5-YEAR EXTENSION OF HIGHWAY TRUST FUND TAXES AND RELATED EXEMPTIONS.

SEC. 502. 5-YEAR EXTENSION OF HIGHWAY TRUST FUND TAXES AND RELATED EXEMPTIONS. (a) Extension of Taxes.— The following provisions of the Internal Revenue Code of 1986 are each amended by striking out “1988” each place it appears and inserting in lieu thereof “1993”: (1) Section 4041(a)(3) (relating to special fuels tax). (2) Section 4051(c) (relating to tax on heavy trucks and trailers sold at retail). (3) Section 4071(d) (relating to tax on tires and tread rubber). (4) Section 4081(e)(1) (as amended by the Tax Reform Act of 1986 and section 521(a)(1)(B) of the Superfund Revenue Act of 1986). (5) Sections 4481(e), 4482(c)(4), and 4482(d) (relating to highway use tax). 101 STAT. 257 (b) Extension of Exemptions, Etc.—The following provisions of the Internal Revenue Code of 1986 are each amended by striking out “1988” each place it appears and inserting in lieu thereof “1993”: (1) Section 4041(b)(2)(C) (relating to qualified methanol and ethanol fuel). (2) Section 4041(f)(3) (relating to exemption for farm use). (3) Section 4041(g) (relating to other exemptions). (4) Section 4221(a) (relating to certain tax-free sales). (5) Section 4483(f) (relating to termination of exemptions for highway use tax). (6) Section 6420(h) (relating to gasoline used on farms). (7) Section 6421(h) (relating to tax on gasoline used for certain nonhighway purposes or by local transit systems) (as in effect before its redesignation by section 1703(c) of the Tax Reform Act of 1986). (8) Section 6427(g)(5) (relating to advance repayment of increased diesel fuel tax). (9) Section 6427(m) (relating to fuels not used for taxable purposes) (as in effect before its redesignation by section 1703(e)(1) of the Tax Reform Act of 1986). (c) Extension of Reduced Rates of Tax on Fuels Containing Alcohol.— (1) Paragraph (3) of section 4041(k) of such Code (relating to fuels containing alcohol) is amended by striking out “December 31, 1992” and inserting in lieu thereof “September 30, 1993”. (2) Paragraph (4) of section 4081(c) of such Code (relating to gasoline mixed with alcohol), as amended by the Tax Reform Act of 1986, is amended by striking out “December 31, 1992” and inserting in lieu thereof “September 30, 1993”. (d) Other Provisions.— (1) Floor stocks refunds.—Paragraph (1) of section 6412(a) of such Code (relating to floor stocks refunds) is amended— (A) by striking out “1988” each place it appears and inserting in lieu thereof “1993”, and (B) by striking out “1989” each place it appears and inserting in lieu thereof “1994”. (2) Installment payments of highway use tax.—Paragraph (2) of section 6156(e) of such Code (relating to installment payments of tax on use of highway motor vehicles) is amended by striking out “1988” and inserting in lieu thereof “1993”.