Page:United States Statutes at Large Volume 83.djvu/688

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[83 STAT. 660]
[83 STAT. 660]
PUBLIC LAW 91-000—MMMM. DD, 1969

660

PUBLIC LAW 91-172-DEC. 30, 1969

[83 STAT.

SEC. 702. CONTINUATION OF EXCISE TAXES ON COMMUNICATION SERVICES AND ON AUTOMOBILES. (a) PASSENGER AUTOMOBILES.—

26 ulc 406^•

(^) ^ ^ GENERAL.—Section 4061(a)(2)(A) (relating to tax on passenger automobiles, etc.) is amended to read as follows: " (A) Articles enumerated in subparagraph (B) are taxable at whichever of the following rates is applicable: "If the article is sold— Before January 1, 1971 During 1971 During 1972 During 1973

gJltlT^ies^'

82 Stat. 265.

The 7 5 3 1

The tax imposed by this subsection shall not apply with respect to articles enumerated in subparagraph (B) which are sold by the manufacturer, producer, or importer after December 31, 1973." ^^^ CONFORMING AMENDMENT.—Section 6412(a)(1) (relating to floor stocks refunds on passenger automobiles, etc.) is amended by striking out "January 1, 1970, January 1, 1971, January 1, 1972, or January 1, 1973", and inserting in lieu thereof "January 1, 1971, January 1, 1972, January 1, 1973, or January 1, 1974". {b) COMMUNICATIONS SERVICES.— (1) CONTINUATION OF TAX.—Section 4251(a)(2)

(relating to tax on certain communications services) is amended by striking out the table and inserting in lieu thereof the following table:

"Amounts paid pursuant to bills first rendered— Before January 1, 1971 During 1971 During 1972 During 1973 (2) CONFORMING AMENDMENT.—Section 4251(b)

26 USC 4251

note

76 Stat. 963.

tax rate is— percent. percent percent. percent.

Percent— 10 5 3 1". (relating to

termination of tax) is amended by striking out "January 1, 1973", and inserting in lieu thereof "January 1, 1974". (3) EEPEAL OF SUBCHAPTER B OF CHAPTER 3 3.—Section 105(b)(3) of the Revenue and Expenditure Control Act of 1968 (82 Stat. 266) is amended to read as follows: "(3) REPEAL OF SUBCHAPTER B OF CHAPTER 33.—Effective with respect to amounts paid pursuant to bills first rendered on or after January 1, 1974, subchapter B of chapter 33 (relating to the tax on communications) is repealed. For purposes of the preceding sentence, in the case of communications services rendered before November 1, 1973, for which a bill has not been rendered before January 1, 1974, a bill shall be treated as having been first rendered on December 31, 1973. Effective January 1, 1974, the table of subchapters for chapter 33 is amended by striking out the item relating to such subchapter B." SEC. 703. TERMINATION OF INVESTMENT CREDIT. (a) IN GENERAL.—Subpart B of part IV of subchapter A of chapter 1 (relating to rules for computing credit for investment in certain depreciable property) is amended by adding at the end thereof the following new section: •'SEC. 49. TERMINATION OF CREDIT. " (a) GENERAL RULE.—For purposes of this subpart, the term 'section 38 property' does not include property— "(1) the physical construction, reconstruction, or erection of which is begun after April 18, 1969, or