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 PUBLIC LAWS-CH. 412 -SEPT. 20, 1941 with the sale thereof), 5 per centum. A sale of an automobile truck, bus, or truck or bus trailer or semitrailer, shall, for the purposes of this subsection, be considered to be a sale of the chassis and of the body. "(b) Other automobile chassis and bodies, chassis and bodies for trailers or semitrailers suitable for use in connection with passenger automobiles, and motorcycles (including in each case parts or acces- sories therefor sold on or in connection therewith or with the sale thereof), except tractors, 7 per centum. A sale of an automobile, trailer, or semitrailer shall, for the purposes of this subsection, be considered to be a sale of the chassis and of the body." (b) INCREASE IN RATE ON PARTS AND EXCLUSION OF RADIOS FROM AUTOMOBILE TAx.- The first sentence of section 3403 (c) of the Inter- nal Revenue Code is amended to read as follows: "Parts or accessories (other than tires and inner tubes and other than radios) for any of the articles enumerated in subsection (a) or (b), 5 per centum." 3403 (c) CREDrrS ON ACCOUNT OF TIRE AND TUBE TAx.-Section 3403 (e) of the Internal Revenue Code is amended to read as follows: "(e) If tires or inner tubes on which tax has been imposed under this chapter are sold on or in connection with, or with the sale of, a chassis, body, or motorcycle, there shall (under regulations pre- scribed by the Commissioner, with the approval of the Secretary) be credited against the tax under this section an amount equal to, in the case of an article taxable under subsection (a), 5 per centum, and in the case of an article taxable under subsection (b), 7 per centum- "(1) of the purchase price (less, in the case of tires, the part of such price attributable to the metal rim or rim base) if such tires or inner tubes were taxable under section 3400 (relating to tax on tires and inner tubes); or "(2) if such tires or inner tubes were taxable under section 3444 (relating to use by manufacturer, producer, or importer) then of the price (less, in the case of tires, the part of such price attributable to the metal rim or rim base) at which such or similar tires or inner tubes are sold, in the ordinary course of trade, by manufacturers, producers, or importers thereof, as deter- mined by the Commissioner. In lieu of the rates of credit of 5 per centum and 7 per centum above provided, the rates, respec- tively, for the following periods, shall be as follows: "(A) With respect to the period after June 30, 1940, and before the effective date of the increase in tax on automobiles made by the Revenue Act of 1941, 22 per centum and 31/2 per centum; and "(B) With respect to the period before July 1, 1940, 2 per centum and 3 per centum." 3 (d) CREDrrs ON TERMINATION OF TAX.- Section 3403 (f) of the Internal Revenue Code (relating to credits and refunds on termina- tion of automobile tax) is repealed. SEC. 545. RADIOS, PHONOGRAPHS, RECORDS, AND MUSICAL IN- STRUMENTS. Section 3404 of the Internal Revenue Code is amended to read as follows: "SEC. 3404. TAX ON RADIO RECEIVING SETS, PHONOGRAPHS, PHONO- GRAPH RECORDS, AND MUSICAL INSTRUMENTS. "There shall be imposed upon the following articles (including in each case, except in the case of musical instruments, parts or acces- sories therefor sold on or in connection with the sale thereof) sold 53 Stat. 410. 26U.S.C. (c). 53 Stat. 410. 26U.S.C. (e). Post, p. 721. 53 Stat. 409. 26U.S.C.I Ante, p. 709. 53 stat. 418 . 26U.S.C.i Post, p. 721. 53 Stat. 411. 26U.S.C. (0. 53 Stat. 411 . 26U. S. C. 3404. [55 STAT. 712

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