[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3652 Engrossed in House (EH)]


  1st Session

                               H. R. 3652

_______________________________________________________________________

                                 AN ACT

 To amend the Internal Revenue Code of 1986 to modify the taxation of 
                       imported archery products.
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
108th CONGRESS
  1st Session
                                H. R. 3652

_______________________________________________________________________

                                 AN ACT


 
 To amend the Internal Revenue Code of 1986 to modify the taxation of 
                       imported archery products.

    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 ``Archery Revenue Reform and 
Opportunity for Workers Act''.

SEC. 2. MODIFIED TAXATION OF IMPORTED ARCHERY PRODUCTS.

    (a) Bows.--Paragraph (1) of section 4161(b) of the Internal Revenue 
Code of 1986 (relating to bows) is amended to read as follows:
            ``(1) Bows.--
                    ``(A) In general.--There is hereby imposed on the 
                sale by the manufacturer, producer, or importer of any 
                bow which has a peak draw weight of 30 pounds or more, 
                a tax equal to 11 percent of the price for which so 
                sold.
                    ``(B) Archery equipment.--There is hereby imposed 
                on the sale by the manufacturer, producer, or 
                importer--
                            ``(i) of any part or accessory suitable for 
                        inclusion in or attachment to a bow described 
                        in subparagraph (A), and
                            ``(ii) of any quiver or broadhead suitable 
                        for use with an arrow described in paragraph 
                        (2),
                a tax equal to 11 percent of the price for which so 
                sold.''.
    (b) Arrows.--Subsection (b) of section 4161 of the Internal Revenue 
Code of 1986 (relating to bows and arrows, etc.) is amended by 
redesignating paragraph (3) as paragraph (4) and inserting after 
paragraph (2) the following:
            ``(3) Arrows.--
                    ``(A) In general.--There is hereby imposed on the 
                sale by the manufacturer, producer, or importer of any 
                arrow, a tax equal to 12 percent of the price for which 
                so sold.
                    ``(B) Exception.--In the case of any arrow of which 
                the shaft or any other component has been previously 
                taxed under paragraph (1) or (2)--
                            ``(i) section 6416(b)(3) shall not apply, 
                        and
                            ``(ii) the tax imposed by subparagraph (A) 
                        shall be an amount equal to the excess (if any) 
                        of--
                                    ``(I) the amount of tax imposed by 
                                this paragraph (determined without 
                                regard to this subparagraph), over
                                    ``(II) the amount of tax paid with 
                                respect to the tax imposed under 
                                paragraph (1) or (2) on such shaft or 
                                component.
                    ``(C) Arrow.--For purposes of this paragraph, the 
                term `arrow' means any shaft described in paragraph (2) 
                to which additional components are attached.''.
    (c) Conforming Amendments.--Section 4161(b)(2) of the Internal 
Revenue Code is amended--
            (1) by inserting ``(other than broadheads)'' after 
        ``point'', and
            (2) by striking ``Arrows.--'' in the heading and inserting 
        ``Arrow components.--''.
    (d) Effective Date.--The amendments made by this section shall 
apply to articles sold by the manufacturer, producer, or importer after 
February 15, 2004.

            Passed the House of Representatives December 8, 2003.

            Attest:

                                                                 Clerk.