S. 2763 (is) To amend the Food Security Act of 1985 to permit owners and operators to use certain practices to meet the requirement for establishing approved vegetative cover on highly erodible cropland subject to conservation reserve contracts. [Introduc...

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108th CONGRESS
  2d Session
                                S. 2762

 To encourage the use of indigenous feedstock from the Caribbean Basin 
           region with respect to ethyl alcohol for fuel use.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July  22, 2004

  Mr. Grassley (for himself and Mr. Coleman) introduced the following 
  bill; which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To encourage the use of indigenous feedstock from the Caribbean Basin 
           region with respect to ethyl alcohol for fuel use.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. ETHYL ALCOHOL FOR FUEL USE.

    (a) In General.--Subparagraph (B) of section 423(c)(3) of the Tax 
Reform Act of 1986 (19 U.S.C. 2703 note) is amended to read as follows:
                    ``(B) The local feedstock requirement with respect 
                to any calendar year is--
                            ``(i) 0 percent with respect to the base 
                        quantity that is entered;
                            ``(ii) 30 percent with respect to the 
                        35,000,000 gallons of dehydrated alcohol and 
                        mixtures entered in excess of the base 
                        quantity; and
                          ``(iii) 50 percent with respect to all 
                        dehydrated alcohol and mixtures entered after 
                        the amount specified in clause (ii) is 
                        entered.''.
    (b) Base Quantity.--Clause (i) of section 423(c)(3)(C) of the Tax 
Reform Act of 1986 (19 U.S.C. 2703 note) is amended to read as follows:
                            ``(i) The term `base quantity' means, with 
                        respect to dehydrated alcohol and mixtures 
                        entered during any calendar year--
                                    ``(I) 90,000,000 gallons in the 
                                case of dehydrated alcohol and mixtures 
                                produced in a distillation facility 
                                located in a beneficiary country that 
                                was established before, and in 
                                operation on July 1, 2004; and
                                    ``(II) 0 gallons in the case of 
                                dehydrated alcohol and mixtures 
                                produced in any other distillation 
                                facility located in a beneficiary 
                                country.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to calendar years beginning after 2004.
                                 <all>

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