Page:United States Statutes at Large Volume 59 Part 1.djvu/593

 575 59 STAT.] 79TH CONG. , IsT SESS.-CH. 453-NOV. 8, 1945 TITLE III-EXCISE TAXES SEC. 301. REPEAL OF USE TAX ON MOTOR VEHICLES AND BOATS.- Effective with respect to the period after June 30, 1946, chapter 33A (imposing a tax on the use of motor vehicles and boats) is 26 u.s. c. supp. repealed. IV, 350. SEC. 302. FLOOR STOCKS REFUNDS AND TECHNICAL PROVISIONS RELATING TO REDUCTION OF COMMUNICATIONS TAX. Chapter 9A (relating to war taxes and war tax rates) is amended by inserting at the end thereof the following: "SEC. 1656. FLOOR STOCKS REFUNDS ON DISTILLED SPIRITS, WINES, AND CORDIALS, AND FERMENTED MALT LIQUORS. "(a) IN GENERAL.-W ith respect to any article upon which tax is imposed under section 2800, 3030, or 3150, upon which internal revenue tax (including floor stocks taxes) at the rate prescribed in section 1650 has been paid, and which, on the rate reduction date (as defined in section 1659), is held by any person and intended for sale or for use in the manufacture or production of any article intended for sale, there shall be credited or refunded to such person (without interest), subject to such regulations as may be prescribed by the Commissioner with the approvalof the Secretary, an amount equal to the difference between the tax so paid and the tax that would have been paid if section 1650 and the 1944 floor stocks taxes had not been applicable, if claim for such credit or refund is filed with the Commissioner within thirty days after the rate reduction date. "(b) LIMITATIONS ON ELIGIBILTY FOR CREDIT OR REFuND.-NO per- son shall be entitled to credit or refund under subsection (a) unless (1) such person, for such period or periods both before and after the rate reduction date (but not extending beyond one year thereafter), as the Commissioner with the approval of the Secretary shall by regula- tions prescribe, makes and keeps, and files with the Commissioner, such records of inventories, sales, and purchases as may be prescribed in such regulations; and (2) such person establishes to the satisfaction of the Commissioner, with respect to each kind of article for which refund is claimed by him under this section, that on and after the rate reduction date and until the expiration of three months thereafter, the price at which articles of such kind were sold (until a number equal at least to the number on hand on the rate reduction date were sold) reflected, in such manner as the Commissioner may by regulations prescribe with the approval of the Secretary, the amount of the tax reduction. "(c) All provisions of law, including penalties, applicable in respect of internal revenue taxes on distilled spirits wines, liqueurs and cordials, imported perfumes containing distilled spirits, and fer- mented malt liquors shall, insofar as applicable and not inconsistent with this section, be applicable in respect of the credits and refunds provided for in this section to the same extent as if such credits or refunds constituted credits or refunds of such taxes. "SEC. 1657. FLOOR STOCKS REFUNDS ON ELECTRIC LIGHT BULBS "(a) IN GENRALW-With respect to any article upon which tax is imposed under section 3406 (a) (10), upon which internal revenue tax at the rate prescribed in section 1650 has been paid, and which, on the rate reduction date, is held by any person and intended for sale, or for use in the manufacture or production of any article intended for sale, there shall be credited or refunded to the manufacturer or producer of such article (without interest), subject to such regulations as may be prescribed by the Commissioner with the approval of the 54 Stat. 522. 26U.8 .. 1660; Supp. IV, 1650 et q. 63 Stat. 298, 347, 365. 26 U. S. C., Supp. IV 28, 2800, 3030, 310. 58 Stat. 61. 26 U. S. C., Supp. IV, § 1660. M Stat. 717. 26U. .. , Supp. IV, i 3406 (a) 10). 58 Stat. 6L 26U.8. ., Supp. IV, i 16.

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