A bill to protect the U.S. from dependence upon foreign petroleum refineries by amending the Tariff Schedules of the United States to impose higher rates of duty on products derived from petroleum, by distributing the revenue from such increased rates of duty to States which consume such products.

Summary

Amends the Tariff Schedules of the United States to direct the President to establish an allocation and licensing program among importers of certain residual fuel oils and middle distillates which may be entered or withdrawn from warehouse for duty-free consumption. Specifies the percentage of 1976 imports of such products which may be entered or withdrawn from warehousing by importers. Increases the duty on certain crude petroleum products, middle distillate fuel oils, residual fuel oils, motor fuels, napthas, mineral oil, petroleum lubricants, and liquid hydrocarbon petroleum derivatives. Directs the Secretary of the Treasury to pay the amount of such duties collected on certain petroleum products to the State in which such products are first sold, based on importer reports made to the Federal Energy Administration.

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1 official file

• Introduced in Senate

  summary · EN · 10 January 1977

  Open at official source

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