[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[S. 2109 Introduced in Senate (IS)]







104th CONGRESS
  2d Session
                                S. 2109

   To provide a 1-year delay in the imposition of penalties on small 
businesses failing to make electronic fund transfers of business taxes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

           September 24 (legislative day, September 20), 1996

  Mr. Daschle introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
   To provide a 1-year delay in the imposition of penalties on small 
businesses failing to make electronic fund transfers of business taxes.

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

SECTION 1. WAIVER OF PENALTY ON SMALL BUSINESSES FAILING TO MAKE 
              ELECTRONIC FUND TRANSFERS OF TAXES.

    No penalty shall be imposed under the Internal Revenue Code of 1986 
solely by reason of a failure by a person to use the electronic fund 
transfer system established under section 6302(h) of such Code if--
            (1) such person is a member of a class of taxpayers first 
        required to use such system on or after July 1, 1997, and
            (2) such failure occurs during the 1-year period beginning 
        on July 1, 1997.
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