PUBLIC LAW 105-34—AUG. 5, 1997 111 STAT. 1051 use during any calendar year after 1995 shall be $5.35 increased by 45 cents for each year after 1995.". (2) Subsection (g) of section 4682 is amended to read as follows: " (g) CHEMICALS USED AS PROPELLANTS IN METERED-DOSE INHALERS. — "(1) EXEMPTION FROM TAX. — "(A) IN GENERAL. —No tax shall be imposed by section 4681 on— "(i) any use of any substance as a propellant in metered-dose inhalers, or "(ii) any qualified sale by the manufacturer, producer, or importer of any substance. "(B) QUALIFIED SALE. — For purposes of subparagraph (A), the term 'qualified sale' means any sale by the manufacturer, producer, or importer of any substance— "(i) for use by the purchaser as a propellant in metered dose inhalers, or "(ii) for resale by the purchaser to a 2d purchaser for such use by the 2d purchaser. The preceding sentence shall apply only if the manufac- Applicability, turer, producer, and importer, and the 1st and 2d purchasers (if anv) meet such registration requirements as may be prescrioed by the Secretary. "(2) OVERPAYMENTS. —I f any substance on which tax was f)aid under this subchapter is used by any person as a propelant in metered-dose inhalers, credit or refund without interest shall be allowed to such person in an amount equal to the tax so paid. Amounts payable under the preceding sentence with respect to uses during the taxable year shall be treated as described in section 34(a) for such year unless claim thereof has been timely filed under this paragraph.". SEC. 1433. SIMPLIFICATION OF IMPOSITION OF EXCISE TAX ON ARROWS. (a) IN GENERAL. —Subsection (b) of section 4161 (relating to imposition of tax) is amended to read as follows: "(b) Bows AND ARROWS, ETC. — "(1) Bows. — "(A) IN GENERAL.— T here is hereby imposed on the sale by the manufacturer, producer, or importer of any bow which has a draw weight of 10 pounds or more, a tax equal to 11 percent of the price for which so sold. "(B) PARTS AND ACCESSORIES. —T here is hereby imposed upon the sale by the msuiufacturer, producer, or importer— "(i) of any part of accessory suitable for inclusion in or attachment to a bow described in subparagraph (A), and "(ii) of any quiver suitable for use with arrows described in paragraph (2), a tax equivalent to 11 percent of the price for which so sold. "(2) ARROWS.—There is hereby imposed on the sale by the manufacturer, producer, or importer of any shaft, point, nock, or vane of a type used in the manufacture of any arrow which after its assembly—
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