Page:United States Statutes at Large Volume 48 Part 1.djvu/232

 206 73d CONGRESS. SESS. I. CH. 90. JUNE 16, 1933. constitute a revolving fund to be administered as directed by the President for the purposes of this section. RULES AND REGULA TIONS Rules and regula- SEC. 209 . The President is authorized to prescribe such rules tions to be prescribed. Penalty for v iola- and regulations as may be necessary to carry out the purposes of `'on'. this title, and any violation of any such rule or regulation shall be punishable by fine of not to exceed $500 or imprisonment not to exceed six months, or both. Issue of securities and ISSUE OF SECURITIES AND SINKING FUND sinking fund. Power of Secretary of Treasury to borrow. SEC. 210 . (a) The Secretary of the Treasury is authorized to. Vol.40,p. M. borr ow, fr om tim e to time, under the Se cond Libert y Bond Act, as amended, such amounts as may be necessary to meet the expendi- tures authorized by this Act, or to refund any obligations previously issued under this s ection, and to issue theref or bond s, not es, cer tifi- Additi onal amount cates of indebtedness, or Treasury bills of the United States. annually appropriated. (b) For each fiscal year beginning with the fiscal year 1934 there Vol.40,p. 1311. is hereby appropriated, in addition to and as part of, the cumulative sinking fund provided by section 6 of the Victory Liberty Loan Act, as amended, out of any money in the Treasury not otherwise appropriated, for the purpose of such fund, an amount equal to 21/2 per centum of the aggregate amount of the expenditures made out of appropriations made or authorized under this Act as deter- mined by the Secretary of the Treasury. Reemployment and relief taxes. Revenue Act of 1932. Vol.47, p. 266. Gasoline tax. Terms construed. Terms Ti tle IV-Ma nufac- turers' excise tax. Vol. 47, p. 259. Title V-Miscellane- ous taxes. Vol.47, p. 270. Tax on dividends. Vol.47,p. 178. Returns of withhold- ing corporation. REEMPLOYMENT AND RELIEF TAXES SEC. 211 . (a) Effective as of the day following the date of the enactment of this Act, section 617 (a) of the Revenue Act of 1932 is amended by striking out " 1 cent " and inserting in lieu thereof " 11/2 cents ". (b) Effective as of the da following th e date of the enactment of this Act, section 617 (c) (2) of such Act is amended by adding at the end thereof a new sentence to read as follows : "As used in this paragraph the term `be nzol' does no t include benz ol sold for use otherwise than as a fuel for the propulsion of motor vehicles, motor boats, or airplanes, and otherwise than in the manufacture or production of such fuel ." SEC. 212. Titles IV and V of the Revenue Act of 1932 are amended by striking out "1934 " wherever -appearing therein and by inserting in lieu thereof " 1935 ". Section 761 of the Revenue Act of 1932 is further amended by striking out " and on July 1 1933 " and inserting in lieu thereof " and on July 1, 1933, and on July 1, 1934,". SEC. 213 . (a) There is hereby imposed upon the receipt of divi- dends (required to be included in the gross income of the recipient under the provisions of the Revenue Act of 1932) by any person other than a domestic corporation, an excise tax equal to 5 per centum of the amount thereof, such tax to be deducted and withheld from such dividends by the payor corporation. The tax imposed by this section shall not apply to dividends declared before the date of the enactment of this Act. (b) Every corporation required to deduct and withhold any tax under this section shall, on or before the last day of the month fol- lowing the payment of the dividend, make return thereof and pay the tax to the collector of the district in which its principal place of business is located, or, if it has no principal place of business in the United States, to the collector at Baltimore, Maryland.