Maritime Fuel Tax Parity Act

Bill 119 s 549, also known as the Alternative Motorboat Fuels Exemption Extension Act, aims to amend the Internal Revenue Code of 1986. The main purpose of this bill is to extend the exemption from the excise tax on alternative motorboat fuels that are sold as supplies for vessels or aircraft.

Specifically, this bill seeks to include certain vessels that serve only one coast in this exemption. This means that these vessels would not be subject to the excise tax on alternative motorboat fuels when they are used as supplies for their operations.

The rationale behind this amendment is to provide relief to certain vessels that operate along a single coast and rely on alternative motorboat fuels for their operations. By extending this exemption, the bill aims to support these vessels and promote the use of alternative fuels in the maritime industry. Overall, Bill 119 s 549 is a targeted amendment to the Internal Revenue Code that seeks to provide financial relief to certain vessels while also encouraging the use of alternative motorboat fuels in the maritime sector.