168 68A Stat. 767,
PUBLIC LAW 89-44~JUNE 21, 1965
[79 STAT.
^^\ (j^) Section 6201(a) (relating to assessment authority of the Secretary or his delegate) is amended by adding at the end thereof the following new paragraph: " (4:) ERRONEOUS CREDIT FOR USE OF GASOLINE.—If on any return or claim for refund of income taxes under subtitle A there is an overstatement of the credit allowable by section 39 (relating to certain uses of gasoline and lubricating oil), the amount so overstated which is allowed against the tax shown on the return or which is allowed as a credit or refund may be assessed by the Secretary or his delegate in the same manner as in the case of a mathematical error appearing upon the return." (B) Section 6213(e) is amended by adding at the end thereof the following new paragraph: "(3) For assessment as if a mathematical error on the return, in the case of erroneous claims for credits under section 39, see section 6201(a)(4)."
(5)(A) Section 6211(b) (relating to rules for applying the definition of a deficiency) is amended by adding at the end thereof the following new paragraph: "(4) The tax imposed by subtitle A and the tax shown on the return shall both be determined without regard to the credit Ante, p. 167. under section 39, unless, without regard to such credit, the tax imposed by subtitle A exceeds the excess of the amount specified in subsection (a)(1) over the amount specified in subsection (a)(2)." 68A Stat. 340. ^ ^) Section 1314(a)(1)(A) (relating to ascertainment of amount of adjustment) and section 1481(o)(2)(A)(i) (relating to credit against repayment on account of renegotiation or allowance) are amended by striking out " (b)(1) and (3) " and inserting in lieu thereof " (b)(1), (3), and (4)". 68A Stat. 791. ^Q^ Section 6401 (relating to amounts treated as overpayments) is amended by striking out subsection (b) and inserting in lieu thereof the following: " (b) EXCESSIVE CREDITS UNDER SECTIONS 31 AND 39.—If the amount allowable as credits under sections 31 (relating to tax withheld on wages) and 39 (relating to certain uses of gasoline and lubricating oil) exceeds the tax imposed by subtitle A (reduced by the credits allowable under subpart A of part IV of subchapter A of chapter 1, other than the credits allowable under sections 31 and 39), the amount of such excess shall be considered an overpayment." (e) TRANSFERS FROM HIGHWAY TRUST FUND.—Section 209(f) of 23 USC*i2o note ^^^ Highway Revenue Act of 1956 (relating to expenditures from the Highway Trust Fund) is amended by adding at the end thereof the following new paragraph: " (6) TRANSFERS FROM THE TOUST FUND FOR INCOME TAX CREDITS ALLOWED FOR CERTAIN USES OF GASOLINE AND LUBRICATING O I L. — The
Secretary of the Treasury shall pay from time to time from the Trust F u n d into the general fund of the Treasury amounts equivalent to the credits allowed under section 39 of the Internal Revenue Code of 1954 (relating to credit for certain uses of gasoline and lubricating oil) with respect to gasoline and lubricating oil used before October 1, 1972. Such amounts shall be transferred on the basis of estimates by the Secretary of the Treasury, and proper adjustments shall be made in amounts subsequently transferred to the extent prior e s t i m a t e were in excess or less than the credits allowed." (f) EFFECTH^E DATES.—The amendments made by subsections (a) and (b) shall apply with respect to gasoline used on or after July 1, 1965. The amendments made by subsections (c) and (d) shall apply to taxable years beginning on or after July 1, 1965.
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