Search Results for keywords:"maritime fuel tax parity act"

Search Results: keywords:"maritime fuel tax parity act"

S. 549 — To amend the Internal Revenue Code of 1986 to extend the exemption from the excise tax on alternative motorboat fuels sold as supplies for vessels or aircraft to include certain vessels serving only one coast.
February 12, 2025
Status:Introduced in Senate
Congress:119
Words:318
S. 549, titled the "Maritime Fuel Tax Parity Act," aims to amend the Internal Revenue Code of 1986. This bill proposes to expand the current exemption from excise tax on alternative motorboat fuels to include certain vessels that operate between the Atlantic or Pacific ports...
Simple Explanation
The Maritime Fuel Tax Parity Act wants to change the rules so some boats that travel between different ports on the Atlantic or Pacific coasts wouldn't have to pay a special fuel tax, starting after 2025.
H. R. 2925 — To amend the Internal Revenue Code of 1986 to extend the exemption from the excise tax on alternative motorboat fuels sold as supplies for vessels or aircraft to include certain vessels serving only one coast.
April 17, 2025
Status:Introduced in House
Congress:119
Words:318
H.R. 2925, titled the “Maritime Fuel Tax Parity Act,” proposes an amendment to the Internal Revenue Code of 1986. The bill aims to extend the existing tax exemption on alternative motorboat fuels, which are sold as supplies for vessels or aircraft. Specifically, this extension includes...
Simple Explanation
H.R. 2925 is a proposed law that wants to make it cheaper to use special fuels for boats that travel between ports on the same coast, like all along the East or West coast of the United States. They want to give these boats a tax break on the fuel they use, which means less money paid in taxes, but it's unclear which boats exactly get this deal.

Showing 1 to 2 of 2 results