S. 1026 — Tar Sands Tax Loophole Elimination Act

This section revises the definition of "crude oil" under the Oil Spill Liability Trust Fund excise tax provisions (i.e., the tax imposed by IRC § 4611(a) on crude oil received at U.S. refineries and certain imported petroleum products) to explicitly include crude oil condensates, natural gasoline, bitumen or bituminous mixtures, oil derived from such mixtures (including tar sands), and oil derived from kerogen-bearing sources (including oil shale); (2) authorizes the Secretary of the Treasury to classify additional fuel feedstocks or finished fuel products customarily transported by pipeline, vessel, railcar, or tanker truck as taxable crude oil or petroleum products if consistent with the Oil Pollution Act of 1990 definition of oil and produced in sufficient commercial quantities to pose a spill hazard; and (3) makes a conforming technical amendment by striking obsolete language from the definition of "United States." The amendments apply to fuel received on or after the date of enactment.