| Home > 104th Congressional Bills > H.R. 1380 (rds) To provide a moratorium on certain class action lawsuits relating to the Truth in Lending Act. [Received in the Senate] ...
H.R. 1380 (rds) To provide a moratorium on certain class action lawsuits relating to the Truth in Lending Act. [Received in the Senate] ...
108th CONGRESS 1st Session H. R. 1380 To suspend the excise tax on aviation fuel used in commercial aviation during the period of hostilities with Iraq. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES March 20, 2003 Mr. Sessions (for himself, Mr. Foley, Mr. Tiahrt, Mr. Sullivan, Mr. Shimkus, Mr. Hall, Mr. Sam Johnson of Texas, Mr. LaHood, Mr. Shadegg, Mr. Sweeney, Mr. Tiberi, Mr. English, Mr. Cannon, Mrs. Myrick, Mr. Linder, Mr. Meeks of New York, Mr. Toomey, Mr. Smith of Texas, Mr. Mario Diaz-Balart of Florida, Mr. Hensarling, Ms. Dunn, Mr. Renzi, Mr. Brady of Texas, Mr. Dreier, and Mr. Fletcher) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To suspend the excise tax on aviation fuel used in commercial aviation during the period of hostilities with Iraq. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Travel Related Industries Protection Act of 2003''. SEC. 2. SUSPENSION OF EXCISE TAX ON AVIATION FUEL USED IN COMMERCIAL AVIATION. (a) In General.--Tax imposed under section 4091 of the Internal Revenue Code of 1986 by reason of section 4092(b)(2) of such Code shall be zero during the suspension period. (b) Definitions.--For purposes of this Act-- (1) Suspension period.--The term `suspension period' means the period beginning on the tax suspension date and ending on the suspension termination date. (2) Tax suspension date.--The term `tax suspension date' means the date of the enactment of this Act. (3) Suspension termination date.--The term `suspension termination date' means the date which is two years after the date of the enactment of this Act. SEC. 3. FLOOR STOCK REFUNDS. (a) In General.--If-- (1) before the tax suspension date, tax has been imposed under section 4091 of the Internal Revenue Code of 1986 by reason of section 4092(b)(2) of such Code on any liquid, and (2) on such date such liquid is held by a dealer and has not been used and is intended for sale, there shall be credited or refunded (without interest) to the person who paid such tax (hereafter in this section referred to as the ``taxpayer'') an amount equal to the tax paid by the taxpayer. (b) Time For Filing Claims.--No credit or refund shall be allowed or made under this section unless-- (1) claim therefor is filed with the Secretary of the Treasury before the date which is 6 months after the tax suspension date, and (2) in any case where liquid is held by a dealer (other than the taxpayer) on the tax suspension date-- (A) the dealer submits a request for refund or credit to the taxpayer before the date which is 3 months after the tax suspension date, and (B) the taxpayer files with the Secretary-- (i) a certification that the taxpayer has given, subsequent to receipt of the request for refund or credit from such dealer under subparagraph (A), a credit to such dealer with respect to such liquid against a purchase by the dealer of liquid from the taxpayer, and (ii) a certification by such dealer that such dealer has given, subsequent to the tax suspension date, a credit to a succeeding dealer (if any) with respect to such liquid against a purchase by the succeeding dealer of liquid from such dealer. (c) Reasonableness of Claims Certified.--Any certification made under subsection (b)(2)(B) shall include an additional certification that the claim for credit was reasonably based on the taxpayer's or dealer's past business relationship with the succeeding dealer. (d) Definitions.--For purposes of this section-- (1) the terms ``dealer'' and ``held by a dealer'' have the respective meanings given to such terms by section 6412 of such Code; except that the term ``dealer'' includes a producer, and (2) the term ``tax suspension date'' means the date which is the 7th day after the date of the enactment of this Act. (e) Certain Rules To Apply.--Rules similar to the rules of subsections (b) and (c) of section 6412 of such Code shall apply for purposes of this section. SEC. 4. FLOOR STOCKS TAX. (a) Imposition of Tax.--In the case of any liquid subject to tax under section 4091 of the Internal Revenue Code of 1986 by reason of section 4092(b)(2) of such Code and on which such tax would have been imposed but for section 2, and which is held on the suspension termination date, by any person, there is hereby imposed a floor stocks tax equal to the excess of the tax which would be imposed on such liquid had the taxable event occurred on such date over the tax previously paid (if any) on such liquid. (b) Liability for Tax and Method of Payment.-- (1) Liability for tax.--A person holding a liquid on the suspension termination date, to which the tax imposed by subsection (a) applies shall be liable for such tax. (2) Method of payment.--The tax imposed by subsection (a) shall be paid in such manner as the Secretary shall prescribe. (3) Time for payment.--The tax imposed by paragraph (1) shall be paid on or before 45 days after the suspension termination date. (c) Definitions.--For purposes of this section-- (1) Held by a person.--A liquid shall be considered as ``held by a person'' if title thereto has passed to such person (whether or not delivery to the person has been made). (2) Secretary.--The term ``Secretary'' means the Secretary of the Treasury or the Secretary's delegate. (d) Other Law Applicable.--All provisions of law, including penalties, applicable with respect to the taxes imposed by sections 4091 and 4092 of such Code shall, insofar as applicable and not inconsistent with the provisions of this section, apply with respect to the floor stock taxes imposed by subsection (a) to the same extent as if such taxes were imposed by such sections. <all>
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