S.917 - LNG and LPG Excise Tax Equalization Act of 2015114th Congress (2015-2016)
|Sponsor:||Sen. Hatch, Orrin G. [R-UT] (Introduced 04/14/2015)|
|Committees:||Senate - Finance|
|Committee Reports:||S. Rept. 114-27|
|Latest Action:||Senate - 04/14/2015 Placed on Senate Legislative Calendar under General Orders. Calendar No. 50. (All Actions)|
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Summary: S.917 — 114th Congress (2015-2016)All Information (Except Text)
Reported to Senate without amendment (04/14/2015)
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
LNG and LPG Excise Tax Equalization Act of 2015
(Sec. 2) This bill amends the Internal Revenue Code to equalize the excise tax on liquefied petroleum gas and liquefied natural gas by establishing a rate of 18.3 cents per energy equivalent of a gallon of gasoline for liquefied petroleum gas and 24.3 cents per energy equivalent of a gallon of diesel for liquefied natural gas.
(Sec. 3) The bill also increases from 30% to 35% the rate of the continuous levy on payments made after 180 days after the enactment date of this Act to Medicare providers and suppliers for unpaid taxes.