Summary: H.R.3850 — 100th Congress (1987-1988)All Information (Except Text)

There is one summary for H.R.3850. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (01/25/1988)

Amends the Internal Revenue Code with respect to the excise tax on diesel and aviation fuels. Prohibits imposition of the tax on the sale of these fuels to any purchaser (or purchaser for resale to a second purchaser) for use on a farm for farming purposes. (Although fuel sold for these purposes is tax-exempt under current law, provisions of the Revenue Act of 1987 require purchasers to pay the tax and subsequently apply for a refund based on nontaxable uses of the fuel.)