SA 3748. Mr. BAUCUS submitted an amendment intended to be proposed to amendment SA 3500 proposed by Mr. Harkin (for himself, Mr. Chambliss, Mr. Baucus, and Mr. Grassley) to the bill H.R. 2419, to provide for the continuation of agricultural programs through fiscal year 2012, and for other purposes; which was ordered to lie on the table; as follows:

On page 1488, strike lines 1 through 21, and insert following:
SEC. 12316. CALCULATION OF VOLUME OF ALCOHOL FOR FUEL CREDITS.
(a) In General.--Paragraph (4) of section 40(d) (relating to volume of alcohol) is amended by striking ``5 percent'' and inserting ``2 percent''.
(b) Conforming Amendment for Excise Tax Credit.--Section 6426(b) (relating to alcohol fuel mixture credit) is amended by redesignating paragraph (5) as paragraph (6) and by inserting after paragraph (4) the following new paragraph:
``(5) VOLUME OF ALCOHOL.--For purposes of determining under subsection (a) the number of gallons of alcohol with respect to which a credit is allowable under subsection (a), the volume of alcohol shall include the volume of any denaturant (including gasoline) which is added under any formulas approved by the Secretary to the extent that such denaturants do not exceed 2 percent of the volume of such alcohol (including denaturants).''.
(c) Effective Date.--The amendments made by this section shall apply to fuel sold or used after December 31, 2007.


(As printed in the Congressional Record for the Senate on Nov 15, 2007.)