This bill, titled the "Tar Sands Tax Loophole Elimination Act," amends the Internal Revenue Code of 1986 to explicitly include products derived from tar sands, bitumen, and oil shale within the definition of crude oil for federal excise tax purposes. Specifically, it expands the definition of "crude oil" in section 4612(a)(1) to encompass crude oil condensates, natural gasoline, any bitumen or bituminous mixture, oil from such mixtures (including tar sands), and oil from kerogen-bearing sources (including oil shale). This change aims to ensure these substances are subject to the existing federal excise tax on petroleum. Furthermore, the bill grants the Secretary of the Treasury new regulatory authority to include other fuel feedstocks or finished fuel products under the excise tax. This authority can be exercised if the Secretary determines that the classification is consistent with the definition of oil under the Oil Pollution Act of 1990 and that the product is produced in sufficient commercial quantities to pose a significant risk of hazard in the event of a discharge. These amendments are set to take effect upon the bill's enactment.