This bill helps certain boats by allowing them to buy alternative fuels without paying a tax. This change encourages maritime trade along the U.S. coasts.
This bill repeals the business tax credit for clean fuel production beginning in 2025. (Under current law, the business tax credit for clean fuel production is available for the production and sale of qualified transportation fuel between 2025 and 2027.)
1. This bill extends a tax exemption for alternative motorboat fuels. 2. The exemption applies to vessels operating along the Atlantic or Pacific coasts. 3. It allows these vessels to purchase fuel without paying an excise tax. 4. The change will take effect after December 31, 2025. 5. This aims to support maritime trade on U.S. coasts.
Boat operators and businesses involved in maritime trade on the Atlantic and Pacific coasts.