118 STAT. 1614 PUBLIC LAW 108–357—OCT. 22, 2004 ‘‘(C) section 4081 with respect to aviation gasoline and aviation grade kerosene, and’’. (O) The last sentence of section 9502(b) is amended to read as follows: ‘‘There shall not be taken into account under paragraph (1) so much of the taxes imposed by section 4081 as are determined at the rate specified in section 4081(a)(2)(B).’’. (P) Subsection (b) of section 9508 is amended by striking paragraph (3) and by redesignating paragraphs (4) and (5) as paragraphs (3) and (4), respectively. (Q) Section 9508(c)(2)(A) is amended by striking ‘‘sec tions 4081 and 4091’’ and inserting ‘‘section 4081’’. (R) The table of subparts for part III of subchapter A of chapter 32 is amended to read as follows: ‘‘Subpart A. Motor and aviation fuels. ‘‘Subpart B. Special provisions applicable to fuels tax.’’. (S) The heading for subpart A of part III of subchapter A of chapter 32 is amended to read as follows: ‘‘Subpart A—Motor and Aviation Fuels’’. (T) The heading for subpart B of part III of subchapter A of chapter 32, as redesignated by paragraph (1), is amended to read as follows: ‘‘Subpart B—Special Provisions Applicable to Fuels Tax’’. (e) EFFECTIVE DATE.—The amendments made by this section shall apply to aviation grade kerosene removed, entered, or sold after December 31, 2004. (f) FLOOR STOCKS TAX.— (1) IN GENERAL.—There is hereby imposed on aviation grade kerosene held on January 1, 2005, by any person a tax equal to— (A) the tax which would have been imposed before such date on such kerosene had the amendments made by this section been in effect at all times before such date, reduced by (B) the sum of— (i) the tax imposed before such date on such ker osene under section 4091 of the Internal Revenue Code of 1986, as in effect on such date, and (ii) in the case of kerosene held exclusively for such person’s own use, the amount which such person would (but for this clause) reasonably expect (as of such date) to be paid as a refund under section 6427(l) of such Code with respect to such kerosene. (2) EXCEPTION FOR FUEL HELD IN AIRCRAFT FUEL TANK.— Paragraph (1) shall not apply to kerosene held in the fuel tank of an aircraft on January 1, 2005. (3) LIABILITY FOR TAX AND METHOD OF PAYMENT.— (A) LIABILITY FOR TAX.—The person holding the ker osene on January 1, 2005, to which the tax imposed by paragraph (1) applies shall be liable for such tax. (B) METHOD AND TIME FOR PAYMENT.—The tax imposed by paragraph (1) shall be paid at such time and in such 26 USC 4081 note. 26 USC 4041 note.
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