Definition: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Input: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Heavy Truck Tax Fairness Act of
2010''.

SEC. 2. REPEAL OF EXCISE TAX ON HEAVY TRUCKS AND TRAILERS.

(a) In General.--Chapter 31 of the Internal Revenue Code of 1986
(relating to retail excise taxes) is amended by striking subchapter C
(relating to heavy trucks and trailers).
(b) Conforming Amendments.--
(1) Section 4002(d)(2) of such Code is amended by inserting
''(as in effect be the date of the enactment of the Heavy Truck
Tax Fairness Act of 2010)'' after ''section 4052(b)''.
(2) Section 4072(c) of such Code is amended by inserting
''(as in effect be the date of the enactment of the Heavy Truck
Tax Fairness Act of 2010)'' after ''section 4053(8)''.
(3) Section 4221 of such Code is amended--
(A) in subsection (a) by striking ''4051, or'', and
(B) in subsection (c) by striking '', 4001(d) or
4053(6)'' and inserting ''or 4001(d)''.
(4) Section 4222(d) of such Code is amended by striking
''4053(6),''.
(5) Section 4293 of such Code is amended by striking
''section 4051,''.
(6) Section 6416(b)(6) of such Code is amended--
(A) in subparagraph (A) by inserting ''on or before
the date of the enactment of Heavy Truck Tax Fairness
Act of 2010'' after ''section 4051'', and
(B) in subparagraph (B) by inserting ''on or before
such date'' after ''section 4051''.
(7) Section 9503(b)(1) of such Code is amended by striking
subparagraph (B) and redesignating subparagraphs (C), (D), and
(E) as subparagraphs (B), (C), and (D), respectively.
(8) The table of subchapters for chapter 31 of such Code is
amended by striking the item relating to subchapter C.
(c) Effective Date.--The amendments made by this section shall
apply to articles sold by the manufacturer, producer, or importer after
the date of the enactment of this Act.

SEC. 3. INCREASE IN TAX ON DIESEL FUEL OR KEROSENE.

(a) In General.--
(1) Clause (iii) of section 4081(a)(2)(A) of the Internal
Revenue Code of 1986 is amended by striking ''24.3 cents'' and
inserting ''31.6 cents''.
(2) Effective date.--The amendment made by paragraph (1)
shall apply to fuel removed, entered, or sold after the date of
the enactment of this Act.
(b) Floor Stocks Tax.--
(1) Imposition of tax.--In the case of any taxable liquid
which is held on the floor stocks tax 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 liquid under section 4041 or
4081 of the Internal Revenue Code of 1986 had the taxable event
occurred on the floor stocks tax date over the tax paid under
any such section on such liquid.
(2) Liability for tax and method of payment.--
(A) Liability for tax.--A person holding a liquid
on the floor stocks tax date to which the tax imposed
by paragraph (1) applies shall be liable for such tax.
(B) Method of payment.--The tax imposed by
paragraph (1) shall be paid in such manner as the
Secretary shall prescribe.
(C) Time of payment.--The tax imposed by paragraph
(1) shall be paid on or before the date which is 6
months after the floor stocks tax date.
(3) Definitions.--For purposes of this subsection--
(A) Held by a person.--A liquid shall be considered
as held by a person if title thereto has passed to such
person (whether or not delivery to the person has been
made).
(B) Taxable liquid.--The term ''taxable liquid''
means diesel fuel and kerosene (other than aviation-
grade kerosene).
(C) Floor stocks date.--The term ''floor stocks tax
date'' means the date of the enactment of this Act.
(D) Secretary.--The term ''Secretary'' means the
Secretary of the Treasury.
(4) Exception for exempt uses.--The tax imposed by
paragraph (1) shall not apply to taxable liquid held by any
person exclusively for any use to the extent a credit or refund
of the tax imposed by a section of such Code is allowable for
such use.
(5) Exception for fuel held in vehicle tank.--No tax shall
be imposed by paragraph (1) on taxable liquid held in the tank
of a motor vehicle or motorboat.
(6) Exception for certain amounts of fuel.--
(A) In general.--No tax shall be imposed by
paragraph (1) on any liquid held on the floor stocks
tax date by any person if the aggregate amount of
liquid 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.
(B) Exempt fuel.--For purposes of subparagraph (1),
there shall not be taken into account fuel held by any
person which is exempt from the tax imposed by
paragraph (1) by reason of paragraph (4) or (5).
(C) Controlled groups.--For purposes of this
section--
(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 subsection (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 appears in such
subsection.
(ii) Nonincorporated persons under common
control.--Under regulations prescribed by the
Secretary, principles similar to the principles
of clause (i) shall apply to a group of persons
under common control where 1 or more of such
persons is not a corporation.
(7) Other laws applicable.--All provisions of law,
including penalties, applicable with respect to the taxes
imposed by chapter 31 or 32 of such Code shall, insofar as
applicable and not inconsistent with the provisions of this
section, apply with respect to the floor stock taxes imposed by
paragraph (1) to the same extent as if such taxes were imposed
by such chapter.
Output:
Heavy Truck Tax Fairness Act of 2010 - Amends the Internal Revenue Code to: (1) repeal the excise tax on heavy trucks and trailers sold at retail; (2) increase the rate of tax on diesel fuel or kerosene to 31.6 cents per gallon; and (3) impose a floor stocks tax with respect to certain taxable fuels..