PUBLIC LAW 103-66—AUG. 10, 1993 107 STAT. 511 (2) RATE.—Section 4042(b)(2) (relating to rates) is amended 26 USC 4042. by adding at the end the following new subparagraph: (C) The deficit reduction rate is 4.3 cents per gallon." (e) COMPRESSED NATURAL GAS.— (1) IN GENERAL.—Subsection (a) of section 4041 is amended by adding at the end thereof the following new paragraph: "(3) COMPRESSED NATURAL GAS.— "(A) IN GENERAL.—There is hereby imposed a tax on compressed natural gas— "(i) sold by any person to an owner, lessee, or other operator of a motor vehicle or motorboat for use as a fuel in such motor vehicle or motorboat, or "(ii) used by any person as a fuel in a motor vehicle or motorboat unless there was a taxable sale of such gas under claiise (i). The rate of the tax imposed by this paragraph shall be 48.54 cents per MCF (determined at standard temperature and pressure). (B) Bus USES.—No tax shall be imposed by this paragraph on any sale for use, or use, described in subparagraph (B) or (C) of section 6427(b)(2) (relating to school bus and intracity transportation). "(C) ADMINISTRATIVE PROVISIONS. — For purposes of applying this title with respect to the taxes imposed by this subsection, references to any liquid subject to tax under this subsection shall be treated as including ref- erences to compressed natural gas subject to tax under this paragraph, and references to gallons shall be treated as including references to MCF with respect to such gas." (2) EXEMPTION FROM LEAKING UNDERGROUND STORAGE TANK TRUST FUND TAX. —Paragraph (1) of section 4041(d) is amended by striking "subsection (a)" the second place it appears in the text and inserting "subsection (a)(1) or (2)". (f) CONFORMING AMENDMENTS. — (1) Paragraph (3) of section 4041(0 is hereby repealed. (2) Subsection (g) of section 4041 is amended by striking the last sentence (3) Subparagraphs (A) and (B) of section 4093(c)(2) are amended to read as follows: "(A) No EXEMPTION FROM CERTAIN TAXES ON FUEL USED IN DIESEL-POWERED TRAINS. —In the case of fuel sold for use in a diesel-powered train, paragraph (1) shall not apply to so much of uie t£uc imposed by section 4091 as is attributable to the Leaking Underground Storage Tank Trust Fund financing rate and the diesel fuel deficit reduction rate imposed under such section. The preceding sentence shall not apply in the case of fuel sold for exclusive use by a State or any political subdivision thereof. "(B) No EXEMPTION FROM LEAKING UNDERGROUND STORAGE TANK TRUST FUND TAXES ON FUEL USED IN COMMERCIAL AVIATION.—In the case of fuel sold for use in commercial aviation (other than supplies for vessels or aircraft within the meaning of section 4221(d)(3)), paragraph (1) also shall not apply to so much of the tax imposed by section 4091 as is attributable to the Leaking Undergroimd Storage Tank Trust Fund financing rate imposed by such section. For purposes of the preceding sentence.