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S. Rept. 114-27 1 (2015-04-14)

handle is hein.congrecreports/crptxshu0001 and id is 1 raw text is: AUT-ENTICATED US. GOVERNMENT INFORMATION GP Calendar No. 50 114TH CONGRESS REPORT 1st Session SENATE 114-27 LNG AND LPG EXCISE TAX EQUALIZATION ACT OF 2015 APRIL 14, 2015.-Ordered to be printed Mr. HATCH, from the Committee on Finance, submitted the following REPORT [To accompany S. 917] The Committee on Finance, having considered an original bill, S. 917, to amend the Internal Revenue Code of 1986 to equalize the excise tax on liquefied petroleum gas and liquefied natural gas, having considered the same, reports favorably thereon without amendment and recommends that the bill do pass. CONTENTS Page I. LEGISLATIVE BACKGROUND .................................................................... . 1 II. EXPLANATION OF THE BILL ..................................................................... 2 A. Equalization of Excise Tax on Liquefied Natural Gas and Lique- fied Petroleum Gas (sec. 1 of the bill and sec. 4041(a)(2) of th e C ode) ............................................................................................. 2 B. Increase Continuous Levy Authority on Payments to Medicare Providers and Suppliers (sec. 6331 of the Code) ............................. 4 III. BUDGET EFFECTS OF THE BILL ............................................................. 6 IV. VOTES OF THE COMM ITTEE ..................................................................... 8 V. REGULATORY IMPACT AND OTHER MATTERS .................................... 8 VI. CHANGES IN EXISTING LAW MADE BY THE BILL, AS REPORTED 9 I. LEGISLATIVE BACKGROUND The Committee on Finance, having considered S. 917, the LNG and LPG Excise Tax Equalization Act of 2015 to amend the Inter- nal Revenue Code of 1986 to equalize the excise tax on liquefied petroleum gas and liquefied natural gas, reports favorably thereon without amendment and recommends that the bill do pass. 49-010

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