Page:United States Statutes at Large Volume 79.djvu/178

 138

PUBLIC LAW 89-44-JUNE 21, 1965

[79 STAT.

No claim shall be allowed under this paragraph with respect to lubricating oil used during any taxable year unless filed by such ^person not later than the time prescribed by law for filing an mcome tax return for such taxable year. For purposes of this subsection, a person's taxable year shall be his taxable year for purposes of subtitle A, except that a person's first taxable year beginning after December 31, 1965, shall include the period after December 31, 1965, and before the oeginning of such first taxable year. "(2) EXCEPTION.—If $1,000 or more is payable under this section to any person with respect to lubricating oil used during any of the first three quarters of his taxable year, a claim may be filed under this section by such person with respect to lubricating oil used during such quarter. No claim filed under this paragraph shall be allowed unless filed on or before the last day of the first quarter following the quarter for which the claim is

Ante, p. 137.

"(c) EXEMPT SALES.—No amount shall be payable under this section with respect to any lubricating oil which the Secretary or his delegate determines was exempt from the tax imposed by section 4091. The amount which (but for this sentence) would be payable under this section with respect to any lubricating oil shall be reduced by any other amount which the Secretary or his delegate determines is payable under this section, or is refundable under any provision of this title, to any person with respect to such lubricating oil. "(d)

APPLICABLE LAWS.—

"(1) IN GENERAL.—All provisions of law, including penalties, applicable in respect of the tax imposed by section 4091 shall, insofar as applicable and not inconsistent with this section, apply in respect of the payments provided for in this section to the same extent as if such payments constituted refunds of overpayments of the tax so imposed. "(2)

68A Stat. 9 0 1.

EXAMINATION OF BOOKS AND WITNESSES.—For the purpose

of ascertaining the correctness of any claim made under this section, or the correctne* of any payment made in respect of any such claim, the Secretary or his delegate shall have the authority granted by paragraphs (1), (2), and (3) of section 7602 (relating to examination of books and witnesses) as if the claimant were the person liable for tax. " (e) REGULATiONs.-The Secretary or his delegate may by regulations prescribe the conditions, not inconsistent with the provisions of this section, under which payments may be made under this section. " (f) EFFECTIVE DATE.—This section shall apply only with respect to lubricating oil placed in use after December 31, 1965. "(g)

INCOME TAX CREDIT IJT L I E U OF PAYMENT.— "(1) PERSONS NOT SUBJECT TO INCOME TAX.—Payment shall be

made under subsection (a) only to— " (A) the United States or an agency or instrumentality thereof, a State, a political subdivision of a State, or an agency or instrumentality of one or more States or political subdivisions, or " (B) an organization exempt from tax under section 501 (a) (other than an organization required to make a return of the tax imposed under subtitle A for its taxable year). "(2) EXCEPTION.—Paragraph (1) shall not apply to a payment of A claim filed under subsection (b)(2).

�