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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.
Summary
The Maritime Fuel Tax Parity Act amends the Internal Revenue Code to extend the existing exemption from federal excise taxes on alternative motorboat fuels. The bill expands the exemption to include fuel sold for use by vessels engaged in trade exclusively between Atlantic or Pacific ports of the United States, including US territories and possessions. Previously, the exemption applied to vessels engaged in broader international or multi-coast trade; this change allows single-coast trading vessels to also qualify. The exemption applies to fuel sold for use or used after December 31, 2025. This change aims to provide tax parity for maritime vessels operating along a single coast by treating their fuel purchases the same as those of multi-coast trading vessels.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Murkowski, Lisa [R-AK] (R-AK)
2 cosponsors
- Sen. Hirono, Mazie K. [D-HI] (D-HI)
- Sen. Sullivan, Dan [R-AK] (R-AK)
Actions (2)
- Feb 12, 2025 Read twice and referred to the Committee on Finance. · senate
- Feb 12, 2025 Introduced in Senate
Similar bills (6)
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Full text
IN THE SENATE OF THE UNITED STATES
February 12, 2025
Ms. Murkowski (for herself, Ms. Hirono, and Mr. Sullivan) 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 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.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Maritime Fuel Tax Parity Act”.
SEC. 2. EXEMPTION FROM EXCISE TAX ON ALTERNATIVE MOTORBOAT FUELS EXTENDED TO INCLUDE CERTAIN VESSELS SERVING ONLY ONE COAST.
(a) In General.—Section 4041(g) of the Internal Revenue Code of 1986 is amended by adding at the end the following new sentence: “For purposes of subsection (a)(2), the exemption under paragraph (1) shall also apply to fuel sold for use or used by a vessel which is both described in section 4042(c)(1) and actually engaged in trade between the Atlantic or Pacific ports of the United States (including any territory or possession of the United States).”.
(b) Effective Date.—The amendment made by this section shall apply to fuel sold for use or used after December 31, 2025. <all>
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