; (B) by striking $500,000,000 in clause (ii) and inserting $1,000,000,000 ; and (C) by striking 1,000,000,000 per incident, etc in the heading and inserting Per incident limitations . (2) Inflation adjustment Section 9509(c)(2) of such Code is amended by adding at the end the following new subparagraph: (C) Inflation adjustments In the case of any calendar year beginning after December 31, 2019, the $2,000,000,000 amount in subparagraph (A)(i) and the $1,000,000,000 amount in subparagraph (A)(ii) shall each be increased by an amount equal to— (i) such dollar amount, multiplied by (ii) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year, by substituting 2018 for 2016 in subparagraph (A)(ii) thereof. Any increase determined under the preceding sentence shall be rounded to the nearest multiple of $100,000,000. . (e) Clarification of definition of crude oil for excise tax purposes (1) Definition of crude oil Paragraph (1) of section 4612(a) of the Internal Revenue Code of 1986 is amended to read as follows: (1) Crude oil The term crude oil includes crude oil condensates, natural gasoline, any bitumen or bituminous mixture, any oil derived from a bitumen or bituminous mixture. . (2) Effective date The amendment made by this subsection shall apply to oil and petroleum products received or entered during calendar quarters beginning more than 60 days after the date of the enactment of this Act.