1. Short title This Act may be cited as the Restoring Fuel Market Freedom Act of 2023 . 2. Amendment of 1986 Code Except as otherwise expressly provided, whenever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1986. 3. Repeal of Alcohol fuels credit (a) In general Section 40 is repealed. (b) Conforming amendments (1) Section 25C(d)(3)(B) is amended by inserting , as in effect on the day before the date of the enactment of the Restoring Fuel Market Freedom Act of 2023 after section 40 . (2) Section 38(b) is amended by striking paragraph (3). (3) Section 168(l)(2)(A) is amended by inserting as in effect on the day before the date of the enactment of the Restoring Fuel Market Freedom Act of 2023 after section 40(b)(6)(E) . (4) Section 196(c) is amended by striking paragraph (3). (5) Section 4101(a)(1) is amended by striking , and every person producing second generation biofuel (as defined in section 40(b)(6)(E)) . (6) Section 4014(a)(1) is amended by striking , 40, . (c) Clerical Amendment The table of sections for subpart D of part IV of subchapter A of chapter 1 of subtitle A is amended by striking the item relating to section 40. (d) Effective date The amendments made by this section shall apply to fuels produced after the date of the enactment of this section. 4. Repeal of biodiesels fuel credit (a) In general Section 40A is repealed. (b) Conforming amendments (1) Section 25C(d)(3)(A) is further amended by inserting , as in effect on the day before the date of the enactment of the Restoring Fuel Market Freedom Act of 2023 after section 40A . (2) Section 30C(C)(1)(B)(ii)(I) is amended by inserting (as in effect on the day before the date of the enactment of the Restoring Fuel Market Freedom Act of 2023 ) after section 40A(d)(1) . (3) Section 38(b) is further amended by striking paragraph (17). (4) Section 196(c) is further amended