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

This Act may be cited as the ''Small Business Fuel Cost Relief Act
of 2005''.

SEC. 2. TEMPORARY CREDIT AGAINST INCOME TAX FOR SMALL BUSINESSES,
FARMERS, AND FISHERMEN TO OFFSET HIGH FUEL COSTS.

(a) In General.--Subpart D of part IV of subchapter A of chapter 1
of the Internal Revenue Code of 1986 (relating to business-related
credits) is amended by inserting after section 45M the following new
section:

''SEC. 45N. TEMPORARY CREDIT FOR SMALL BUSINESSES, FARMERS, AND
FISHERMEN TO OFFSET HIGH FUEL COSTS.

''(a) Allowance of Credit.--In the case of an eligible taxpayer,
the excessive fuel cost credit determined under this section is an
amount equal to the excessive fuel cost paid or incurred by the
taxpayer during the taxable year for any creditable fuel used in any
trade or business of the taxpayer.
''(b) Excessive Fuel Cost.--For purposes of this section--
''(1) In general.--The term 'excessive fuel cost' means,
with respect to any creditable fuel, the excess (if any) of--
''(A) the amount paid or incurred by the taxpayer
for such fuel, over
''(B) the adjusted base price for such fuel.
''(2) Adjusted base price.--
''(A) In general.--The term 'adjusted base price'
means, with respect to any creditable fuel, the amount
determined by the Secretary to be the applicable Labor
Day 2004 price for such fuel adjusted for inflation.
''(B) Applicable price.--The applicable Labor Day
2004 price for any fuel is the average price for such
fuel for the region in which the taxpayer purchased
such fuel (as determined using data of the Energy
Information Agency of the Department of Energy).
''(C) Inflation adjustment.--The inflation
adjustment shall be determined under the principles of
section 1(f); except that, the Secretary shall use
estimates of the monthly Consumer Price Index (as
defined in such section) where possible to more closely
reflect current inflation.
''(c) Eligible Taxpayer.--For purposes of this section--
''(1) In general.--The term 'eligible taxpayer' means any
person engaged in a trade or business if--
''(A) such trade or business is--
''(i) a farming business (as defined by
section 263A(e)(4), or
''(ii) commercial fishing (as defined in
section 3 of the Magnuson-Stevens Fishery
Conservation and Management Act (16 U.S.C.
1802)), or
''(B) such person is a small business.
''(2) Small business.--The term 'small business' means a
corporation or partnership which meets the gross receipts test
of section 448(c) for the taxable year (or, in the case of a
sole proprietorship, which would meet such test if such
proprietorship were a corporation).
''(3) Creditable fuel.--The term 'creditable fuel' means--
''(A) gasoline,
''(B) diesel fuel,
''(C) heating oil, and
''(D) natural gas.
''(d) Adjustment of Standard Mileage Rate.--An eligible taxpayer
may elect, in lieu of the credit under this section, a standard mileage
allowance under section 162 equal to 60 cents for each mile traveled
during the period described in subsection (e). The Secretary shall
modify the standard mileage rate under the preceding sentence to the
extent that 60 cents does not accurately reflect that value of the
credit under this section.
''(e) Application of Section.--This section shall apply to fuels
purchased during the 2-year period beginning on the date of the
enactment of this section.''.
(b) Credit to Be Part of General Business Credit.--Subsection (b)
of section 38 of such Code is amended by striking ''plus'' at the end
of paragraph (23), by striking the period at the end of paragraph (24)
and inserting '', plus'', and by adding at the end the following new
paragraph:
''(25) in the case of an eligible taxpayer (as defined in
section 45N(c)), the excessive fuel cost credit determined
under section 45N(a).''.
(c) Clerical Amendment.--The table of sections for subpart D of
part IV of subchapter A of chapter 1 of such Code is amended by
inserting after the item relating to section 45M the following new
item:

''Sec. 45N. Temporary credit for small businesses, farmers, and
fishermen to offset high fuel costs.''.
(d) Effective Date.--The amendments made by this section shall
apply to taxable years ending after the date of the enactment of this
Act.
A:
Small Business Fuel Cost Relief Act of 2005 - Amends the Internal Revenue Code to allow certain commercial farmers, fishermen, and small business owners a temporary two-year business tax credit for excessive fuel cost (i.e., for gasoline, diesel fuel, heating oil, and natural gas. Defines "excessive fuel cost" as the amount currently paid for fuel over the Labor Day 2004 price for such fuel, adjusted for inflation.

Allows taxpayers a standard automobile mileage allowance of 60 cents per mile in lieu of the tax credit provided by this Act.