H.R.426 - RIPE Act of 2011112th Congress (2011-2012)
|Sponsor:||Rep. Flake, Jeff [R-AZ-6] (Introduced 01/25/2011)|
|Committees:||House - Ways and Means; Energy and Commerce|
|Latest Action:||02/09/2011 Referred to the Subcommittee on Energy and Power.|
This bill has the status Introduced
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Summary: H.R.426 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in House (01/25/2011)
Remove Incentives for Producing Ethanol Act of 2011 or the RIPE Act of 2011- 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 Applies such treatment to goods entered, or withdrawn from warehouses for consumption, on or after the 15th day after the enactment of this Act.