[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 335 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 335

To amend the Internal Revenue Code of 1986 to repeal the luxury tax on 
                                 boats.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 5, 1993

   Mr. Roth 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 repeal the luxury tax on 
                                 boats.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. REPEAL OF LUXURY TAX ON BOATS.

    (a) General Rule.--Subpart A of part I of subchapter A of chapter 
31 of the Internal Revenue Code of 1986 (relating to luxury taxes) is 
amended by striking section 4002 and by redesignating sections 4003 and 
4004 as sections 4002 and 4003, respectively.
    (b) Conforming Amendments.--
            (1) The table of sections for such subpart A is amended by 
        striking the last 3 items and inserting the following:

                              ``Sec. 4002. Aircraft.
                              ``Sec. 4003. Rules applicable to subpart 
                                        A.''
            (2) Subparagraph (B) of section 4003(b)(2) of such Code, as 
        redesignated by subsection (a), is amended by striking ``, 
        $100,000 in the case of a boat,''.
            (3) Paragraph (2) of section 4011(c) of such Code is 
        amended--
                    (A) by striking ``, boats,'' in the heading,
                    (B) by striking ``, boat,'' in subparagraph (A), 
                and
                    (C) by striking ``a boat or'' in subparagraph 
                (B)(i).
            (4) Sections 4221(c) and 4222(d) of such Code are each 
        amended by striking ``4002(b), 4003(c), 4004(a)'' and inserting 
        ``4002(c), 4003(a)''.
    (c) Effective Date.--The amendments made by this section shall take 
effect on the date of the enactment of this Act.

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