Page:United States Statutes at Large Volume 79.djvu/176

 PUBLIC LAW 89-44-JUNE 21, 1965

136

[79 STAT.

Public Law 89-44 AN ACT To reiluce excise taxes, and for other purposes.

June 21, 1965 [H. R. 8371]

Excise Tax Reduction Act of 1965,

68A Stat. 3. 26 USC 1 etseq.

Be it enacted by the Semite and House of Representatives Uniisd States of America in Congress assembled,

of the

SECTION 1. SHORT TITLE, ETC.

(a) SHORT TITLE.—This Act may be cited as the "Excise Tax Reduction Act of 1965". (b) AMENDMENT OF 1954 CODE.—Except as otherwise expressly provided, whenever in this Act an amendment is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference is to a section or other provision of the Internal Revenue Code of 1954.

TITLE I—RETAILERS EXCISE TAXES 68A Stat. 473; 72 Stat. 1275, 1276.

72 Stat. 1277; 73 Stat. 617. 72 Stat. 1286.

72 Stat. 1305.

SEC. 101. REPEAL OF RETAILERS EXCISE TAXES. (a) IN GENERAL.—Subchapters A (relating to jewelry and related items), B (relating to furs), C (relating to toilet preparations), and D (relating to luggage, handbags, etc.) of chapter 31 are repealed. (b)

TECHNICAL AND CONFORMING AMENDMENTS.—

(1) The table of subchapters for chapter 31 is amended by striking out the items relating to subchapters A, B, C, and D. (2) Sections 4051 through 4053 are repealed and the table of sections for subchapter F of chapter 31 is amended by striking out the items relating to sections 4051,4052, and 4053. (3) Section 4055 is amended by striking o u t ", in the case of the tax imposed by section 4041,". (4) Section 4057(a) is amended by striking out ", in the case of a tax imposed by section 4041,". (5) Section 4224 (relating to exemption for articles taxable as jewelry) is repealed and the table of sections for subchapter G of chapter 32 is amended by striking out the item relating to section 4224. (6) Section 6011(c) (relating to return of retailers excise taxes by suppliers) is repealed.

TITLE II—MANUFACTURERS EXCISE TAXES SEC. 201. AUTOMOBILES AND AUTOMOBILE PARTS. 68A Stat. 4 8 1.

(a) PASSENGER AUTOMOBILES, ETC.—Paragraph (2) of section 4061(a) (relating to imposition of tax) is amended to read as follows: "(2)(A) Articles enumerated in subparagraph (B) are taxable at whichever of the following rates is applicable: "10 percent for the period ending on the date of the enactment of the Excise Tax Reduction Act of 1965. "7 percent for the period beginning with the day after the date of the enactment of the Excise Tax Reduction Act of 1965 through December 31, 1965. "6 percent for the period January 1, 1966, through December 31, 1966. "4 percent for the period January 1, 1967, through December 31, 1967. "2 percent for the period January 1, 1968, through December 31, 1968.

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