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II
116TH CONGRESS
1ST SESSION
S. 1774
To amend the Internal Revenue Code of 1986 to provide for an energy
equivalent of a gallon of diesel in the case of liquefied natural gas
for purposes of the Inland Waterways Trust Fund financing rate.
IN THE SENATE OF THE UNITED STATES
JUNE 11, 2019
Mr. CASSIDY (for himself, Mr. BENNET, and Mr. YOUNG) introduced the
following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to provide
for an energy equivalent of a gallon of diesel in the
case of liquefied natural gas for purposes of the Inland
Waterways Trust Fund financing rate.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Waterway LNG Parity
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Act of 2019’’.
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•S 1774 IS
SEC. 2. LIQUEFIED NATURAL GAS EQUIVALENT FOR PUR-
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POSES OF INLAND WATERWAYS TRUST FUND
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FINANCING RATE.
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(a) IN GENERAL.—Section 4042(b)(2)(A) of the In-
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ternal Revenue Code of 1986 is amended to read as fol-
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lows:
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‘‘(A) The Inland Waterways Trust Fund
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financing rate is 29 cents per gallon (per en-
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ergy equivalent of a gallon of diesel, in the case
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of liquefied natural gas).’’.
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(b) ENERGY EQUIVALENT OF A GALLON OF DIE-
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SEL.—Section 4042(b) of the Internal Revenue Code of
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1986 is amended by adding at the end the following:
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‘‘(5) ENERGY EQUIVALENT OF A GALLON OF
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DIESEL
WITH
RESPECT
TO
LIQUEFIED
NATURAL
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GAS.—For purposes of paragraph (2)(A), the term
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‘energy equivalent of a gallon of diesel’ means 6.06
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pounds of liquefied natural gas.’’.
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(c) EFFECTIVE DATE.—The amendments made by
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this section shall apply to any sale or use of fuel during
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any calendar quarter beginning after the date of the enact-
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ment of this Act.
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Æ
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