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Tax exemption for alternative fuel extended to single-coast maritime vessels.

This Act extends the exemption from the federal excise tax on alternative motorboat fuels to certain vessels. Specifically, it applies to ships engaged in trade solely between Atlantic or Pacific ports of the United States (including territories). While primarily affecting maritime transport companies, this change could potentially reduce domestic shipping costs, which might eventually influence consumer prices for goods transported by sea.
Key points
Extends the excise tax exemption on alternative fuels to vessels operating exclusively between ports on either the Atlantic or Pacific coast.
The change aims to achieve tax parity for vessels serving only one coast compared to those already exempt.
The amendment applies retroactively to sales made after December 31, 2023.
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Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_2925
Sponsor: Rep. Bean, Aaron [R-FL-4]
Process start date: 2025-04-17