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June 14, 2011, 8:00 pm ET - Amendment SA 476 proposed by Senator Reid for Senator Feinstein.
June 15, 2011, 8:00 pm ET - Considered by Senate.
June 16, 2011, 10:02 am ET - On the Amendment S.Amdt. 476 to S. 782 (Economic Development Revitalization Act of 2011)

Full Text of this Amendment

SA 476. Mr. REID (for Mrs. Feinstein (for herself and Mr. Coburn)) proposed an amendment to the bill S. 782, to amend the Public Works and Economic Development Act of 1965 to reauthorize that Act, and for other purposes; which was ordered to lie on the table; as follows:

At the end, add the following:
TITLE __--ETHANOL SUBSIDIES AND TARIFF REPEAL


SEC. X01. SHORT TITLE.
This title may be cited as the "Ethanol Subsidy and Tariff Repeal Act".
SEC. X02. REPEAL OF VEETC.
(a) Elimination of Excise Tax Credit or Payment.--
(1) Section 6426(b)(6) of the Internal Revenue Code of 1986 is amended by striking "December 31, 2011" and inserting "the later of June 30, 2011, or the date of the enactment of the Ethanol Subsidy and Tariff Repeal Act)".
(2) Section 6427(e)(6)(A) of such Code is amended by striking "December 31, 2011" and inserting "the later of June 30, 2011, or the date of the enactment the Ethanol Subsidy and Tariff Repeal Act".
(b) Elimination of Income Tax Credit.--
(1) IN GENERAL.--The table contained in section 40(h)(2) of the Internal Revenue Code of 1986 is amended--
(A) by striking "2011" and inserting "the later of June 30, 2011, or the date of the enactment of the Ethanol Subsidy and Tariff Repeal Act", and
(B) by adding at the end the following:








     
"After such date
 
zero
 
zero".



(2) CONFORMING AMENDMENT.--Section 40(h)(1) of such Code is amended by striking "calendar years 2001 through 2011" and inserting "the period beginning January 1, 2001, and ending the later of June 30, 2011, or the date of the enactment of the Ethanol Subsidy and Tariff Repeal Act".
(c) Repeal of Deadwood.--
(1) Section 40(h) of the Internal Revenue Code of 1986 is amended by striking paragraph (3).
(2) Section 6426(b)(2) of such Code is amended by striking subparagraph (C).
(d) Effective Date.--The amendments made by this section shall apply to any sale, use, or removal for any period after the later of June 30, 2011, or the date of the enactment of the Act.
SEC. X03. REMOVAL OF TARIFFS ON ETHANOL.
(a) Duty-Free Treatment.--Chapter 98 of the Harmonized Tariff Schedule of the United States is amended by adding at the end the following new subchapter:




















SUBCHAPTER XXIII
Heading/Subheading  Article Description  Rates of Duty 
   
    General  Special 
9823.01.01
 
Ethyl alcohol (provided for in subheadings 2207.10.60 and 2207.20) or any mixture containing such ethyl alcohol (provided for in heading 2710 or 3824) if such ethyl alcohol or mixture is to be used as a fuel or in producing a mixture of gasoline and alcohol, a mixture of a special fuel and alcohol, or any other mixture to be used as fuel (including motor fuel provided for in subheading 2710.11.15, 2710.19.15 or 2710.19.21), or is suitable for any such uses
 
Free
 
Free
 
20%.


(b) Conforming Amendments.--Subchapter I of chapter 99 of the Harmonized Tariff Schedule of the United States is amended--
(1) by striking heading 9901.00.50; and
(2) by striking U.S. notes 2 and 3.
(c) Effective Date.--The amendments made by this section apply to goods entered, or withdrawn from warehouse for consumption, on or after the later of June 30, 2011, or the date of the enactment of this Act.
(As printed in the Congressional Record for the Senate on Jun 15, 2011.)