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.
About This Bill
Committee
Latest Action · September 29, 2023
Read twice and referred to the Committee on Finance.
The Maritime Fuel Tax Parity Act would extend a federal excise tax exemption on alternative motorboat fuels to certain vessels that operate along only one U.S. coast. Currently, vessels serving multiple coasts receive an exemption from the federal fuel tax, but this bill would expand that exemption to include vessels engaged in trade that operate exclusively between Atlantic or Pacific ports, including territories and possessions of the United States. The bill was introduced by Senator Hirono and two Alaska colleagues and would take effect retroactively as of January 1, 2022, potentially providing tax relief and refunds to qualifying maritime vessels. This change aims to create tax parity between domestic maritime operators regardless of whether their routes span multiple coasts or remain concentrated on a single coast.
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