Page:United States Statutes at Large Volume 110 Part 3.djvu/113

 PUBLIC LAW 104-188—AUG. 20, 1996 110 STAT. 1843 (B) Paragraph (3) of section 4041(c), as redesignated by paragraph (1), is amended by striking "paragraphs (1) and (2)" and inserting "paragraph (1)". (4) CONFORMING AMENDMENTS. — (A) Paragraph (1) of section 4041(k) is amended by adding "and" at the end of subparagraph (A), by striking ", and" at the end of subparagraph (B) and inserting a period, and by striking subparagraph (C). (B) Paragraph (1) of section 4081(d) is amended by striking "each rate of tax specified in subsection (a)(2)(A)" and inserting "the rates of tax specified in clauses (i) and (iii) of subsection (a)(2)(A)". (C) Sections 6421(f)(2)(A) and 9502(f)(1)(A) are each amended by striking "section 4041(c)(4)" and inserting "section 4041(c)(2)". (D) Paragraph (2) of section 9502(b) is amended by striking "14 cents" and inserting "15 cents". (h) FLOOR STOCKS TAXES ON AVIATION FUEL.— 26 USC 409i (1) IMPOSITION OF TAX.—In the case of aviation fuel on note. which tax was imposed under section 4091 of the Internal Revenue Code of 1986 before the teix-increase date described in paragraph (3)(A)(i) and which is held on such date by any person, there is hereby imposed a floor stocks tax of 17.5 cents per gallon. (2) LIABILITY FOR TAX AND METHOD OF PAYMENT. — (A) LIABILITY FOR TAX. — A person holding aviation fuel on a tax-increase date to which the tax imposed by paragraph (1) applies shall be liable for such tax. (B) METHOD OF PAYMENT.—The tax imposed by paragraph (1) shall be paid in such manner as the Secretary shall prescribe. (C) TIME FOR PAYMENT.—The tax imposed by paragraph (1) with respect to any taix-increase date shall be paid on or before the first day of the 7th month beginning after such tax-increase date. (3) DEFINITIONS. —For purposes of this subsection— (A) TAX INCREASE DATE. —The term "tax-increase date" means the date which is 7 calendar days after the date of the enactment of this Act. (B) AVIATION FUEL.— The term "aviation fuel" has the meaning given such term by section 4093 of such Code. (C) HELD BY A PERSON.—Aviation fuel shall be considered as "held by a person" if title thereto has passed to such person (whether or not delivery to the person . has been made). (D) SECRETARY.—The term "Secretary" means the Secretary of the Treasury or his delegate. (4) EXCEPTION FOR EXEMPT USES. —The tax imposed by paragraph (1) shall not apply to aviation fuel held by any person on any tax-increase date exclusively for any use for which a credit or refund of the entire tax imposed by section 4091 of such Code is allowable for aviation fuel purchased on or after such tax-increase date for such use. (5) EXCEPTION FOR CERTAIN AMOUNTS OF FUEL. — (A) IN GENERAL. —No tax shall be imposed by paragraph (1) on aviation fuel held on any tax-increase date by any person if the aggregate amount of aviation fuel

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