
Patents
Petroleum
Petroleum pipelines
Petroleum refineries
Public utilities
Railroad freight operations
Road construction
Sales tax
Science, Technology, Communications
Service industries
Sports and Recreation
Subcontractors
Subsidies
Surety and fidelity
Tankers
Tax administration
Tax credits
Tax deductions
Tax evasion
Tax exemption
Tax penalties
Tax rates
Tax refunds
Tax returns
Tax simplification
Tax-exempt organizations
Tax-exempt securities
Trade secrets
Trademarks
Transportation and Public Works
Transportation engineering
Trucking
Trucks
Tunnels
Valuation

Summary:
action_date: 2004-03-12
text: 
 Amends the Internal Revenue Code to repeal various provisions allowing for reductions in the excise tax on certain alcohol fuel mixtures. Allows taxpayers to apply the income tax credit for alcohol products used as fuel against their excise tax liability. Repeals provisions limiting the amount of alcohol fuel tax receipts that shall be transferred to the Highway Trust Fund. Provides that the amount of such receipts that shall be appropriated to the Fund shall include amounts equivalent to the excise tax credits allowed for alcohol fuel mixtures.
 
Exempts certain mobile machinery from the excise tax on heavy trucks sold at retail, the use tax on highway vehicles, and the tax on tires. Makes changes to certain administrative provisions of the excise tax on gasoline, diesel fuel, and kerosene (taxable fuels), including revisions concerning: (1) the tax on aviation-grade kerosene; (2) registration of vendors of taxable fuels; (3) penalties for failure to register or report information on taxable fuels; (4) the authority of the Internal Revenue Service to inspect books and records of fuel vendors; (5) mechanical dyeing of diesel fuel and kerosene; and (6) claims for refunds and credits of fuel excise taxes. 
 
Revises tax rules relating to ultimate vendors of taxable fuels for purposes of claiming tax refunds. Revises the excise tax on tires. 
 
Treats bonds issued for certain transportation facilities as tax-exempt facility bonds. 
 
Limits the depreciation period for computer software that is leased to a tax-exempt entity. Disallows certain tax losses resulting from leases of property to tax-exempt entities.
 
Requires an appraisal for non-inventory motor vehicles, boats, and aircraft that are claimed as a charitable deduction. Revises rules for documenting noncash charitable contributions in excess of $500. Sets forth rules for the charitable contribution deduction of patents and other intellectual property.
 
Authorizes the Secretary of the Treasury to contract with collection agencies to collect unpaid Federal taxes. Allows a civil action against collection agencies, but not against the United States, for unauthorized collection activities.
 
Allows sport franchises an amortization deduction for certain intangibles, including goodwill. Allows a 15- and 20-year recovery period respectively for the depreciation of gas utility property and electric utility transmission and distribution plant grading costs. Increases from 15 to 100 percent the amount of the continuing levy on payments to Federal vendors for unpaid taxes.


Legislative actions:
action_date: 2004-03-12
text: Referred to the House Committee on Ways and Means.
action_date: 2004-03-12
text: Introduced in House
action_date: 2004-03-12
text: Introduced in House