Page:United States Statutes at Large Volume 84 Part 1.djvu/302

 244

^2 Stat. 737.

PUBLIC LAW 91-258-IVlAY 21, 1970

[84 STAT.

"(3) NAVIGABLE AIRSPACE OF THE UNITED STATES.—The term 'navigable airspace of the United States' has the definition given to such term by section 101(24) of the Federal Aviation Act of 1958 (49 XJ.S.C, sec. 1801 (24)), except that such term does not include the navigable airspace of the Commonwealth of Puerto Rico or of any possession of the United States. "SEC. 4493. SPECIAL RULES. " (a) PAYMENT OF TAX BY LESSEE.—

"(1) IN GENERAL,—Any person who is the lessee of any taxable civil aircraft on the day in any year on which occurs the first use which subjects such aircraft to the tax imposed by section 4491 for such year may, under regulations prescribed by the Secretary or his delegate, elect to be liable for payment of such tax. Notwithstanding any such election, if such lessee does not pay such tax, the lessor shall also be liable for payment of such tax. "(2) EXCEPTION.—No election may be made under paragraph (1) with respect to any taxable civil aircraft which is leased from a person engaged in the business of transporting persons or property for compensation or hire by air. commerce ^^"^

Post, p. 245.

" (b) CERTAIN

P E R S O N S E N G A G E D I N FoREIGN A l R COMMERCE.—•

"(1) ELECTION TO PAY TENTATIVE TAX.—Any person who is a significant user of taxable civil aircraft in foreign air commerce may, with respect to that portion of the tax imposed by section 4491 which is determined under section 4491(a)(2) on any taxable civil aircraft for any year beginning on or after July 1, 1970, elect to pay the tentative tax determined under paragraph (2). The payment of such tentative tax shall not relieve such person from payment of the net liability for the tax imposed by section 4491 on such taxable civil aircraft (determined as of the close of such year). "(2) TENTATIVE TAX.—For purposes of paragraph (1), the tentative tax with respect to any taxable civil aircraft for any year is an amount equal to that portion of the tax imposed by section 4491 on such aircraft for such year which is determined under section 4491(a)(2), reduced by a percentage of such amount equal to the percentage which the aggregate of the payments to which such person was entitled under section 6426 (determined without regard to section 6426(c)(2)) with respect to the preceding year is of the aggregate of the taxes imposed by section 4491 for which such person was liable for payment for the preceding year. I n the case of the year beginning on July 1, 1970, this subsection shall apply only if the person electing to pay the tentative tax establishes what the tentative tax would have been for such year if section 4491 had taken effect on July 1, 1969. "(3)

SIGNIFICANT USERS OF AIRCRAFT I N FORETGN AIR COM-

MERCE.—For purposes of paragraph (1), a person is a significant user of taxable civil aircraft in foreign air commerce for any year only if the aggregate of the payments to which such person was entitled under section 6426 (determined without regard to section 6426(c)(2)) with respect to the preceding year was at least 10 percent of the aggregate of the taxes imposed by section 4491 for which such person was liable for payment for the preceding year. "(4) N E T LIABILITY FOR TAX.—For purposes of paragraph (1), the net liability for the tax imposed by section 4491 with respect to any taxable civil aircraft for any year is— " (A) the amount of the tax imposed by such section, reduced by

�