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Tax Exemption for Single-Coast Vessel Fuel

This act expands the excise tax exemption for alternative motorboat fuels to include vessels operating solely along one U.S. coast. This means shipping companies working on the Atlantic or Pacific coasts may pay less for fuel, potentially reducing the cost of transporting goods in those regions.
Key points
Extends excise tax exemption for fuel used by vessels operating only on one U.S. coast (Atlantic or Pacific).
The change applies to fuel sales made after December 31, 2021.
Could impact maritime shipping costs along U.S. coastlines.
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Additional Information
Print number: 118_HR_1044
Sponsor: Rep. Rutherford, John H. [R-FL-5]
Process start date: 2023-02-14