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Excise Tax Credit for Fuel Used by Concrete Pump Trucks.

This bill introduces a new excise tax credit (refund) for fuel consumed by specific heavy trucks, namely mobile mounted concrete boom pump vehicles. The credit applies only when the vehicle is stationary and using its engine to power the concrete pump machinery. This change aims to reduce operational costs for construction businesses.
Key points
Provides a partial refund of fuel excise tax for concrete pump trucks when they are operating their machinery on site.
The refund amount is capped at 55% of the tax rate imposed on the fuel used.
The new rules apply to fuel used in taxable years ending after December 31, 2024.
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Additional Information
To amend the Internal Revenue Code of 1986 to provide an excise tax credit for certain heavy trucks when operated in power take-off mode.
Print number: HR 9059
Sponsor: Rep. Blumenauer, Earl [D-OR-3]
Process start date: 2024-07-18