H.R.5911 - Remove Incentives for Producing Ethanol Act of 2008110th Congress (2007-2008)
|Sponsor:||Rep. Flake, Jeff [R-AZ-6] (Introduced 04/29/2008)|
|Committees:||House - Ways and Means; Energy and Commerce|
|Latest Action:||04/30/2008 Referred to the Subcommittee on Energy and Air Quality. (All Actions)|
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Summary: H.R.5911 — 110th Congress (2007-2008)All Bill Information (Except Text)
Introduced in House (04/29/2008)
Remove Incentives for Producing Ethanol Act of 2008 or the RIPE Act of 2008 - Amends the Clean Air Act to repeal the renewable fuel standard.
Amends the Internal Revenue Code to terminate the excise tax credit for alcohol fuel mixtures and the income tax credit for alcohol used as fuel.
Amends the Harmonized Tariff Schedule of the United States to provide for the duty free treatment for ethyl alcohol or a mixture containing ethyl alcohol if it is to be used as fuel. Applies such treatment to goods entered, or withdrawn from warehouses for consumption, on or after the 15th day after this Act's enactment.