I
114th CONGRESS
2d Session
H. R. 5840
IN THE HOUSE OF REPRESENTATIVES
July 14, 2016
Mr. Jolly (for himself, Mr. Bilirakis, Mr. Austin Scott of Georgia, Mr. Kind, and Mr. Hultgren) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to provide a reduced excise tax rate for portable, electronically-aerated bait containers.
Short title
This Act may be cited as the Fishing Equipment Tax Relief Act of 2016
.
Three percent rate for portable, electronically-aerated bait containers
In general
Section 4161(a) of the Internal Revenue Code of 1986 is amended by redesignating paragraph (4) as paragraph (5) and by inserting after paragraph (3) the following new paragraph:
3 percent rate for portable, electronically-aerated bait containers
In the case of portable, electronically-aerated bait containers, paragraph (1) shall be applied by substituting 3 percent
for 10 percent
.
.
Effective date
The amendments made by this section shall apply to articles sold by the manufacturer, producer, or importer after December 31, 2016.