Energy Production Fairness Act

Bill: 114-hr-898
Sponsor: full_name: Rep. Kelly, Mike [R-PA-3]
Introduced: 2015-02-11
Policy area: Taxation
Subjects: Oil and gas

Sales and excise taxes
Latest action: action_date: 2015-02-11
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2015-02-11
action_desc: Introduced in House
text: <p><strong>Energy Production Fairness Act </strong></p> <p>This bill equalizes the excise tax&nbsp;on liquefied petroleum gas and liquefied natural gas by establishing a rate of 18.3 cents per energy equivalent of a gallon of gasoline for liquefied petroleum gas and 24.3 cents per energy equivalent of a gallon of diesel for liquefied natural gas. </p>

tv_txt: I 114th CONGRESS 1st Session H. R. 898 IN THE HOUSE OF REPRESENTATIVES February 11, 2015 Mr. Kelly of Pennsylvania (for himself and Mr. Kind ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to provide for the equalization of the excise tax on liquefied natural gas and liquefied petroleum gas.

1. Short title This Act may be cited as the Energy Production Fairness Act . 2. Equalization of excise tax on liquefied natural gas and liquefied petroleum gas (a) Liquefied petroleum gas (1) In general Subparagraph (B) of section 4041(a)(2) of the Internal Revenue Code of 1986 is amended by striking and at the end of clause (i), by redesignating clause (ii) as clause (iii), and by inserting after clause (i) the following new clause: (ii) in the case of liquefied petroleum gas, 18.3 cents per energy equivalent of a gallon of gasoline, and . (2) Energy equivalent of a gallon of gasoline Paragraph (2) of section 4041(a) of the Internal Revenue Code of 1986 is amended by adding at the end the following: (C) Energy equivalent of a gallon of gasoline For purposes of this paragraph, the term energy equivalent of a gallon of gasoline means, with respect to a liquefied petroleum gas fuel, the amount of such fuel having a Btu content of 115,400 (lower heating value). . (b) Liquefied natural gas (1) In general Subparagraph (B) of section 4041(a)(2) of the Internal Revenue Code of 1986, as amended by subsection (a)(1), is amended by striking and at the end of clause (ii), by striking the period at the end of clause (iii) and inserting , and and by inserting after clause (iii) the following new clause: (iv) in the case of liquefied natural gas, 24.3 cents per energy equivalent of a gallon of diesel. . (2) Energy equivalent of a gallon of diesel Paragraph (2) of section 4041(a) of the Internal Revenue Code of 1986, as amended by subsection (a)(2), is amended by adding at the end the following: (D) Energy equivalent of a gallon of diesel For purposes of this paragraph, the term energy equivalent of a gallon of diesel means, with respect to a liquefied natural gas fuel, the amount of such fuel having a Btu content of 128,700 (lower heating value). . (3) Conforming amendments Section 4041(a)(2)(B)(iv) of the Internal Revenue Code of 1986, as redesignated by subsection (a)(1) and paragraph (1), is amended— (A) by striking liquefied natural gas, , and (B) by striking peat), and and inserting peat) and . (c) Effective date The amendments made by this section shall apply to any sale or use of fuel after September 30, 2014.