EXCISE TAX CREDIT EQUIVALENCY FOR LIQUIFIED PETROLEUM GAS AND LIQUIFIED NATURAL GAS.

SEC. 342. EXCISE TAX CREDIT EQUIVALENCY FOR LIQUIFIED PETROLEUM GAS AND LIQUIFIED NATURAL GAS. (a) [26 U.S.C. 6426] In General.—Section 6426 is amended by adding at the end the following new subsection: “(j) Energy Equivalency Determinations for Liquefied Petroleum Gas and Liquefied Natural Gas.—For purposes of determining any credit under this section, any reference to the number of gallons of an alternative fuel or the gasoline gallon equivalent of such a fuel shall be treated as a reference to— “(1) in the case of liquefied petroleum gas, the energy equivalent of a gallon of gasoline, as defined in section 4041(a)(2)(C), and “(2) in the case of liquefied natural gas, the energy equivalent of a gallon of diesel, as defined in section 4041(a)(2)(D).” . (b) [26 U.S.C. 6426 note] Effective Date.—The amendments made by this section shall apply to fuel sold or used after December 31, 2015.