[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 348 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 348

   To preserve jobs in the boating industry by amending the Internal 
     Revenue Code of 1986 to repeal the luxury excise tax on boats.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 5, 1993

    Mr. Shaw (for himself, Mr. Cardin, Mr. Bonior, Mr. Tauzin, Mr. 
     Sundquist, Mr. Bacchus of Florida, Mr. Crane, Mrs. Johnson of 
Connecticut, Mr. Hughes, Ms. Snowe, Mr. Goss, Mr. Shays, Mr. Machtley, 
 Mr. McCrery, and Mr. Levin) introduced the following bill; which was 
              referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
   To preserve jobs in the boating industry by amending the Internal 
     Revenue Code of 1986 to repeal the luxury excise tax on boats.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Boating Industry Jobs Preservation 
Act of 1991''.

SEC. 2. REPEAL OF LUXURY EXCISE TAX ON BOATS.

    (a) In General.--Section 4002 of the Internal Revenue Code of 1986 
(relating to luxury tax on boats) is hereby repealed.
    (b) Conforming Amendments.--
            (1) Paragraph (2) of section 4004(b) of such Code is 
        amended--
                    (A) by striking ``, boat,'' in subparagraph 
                (A)(iii), and
                    (B) by striking ``, $100,000 in the case of a 
                boat,'' in subparagraph (B).
            (2) 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).
            (3) Subpart A of part I of subchapter A of chapter 31 of 
        such Code is amended by redesignating sections 4003 and 4004 as 
        sections 4002 and 4003, respectively.
            (4) Subsection (c) of section 4221 of such Code is amended 
        by striking ``4002(b), 4003(c), 4004(a)'' and inserting 
        ``4002(c), 4003(a)''.
            (5) Subsection (d) of section 4222 of such Code is amended 
        by striking ``4002(b), 4003(c), 4004(a)'' and inserting 
        ``4002(c), 4003(a)''.
            (6) The table of sections for subpart A of part I of 
        subchapter A of chapter 31 of such Code is amended by striking 
        the last 3 items and inserting the following:

                              ``Sec. 4002. Aircraft.
                              ``Sec. 4003. Rules applicable to subpart 
                                        A.''
    (c) Effective Date.--The amendments made by this section shall take 
effect on January 1, 1991.

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