[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 339 Introduced in Senate (IS)]







108th CONGRESS
  1st Session
                                 S. 339

To amend the Internal Revenue Code of 1986 to simplify the application 
             of the excise tax imposed on bows and arrows.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           February 11, 2003

Mr. Baucus (for himself, Mr. Hatch, Mr. Miller, Mr. Grassley, Mr. Bayh, 
and Mr. Lugar) 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 simplify the application 
             of the excise tax imposed on bows and arrows.

    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 ``Arrow Excise Tax Simplification Act 
of 2003''.

SEC. 2. SIMPLIFICATION OF EXCISE TAX IMPOSED ON BOWS AND ARROWS.

    (a) Bows.--Section 4161(b)(1) 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 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 
                        (3),
                a tax equal to 11 percent of the price for which so 
                sold.''.
    (b) Arrows.--Section 4161(b) 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.--The tax imposed by subparagraph 
                (A) on an arrow shall not apply if the arrow contains 
                an arrow shaft subject to the tax imposed by paragraph 
                (2).
                    ``(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 Amendment.--The heading of section 4161(b)(2) of the 
Internal Revenue Code of 1986 (relating to arrows) is amended by 
striking ``Arrows.--'' 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 
December 31, 2003.
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