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Internal Revenue Code, § 6430. Treatment Of Tax Imposed At Leaking Underground Storage Tank Trust Fund Financing Rate

No refunds, credits, or payments shall be made under this subchapter for any tax imposed at the Leaking Underground Storage Tank Trust Fund financing rate, except in the case of fuels—
I.R.C. § 6430(1)
which are exempt from tax under section 4081(a) by reason of section 4082(f)(2),
I.R.C. § 6430(2)
which are exempt from tax under section 4041(d) by reason of the last sentence of paragraph (5) thereof, or
I.R.C. § 6430(3)
with respect to which the rate increase under section 4081(a)(2)(B) is zero by reason of section 4082(e)(2).
(Added by Pub. L. 109-58, title XIII, Sec. 1362(b)(3)(A), Aug. 8, 2005, 119 Stat. 594; and amended by Pub. L. 110-172, Sec. 6(d)(2)(D), Dec. 29, 2007, 121 Stat 2473.)
BACKGROUND NOTES
AMENDMENTS
2007 - Pub. 110-172, Sec. 6(d)(2)(D), amended Sec. 6430. Before amendment, it read as follows:
“Sec. 6430. Treatment Of Tax Imposed At Leaking Underground Storage Tank Trust Fund Financing Rate.
“ No refunds, credits, or payments shall be made under this subchapter for any tax imposed at the Leaking Underground Storage Tank Trust Fund financing rate, except in the case of fuels destined for export.”
EFFECTIVE DATE OF 2007 AMENDMENT
Amendment by Sec. 6(d)(2)(D) of Pub. L. 110-172 effective as if included in the provisions of the Energy Policy Act of 2005 [Pub. L. 109-58, Sec. 1362] to which it relates.
EFFECTIVE DATE
Effective for fuel entered, removed, or sold after September 30, 2005.
FINANCING RATE
Sec. 6(d)(1)(C) of Pub. L. 110-172 provided that:
“(C) Notwithstanding section 6430 of the Internal Revenue Code of 1986, a refund, credit, or payment may be made under subchapter B of chapter 65 of such Code for taxes imposed with respect to any liquid after September 30, 2005, and before the date of the enactment of this Act [Enacted: Dec. 29, 2007] under section 4041(d)(1) or 4042 of such Code at the Leaking Underground Storage Tank Trust Fund financing rate to the extent that tax was imposed with respect to such liquid under section 4081 at the Leaking Underground Storage Tank Trust Fund financing rate.”