Page:United States Statutes at Large Volume 101 Part 2.djvu/1233

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101 STAT. 1330-439
101 STAT. 1330-439
PUBLIC LAW 100-000—MMMM. DD, 1987

PUBLIC LAW 100-203—DEC. 22, 1987

101 STAT. 1330-439

"(AKi) the Highway Trust Fund financing rate in the Case of dieselfuel, and "(ii) the Airport and Airway Trust Fund financing rate in the case of aviation fuel, and "(B) the Leaking Underground Storage Tank Trust Fund financing rate in the case of any taxable fuel. "(2) HIGHWAY TRUST FUND FINANCING RATE.—For purposes of paragraph (1), except as provided in subsection (c), the Highway Trust Fund financing rate is 15 cents per gallon. "(3) AIRPORT AND AIRWAY TRUST FUND FINANCING RATE.—For

purposes of paragraph (1), the Airport and Airway Trust Fund financing rate is 14 cents per gallon.

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"(4) LEAKING UNDERGROUND STORAGE TANK TRUST FUND FINANCING RATE.—For purposes of paragraph (1), the Leaking

Underground Storage Tank Trust Fund financing rate is 0.1 cent per gallon. "(5) TERMINATION OF RATES.—

"(A) The Highway Trust Fund financing rate shall not apply on and after October 1, 1993. (B) The Airport and Airway Trust Fund financing rate shall not apply on and after January 1, 1988. "(C) The Leaking Underground Storage Tank Trust Fund financing rate shall not apply during any period during which the Leaking Underground Storage Tank Trust Fund financing rate under section 4081 does not apply. "(c) REDUCED RATE OF TAX FOR DIESEL FUEL IN ALCOHOL MIXTURE,

ETC.—Under regulations prescribed by the Secretary— "(1) IN GENERAL.—The Highway Trust Fund financing rate shall be— "(A) 9 cents per gallon in the case of the sale of any mixture of diesel fuel if— ,.^ "(i) at least 10 percent of such mixture consists of alcohol (as defined in section 4081(c)(3)), and , "(ii) the diesel fuel in such mixture was not taxed under subparagraph (B), and "(B) 10 cents per gallon in the case of the sale of diesel fuel for use (at the time of such sale) in producing a mixture described in subparagraph (A). "(2) LATER SEPARATION.—If any person separates the diesel fuel from a mixture of the diesel fuel and alcohol on which tax was imposed under subsection (a) at a Highway Trust Fund financing rate equivalent to 9 cents a gallon by reason of this subsection (or with respect to which a credit or payment was allowed or made by reason of section 6427(fKl)), such person shall be treated as the producer of such diesel fuel. The amount of tax imposed on any sale of such diesel fuel by such person shall be 5 cents per gallon. "(3) TERMINATION.—Paragraph (1) shall not apply to any sale after September 30, 1993. "(d) EXEMPTION FROM TAX FOR AVIATION FUEL IN ALCOHOL MIXTURE, ETC.—

"(1) IN GENERAL.—The Airport and Airway Trust Fund financing rate shall not apply to the sale of— "(A) any mixture of aviation fuel at least 10 percent of which consists of alcohol (as defined in section 4081(c)(3)), or "(B) any aviation fuel for use (at the time of such sale) in producing a mixture described in subparagraph (A).

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