[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 1749 Introduced in Senate (IS)]

103d CONGRESS
  1st Session
                                S. 1749

      To amend the Internal Revenue Code of 1986 to exempt small 
 manufacturers, producers, and importers from the firearms excise tax.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

            November 20 (legislative day, November 2), 1993

 Mr. Packwood (for himself, Mr. Breaux, Mr. Heflin, and Mr. Murkowski) 
introduced the following bill; which was read twice and referred to the 
                          Committee on Finance

_______________________________________________________________________

                                 A BILL


 
      To amend the Internal Revenue Code of 1986 to exempt small 
 manufacturers, producers, and importers from the firearms excise tax.

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

SECTION 1. SMALL MANUFACTURERS EXEMPT FROM FIREARMS EXCISE TAX.

    (a) In General.--Section 4182 of the Internal Revenue Code of 1986 
(relating to exemptions) is amended by redesignating subsection (c) as 
subsection (d) and by inserting after subsection (b) the following new 
subsection:
    ``(c) Small Manufacturers, Etc.--
            ``(1) In general.--The tax imposed by section 4181 shall 
        not apply to any article described in such section if 
        manufactured, produced, or imported by a person who 
        manufactures, produces, and imports less than 50 of such 
        articles during the calendar year.
            ``(2) Controlled groups.--All persons treated as a single 
        employer for purposes of subsection (a) or (b) of section 52 
        shall be treated as one person for purposes of paragraph (1).''
    (b) Effective Date; Refunds.--
            (1) Effective date.--The amendments made by this section 
        shall apply to articles sold by the manufacturer, producer, or 
        importer after September 30, 1983.
            (2) Waiver of statute of limitations.--In the case of any 
        taxable year ending before the date of the enactment of this 
        Act--
                    (A) the period for claiming a credit or refund of 
                any overpayment of tax resulting from the application 
                of the amendments made by this section shall not expire 
                before the date which is 1 year after the date of the 
                enactment of this Act, and
                    (B) if, after the application of subparagraph (A), 
                credit or refund of any overpayment of tax resulting 
                from the application of the amendments made by this 
                section is prevented at any time before the close of 
                such 1-year period by the operation of any law or rule 
                of law (including res judicata), credit or refund of 
                such overpayment (to the extent attributable to the 
                application of the amendments made by this section) 
                may, nevertheless, be made or allowed if claim therefor 
                is filed before the close of such 1-year period.

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