II 110th CONGRESS 2d Session S. 3055 IN THE SENATE OF THE UNITED STATES May 22, 2008 Mr. Wyden (for himself and Mr. Smith) 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 modify the rate of the excise tax on certain wooden arrows designed for use by children.

1.

Modification of rate of excise tax on certain wooden arrows designed for use by children

(a)

In general

Paragraph (2) of section 4161(b) of the Internal Revenue Code of 1986 (relating to arrows) is amended by redesignating subparagraph (B) as subparagraph (C) and by inserting after subparagraph (A) the following new subparagraph: (B)

Exemption for certain wooden arrow shafts

Subparagraph (A) shall not apply to any shaft consisting of all natural wood with no laminations or artificial means of enhancing the spine of such shaft (whether sold separately or incorporated as part of a finished or unfinished product) of a type used in the manufacture of any arrow which after its assembly— (i)measures 5/16 of an inch or less in diameter, and (ii)is not suitable for use with a bow described in paragraph (1)(A). . (b)

Effective date

The amendments made by this section shall apply to shafts first sold after the date of enactment of this Act.