Page:United States Statutes at Large Volume 118.djvu/1637

 118 STAT. 1607 PUBLIC LAW 108–357—OCT. 22, 2004 (A) was submitted for approval to the Federal Transit Administration (an agency of the Department of Transpor tation) after June 30, 2003, and before March 13, 2004, (B) is approved by the Federal Transit Administration before January 1, 2006, and (C) includes a description of such property and the value of such property. (3) EXCHANGES AND CONVERSION OF TAX EXEMPT USE PROP ERTY.—Section 470(e)(4) of the Internal Revenue Code of 1986, as added by section 848, shall apply to property exchanged or converted after the date of the enactment of this Act. (4) INTANGIBLES AND INDIAN TRIBAL GOVERNMENTS.—The amendments made subsections (b)(2), (b)(3), and (e) of section 847, and the treatment of property described in clauses (ii) and (iii) of section 470(c)(2)(B) of the Internal Revenue Code of 1986 (as added by section 848) as tangible property, shall apply to leases entered into after October 3, 2004. Subtitle C—Reduction of Fuel Tax Evasion SEC. 851. EXEMPTION FROM CERTAIN EXCISE TAXES FOR MOBILE MACHINERY. (a) EXEMPTION FROM TAX ON HEAVY TRUCKS AND TRAILERS SOLD AT RETAIL.— (1) IN GENERAL.—Section 4053 (relating to exemptions) is amended by adding at the end the following new paragraph: ‘‘(8) MOBILE MACHINERY.—Any vehicle which consists of a chassis— ‘‘(A) to which there has been permanently mounted (by welding, bolting, riveting, or other means) machinery or equipment to perform a construction, manufacturing, processing, farming, mining, drilling, timbering, or similar operation if the operation of the machinery or equipment is unrelated to transportation on or off the public highways, ‘‘(B) which has been specially designed to serve only as a mobile carriage and mount (and a power source, where applicable) for the particular machinery or equipment involved, whether or not such machinery or equipment is in operation, and ‘‘(C) which, by reason of such special design, could not, without substantial structural modification, be used as a component of a vehicle designed to perform a function of transporting any load other than that particular machinery or equipment or similar machinery or equipment requiring such a specially designed chassis.’’. (2) EFFECTIVE DATE.—The amendment made by this sub section shall take effect on the day after the date of the enact ment of this Act. (b) EXEMPTION FROM TAX ON USE OF CERTAIN VEHICLES.— (1) IN GENERAL.—Section 4483 (relating to exemptions) is amended by redesignating subsection (g) as subsection (h) and by inserting after subsection (f) the following new subsection: ‘‘(g) EXEMPTION FOR MOBILE MACHINERY.—No tax shall be imposed by section 4481 on the use of any vehicle described in section 4053(8).’’. 26 USC 4053 note. Applicability. Applicability.

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