Page:United States Statutes at Large Volume 78.djvu/889

 78 STAT.]

847

PUBLIC LAW 88-564-SEPT. 2, 1964

penalty under subsection (a) or (c) shall be in lieu of any tax on the acquisition of such stock or debt obligation under section 4911." (b) CRIMINAL PENALTY.—Part II of subchapter A of chapter 75 (relating to penalties applicable to certain taxes) is amended by adding at the end thereof the following new section:

26 USC 72317240.

"SEC. 7241. PENALTY FOR FRAUDULENT EQUALIZATION TAX CERTIFICATES.

"Any person who, on or after the date of the enactment of the Interest Equalization Tax Act, willfully executes a certificate of American ownership or blanket certificate of American ownership described in section 4918(e), or a certificate of sales to foreign persons described in section 4919(b)(2), which is known by him to be fraudulent or to be false in any material respect shall be guilty of a misdemeanor and, upon conviction thereof, shall for each offense be fined not more than $1,000, or imprisoned not more than 1 year, or both." (c)

Ante,

p. 8 3 1.

CLERICAL AMENDMENTS.—

(1) The table of sections for subchapter B of chapter 68 is amended by adding at the end thereof the following: "Sec. 6680. Failure tofileInterest equalization tax returns. "Sec. 6681. False equalization tax certificates." (2) The table of sections for part II of subchapter A of chapter 75 is amended by adding at the end thereof the following: "Sec. 7241. Penalty for fraudulent equalization tax certificates." Approved September 2, 1964.

Public Law 88-564 AN ACT To amend the District of Columbia Sales Tax Act, as amended, relating to certain sales to common carriers or sleeping-car companies. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 114(b) of the District of Columbia Sales Tax Act, as amended (63 Stat. 112; D.C. Code, sec. 47-2601, par. 14(b)), is amended by adding at the end thereof the following: "(5) Sales to a common carrier or sleeping-car company by a corporation all of whose capital stock is owned by one or more common carriers or sleeping-car companies of tangible personal property, procured or acquired by such corporation outside the District, which consists of repair or replacement parts used for the maintenance or repair of any train operating principally without the District in the course of interstate commerce, or commerce between the District and a State, provided such sales are made in connection with the furnishing of terminal services pursuant to a written agreement entered into before January 1, 1963." Approved September 2, 1964.

September 2, 1964 [H. R. 8451]

D. C. Sales Tax Act, amendment.

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