A bill to amend the Internal Revenue Code of 1986 to allow for payments to certain individuals who dye fuel, and for other purposes.

3/12/2024, 7:59 AM

Summary of Bill S 1692

Bill 118 s 1692, also known as the "Fuel Dye Payment Act," is a proposed piece of legislation that aims to make changes to the Internal Revenue Code of 1986. The main purpose of this bill is to allow for payments to certain individuals who dye fuel.

The bill specifies that these payments would be made to individuals who are involved in the process of dyeing fuel, which is a common practice used to distinguish between different types of fuel for tax and regulatory purposes. The payments would be intended to compensate these individuals for their role in this process.

In addition to allowing for these payments, the bill also includes provisions for other purposes related to fuel dyeing. While the specific details of these provisions are not outlined in the summary, it can be inferred that they are likely aimed at addressing any potential issues or concerns related to the dyeing of fuel. Overall, the Fuel Dye Payment Act is a straightforward piece of legislation that seeks to provide financial support to individuals involved in the fuel dyeing process. It will be interesting to see how this bill progresses through the legislative process and what impact it may have on the fuel industry.

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Current Status of Bill S 1692

Bill S 1692 is currently in the status of Bill Introduced since May 18, 2023. Bill S 1692 was introduced during Congress 118 and was introduced to the Senate on May 18, 2023.  Bill S 1692's most recent activity was Read twice and referred to the Committee on Finance. as of May 18, 2023

Bipartisan Support of Bill S 1692

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
2
Democrat Cosponsors
0
Republican Cosponsors
2
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 1692

Primary Policy Focus

Taxation

Alternate Title(s) of Bill S 1692

A bill to amend the Internal Revenue Code of 1986 to allow for payments to certain individuals who dye fuel, and for other purposes.A bill to amend the Internal Revenue Code of 1986 to allow for payments to certain individuals who dye fuel, and for other purposes.
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Sponsors and Cosponsors of S 1692

Tammy Baldwin
Tammy Baldwin
Wisconsin(Democrat)
Ron Johnson
Ron Johnson
Wisconsin(Republican)

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To amend the Internal Revenue Code of 1986 to allow for payments to certain individuals who dye fuel, and for other purposes.
Bill HR 3524December 15, 2023