12 2 STA T . 1 5 1 6PUBLIC LA W 11 0– 2 34—M A Y 22 , 200 8‘ ‘ (B)DET E RMINA TI O N .—Adet e rmina ti o nde sc ri b ed in t h iss u b p ara g raph w ith respect to an y ca l endar year is a determination , in consultation with the Administrator o f the E n v ironmental P rotection Agency, that an amount less than 7 , 50 0,000,000 gallons of ethanol (including cel - lulosic ethanol) has been produced in or imported into the U nited S tates in such year. ’ ’. (b) E XC I S E T AX C RE D IT.— ( 1 ) I N G ENERA L .—Subparagraph (A) of section 642 6(b)(2) (relating to alcohol fuel mi x ture credit) is amended by stri k ing ‘‘the applicable amount is 51 cents’’ and inserting ‘‘the applicable amount is— ‘‘(i) in the case of calendar years beginning before 200 9 , 51 cents, and ‘‘(ii) in the case of calendar years beginning after 200 8 , 45 cents.’’. (2) EXCE P TION.—Paragraph (2) of section 6426(b) is amended by adding at the end the following new subparagraph
‘‘(C) R ED U CTION DELA Y ED UNTIL ANNUAL PRODUCTION OR IMPORTATION O F7 , 50 0,000,000 GALLONS.—In the case of any calendar year beginning after 2008, if the Secretary makes a determination described in section 40(h)( 3 )(B) with respect to all preceding calendar years beginning after 2007, subparagraph (A)(ii) shall be applied by substituting ‘51 cents’ for ‘45 cents’.’’ (3) CONFORMING AMENDMENT.—Subparagraph (A) of section 6426(b)(2) is amended by striking ‘‘subparagraph (B)’’ and inserting ‘‘subparagraphs (B) and (C)’’. (c) EFFECTI V E DATE.—The amendments made by this section shall take effect on the date of the enactment of this Act. SEC.153 3 2 . C AL C U LA TION O FV OLU M E OF ALCO H OL FO R FUEL CRE D ITS. (a) IN G ENERAL.—Paragraph (4) of section 40(d) (relating to volume of alcohol) is amended by striking ‘‘5 percent’’ and inserting ‘‘2 percent’’. (b) CONFORMING AMENDMENT FOR EXCISE TAX CREDIT.—Section 6426(b) (relating to alcohol fuel mixture credit) is amended by redesignating paragraph (5) as paragraph (6) and by inserting after paragraph (4) the following new paragraph: ‘‘(5) V OLUME OF ALCO H OL.— F or purposes of determining under subsection (a) the number of gallons of alcohol with respect to which a credit is allowable under subsection (a), the volume of alcohol shall include the volume of any dena- turant (including gasoline) which is added under any formulas approved by the Secretary to the extent that such denaturants do not exceed 2 percent of the volume of such alcohol (including denaturants).’’. (c) EFFECTIVE DATE.—The amendments made by this section shall apply to fuel sold or used after December 31, 2008. SEC. 15333. ETHANOL TARIFF E X TENSION. H eadings 9901.00.50 and 9901.00.52 of the Harmoni z ed Tariff Schedule of the United States are each amended in the effective period column by striking ‘‘1 / 1/2009’’ and inserting ‘‘1/1/2011’’. 26USC40note. 26 USC 40 note. Ap p licab ilit y . 26 USC 6426.
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