Page:United States Statutes at Large Volume 70.djvu/447

 70 S T A T. ]

PUBLIC LAW 627-JUNE 29, 1956

391

"SEC. 4483. EXEMPTIONS. " (a)

STATE AND LOCAL GOVERNMENTAL EXEMPTION.—Under regula-

tions prescribed by the Secretary or his delegate, no tax shall be imposed by section 4481 on the use of any highway motor vehicle by any State or any political subdivision of a State. " (b) EXEMPTION FOR UNITED STATES.—The Secretary may authorize exemption from the tax imposed h^ section 4481 as to the use by the United States of any particular highway motor vehicle, or class of highway motor vehicles, if he determines that the imposition of such tax with respect to such use will cause substantial burden or expense which can be avoided by granting tax exemption and that full benefit of such exemption, if granted, will accrue to the United States. "(c) CERTAIN TRANSIT-TYPE BUSES.—Under regulations prescribed by the Secretary or his delegate, no tax shall be imposed by section 4481 on the use of any bus which is of the transit type (rather than of the intercity type) by a person who, for the last 3 months of the preceding year (or for such other period as the Secretary or his delegate may by regulations prescribe for purposes of this subsection), met the 60-percent passenger fare revenue test set forth in section 6421 (b)(2) as applied to the period prescribed for purposes of this subsection. "SEC. 44S4. CROSS REFERENCE. "For penalties and administrative provisions applicable to this subchapter, see subtitle F." (b) MODE AND T I M E OF COLLECTION OF TAX.—Section 6302(b) (relating to discretion as to method of collecting tax) is amended by inserting "section 4481 of chapter 36," after "33,". (c) TECHNICAL AMENDMENT.—The table of subchapters for chapter 36 is amended by adding at the end thereof the following:

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"Subchapter D. Tax on use of certain vehicles." SEC. 207. FLOOR STOCKS TAXES. (a) IMPOSITION OF TAXES.—Subchapter F of chapter 32 (special pro- j^g'^xfs^c t^i'i visions applicable to manufacturers excise taxes) is amended by re- 4226. numbering section 4226 as 4227 and by inserting after section 4225 the following new section: "SEC. 4226. FLOOR STOCKS TAXES. "(a)

IN GENERAL,— " (1) 1956 TAX ON TRUCKS, TRUCK TRAILERS, BUSES, ETC.—Oil any

article subject to tax under section 4061(a)(1) (relating to tax on trucks, truck trailers, buses, etc.) which, on July 1, 1956, is held by a dealer for sale, there is hereby imposed a floor stocks tax at the rate of 2 percent of the price for which the article was purchased by such dealer. If the price for which the article was sold by the manufacturer, producer, or importer is established to the satisfaction of the Secretary or his delegate, then in lieu of the amount specified in the preceding sentence, the tax imposed by this paragraph shall be at the rate of 2 percent of the price for which the article was sold by the manufacturer, producer, or importer. "(2) 1956 TAX ON TIRES OF THE TYPE USED ON HIGHWAY VEHICLES.—On tires subject to tax under section 4071(a)(1) (as amended by the Highway Revenue Act of 1956) which, on July 1, 1956, are held— " (A) by a dealer for sale, " (B) for sale on, or in connection with, other articles held by the manufacturer, producer, or importer of such other articles, or

Ante, p. 388.

Ante, p. 388.

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