Page:United States Statutes at Large Volume 90 Part 2.djvu/346

 PUBLIC LAW 94-455—OCT. 4, 1976

90 STAT. 1814

documents and instruments subject to the tax, or for whose use o r benefit the same are made, signed, issued, o r sold. The United States or any agency or instrumentality thereof shall not be liable for the tax." (13) AMENDMENT OF SECTION 4493.—

26 USC 4493.

(A) Section 4 4 9 3 (b)(1) (relating to certain persons engaged in foreign a i r commerce) is amended by striking out "beginning on or after July 1, 1970". (B) Section 4 4 9 3 (b)(2) is amended by striking o u t the last sentence. (14) AMENDMENT OF CHAPTER 37.—So much of chapter 37 as precedes section 4501 (relating to tax on sugar) is amended to read as follows:

"CHAPTER 37—SUGAR "Sec. 4501. Imposition of tax. "Sec. 4502. Definitions. "Sec. 4503. Exemptions for sugar consumption."

26 USC

4811-4826.

26 USC 4881-4886. 26 USC 4901. 26 USC 4905.

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(relating to import taxes on oleomargarine) is repealed.

26 USC 26 USC

for

(15) R E P E A L OF SECTIONS 4591 THROUGH 4597.—Chapter 38

4591-4597. 4801-4806.

manufactured

(16) R E P E A L o r SECTIONS 4 8 0 I THROUGH 4 8 0 6. — Subchapter B

of chapter 39 (relating to tax on white phosphorus matches) is repealed. (17) R E P E A L OF SECTIONS 4811 THROUGH 4826.—Subchapter C of

chapter 39 (relating to tax on unadulterated butter) is repealed. ^

(18) R E P E A L OF SECTIONS 4 8 81 THROUGH 488 e.—Subchapter E of

chapter 39 (relating to tax on circulation other than of national banks) is repealed, (19) AMENDMENT OF SECTION 4901.—Section 4901 ( r e l a t i n g to

payment of occupational taxes) is amended by striking out subsection (c). (20) AMENDMENT OF SECTION 4905.—Section 4905(a) (relating to liability for occupational taxes in case of death o r change 01 location) is amended by striking out "wife" and inserting i n lieu thereof "spouse". (21) R E P E A L OP SECTION 4911 THROUGH 4931.—

26 USC 4911-4931. 26 USC 4911 note.

(A) Chapter 41 (relating to interest equalization tax) is repealed. (B) The repeal made by subparagraph (A) shall a p p l y with respect to acquisitions of stock and debt obligations made after June 30, 1974. (22) AMENDMENTS OF SECTION 4973.—

26 USC 4973.

(A) So much of section 4973(a) (relating to tax on excess contributions) as follows "of any individual," in paragraph (3) thereof is amended to read as follows: "there is imposed for each taxable year a tax in a n amount equal to 6 percent of the amount of the excess contributions to such individual's accounts, annuities, o r bonds (determined as of the close of the taxable year). The amount of such tax for any taxable year shall not exceed 6 percent of the value of the account, annuity, o r bond (determined as of the close of the taxable year). I n the case of an endowment contract described in section 4 0 8 (b), the tax imposed by this section does not apply to any amount allocable to life, health, accident, o r other insurance under such contract. The tax imposed by this subsection shall be paid by such individual."

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