Page:United States Statutes at Large Volume 81.djvu/179

 PUBLIC LAW 90-59-JULY 31, 1967

81 STAT.

145

Public Law 90-59 AN ACT To provide an extension of the interest equalization tax, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE, ETC. (a) SHORT TITLE.—This Act may be cited as the "Interest Equalization Tax Extension Act of 1967". (b) AMENDMENT OF 1954 CODE.—Except as otherwise expressly provided, whenever in this Act an amendment is expressed in terms of an amendment to a section or other provision, the reference is to a section or other provision of the Internal Revenue Code of 1954. SEC. 2. EXTENSION OF INTEREST EQUALIZATION TAX. Section 4911(d) is amended by striking out "July 31, 1967" and inserting in lieu thereof "July 31, 1969". SEC. 3. IMPOSITION OF TAX. (a) AMOUNT OF TAX.—Section 4911(b) is amended to read as follows: "(b)

AMOUNT OF T A X. —

"(1) RATES OF TAX.—Except as provided in paragraphs (2) and (3)— " (A) STOCK.—The tax imposed by subsection (a) on the acquisition of stock shall be equal to 15 percent of the actual value of the stock. "(B)

DEBT OBLIGATIONS.—The tax imposed by subsection

(a) on the acquisition of a debt obligation shall be equal to a percentage of the actual value of the debt obligation measured by the period remaining to its maturity and determined under column 11(A) of the following table: "I "If the period remaining to maturity i s —

II The tax, as a percentage of actual value, is—• (A)

At least 1 year, b u t less than 13^ years . _ _. _ At least 13^ years, b u t less than l]/^ v e a r s. At least 13^ years, b u t less than 1 ^ yearsA t least 1 % years, b u t less than 2)4, year s. _ _ „ At least 23^ years, b u t less than 2 ^ years _ _ _ _ A t least 2 ^ years, b u t less than 33^ year s. __ __. At least 33^2 years, b u t less than 43^ years _ . _ At least 43^ years, b u t less than 53^ years At least 53^ years, b u t less than 63^ years At least 63^ years, b u t less than 73^ years At least 73^ years, b u t less than 83^2 years _. At least 8 ^ years, b u t less than 93^2 years A t least 93^ years, b u t less than 103^2 years _ _ _ At least 103^ years, b u t less than 113^ year s, _ _ _ _ At least 113^ years, b u t less than 133^ year s. A t least 133^ years, b u t less than 163^ years __ _ At least 163^ years, b u t less than 183^ years At least 183^ years, b u t less than 213^ years __ A t least 213^ years, b u t less than 2334 year s.. At least 233^ years, b u t less than 263^ years A t least 263^ years, b u t less than 283^2 year s. __ _. 283^ years or more. _. _. _._

1.05 1.30 1.50 1.85 2.30 2.75 3.55 4.35 5.10 5.80 6.50 7.10 7.70 8.30 9.10 10.30 11.35 12.25 13.05 13.75 14.35 15.00

(B) 1.58 1.95 2.25 2.78 3.45 4.13 5.33 6.53 7.65 8.70 9.75 10.65 11.55 12.45 13.65 15.45 17.03 18.38 19.58 20.63 21.53 22.50

July 31, 1967 [H. R. 6098]

Interest E q u a l i z a t i o n T a x Extension Act of 1967.

79 Stat. 954. 26 USC 4 9 1 1.

78 Stat. 809.

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