Page:United States Statutes at Large Volume 75.djvu/164

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[75 Stat. 124]
[75 Stat. 124]
PUBLIC LAW 87-000—MMMM. DD, 1961

124 73 Stat. 613. 70 Stat. 396.

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PUBLIC LAW 87-61-JUNE 29, 1961

[75 S T A T.

(d) EEPEAL OF TEMPORARY PROVISIONS.—Sections 4041(f) and 4081 /p^ Qf gyjjj^ Code (relating to rates of t a r for the period beginning October 1, 1959, and ending June 30, 1961) are hereby repealed. ^Q^ CONFORMING AMENDMENT.—Section 6421(h) of such Code (relating to nonhighway or local transit use of gasoline) is amended by striking out "July 1, 1972" and inserting in lieu thereof "October 1, 1972". SEC. 202. INCREASE IN TAXES ON CERTAIN TIRES, TUBES, AND TREAD RUBBER. (a) TIRES.—Paragraph (1) of section 4071(a) of the Internal Revenue Code of 1954 (relating to tax on tires used on highway vehicles) is amended by striking out "8 cents a pound" and inserting in lieu thereof "10 cents a pound". (b) INNER TUBES,—Paragraph (3) of section 4071(a) of such Code (relating to tax on inner tubes for tires) is amended by striking out "9 cents a pound" and inserting in lieu thereof "10 cents a pound". (c) TREAD RUBBER.—Paragraph (4) of section 4071(a) of such Code (relating to tax on tread rubber) is amended by striking out "3 cents a pound and inserting in lieu thereof "5 cents a pound". (d) RATE REDUCTION I N 1972.—Subsection (c) of section 4071 of such Code (relating to rate reduction on July 1, 1972) is amended to read as follows: "(c) RATE REDUCTION.—On and after October 1, 1972— "(1) the tax imposed by paragraph (1) of subsection (a) shall be 5 cents a pound; "(2) the tax imposed by paragraph (3) of subsection (a) shall be & cents a pound; and "(3) paragraph (4) of subsection (a) shall not apply." SEC. 203. TAX ON USE OF CERTAIN VEHICLES. (a) INCREASE I N TAX.—Subsection (a) of section 4481 of the Internal Revenue Code of 1954 (relating to tax on use of certain vehicles) is amended by striking out "$1.50 a year" and inserting in lieu thereof "$3.00 a year". (b) PERIOD TAX I N EFFECT.— (1) EXTENSION FOR 3 MONTHS.—Section 4481(e) of such Code

(relating to period tax in effect) is amended by striking out "after June 30, 1956, and before July 1, 1972" and inserting in lieu thereof "before October 1, 1972". (2)

CONFORMING AMENDMENTS.—

(A) Section 4481(a) of such Code (relating to imposition of tax) is amended by adding at the end thereof the following new sentence: " I n the case of the taxable period beginning on July 1, 1972, and ending on September 30, 1972, the tax shall be at the rate of 75 cents for such period for each 1,000 pounds of taxable gross weight or fraction thereof." (B) Subsections (c) and (d) of section 4481 of such Code are amended to read as follows: "(c) PRORATION OF TAX.—If in any taxable period the first use of the highway motor vehicle is after the first month in such period, the tax shall be reckoned proportionately from the first day of the month in which such use occurs to and including the last day m such taxable period. "(d)

O N E TAX LIABILITY P E R PERIOD.—

"(1) IN GENERAL.—To the extent that the tax imposed by this section is paid with respect to any highway motor vehicle for any taxable period, no further tax shall be imposed by this section for such taxable period with respect to such vehicle.