II 110th CONGRESS 2d Session S. 3331 IN THE SENATE OF THE UNITED STATES July 24 (legislative day, July 23), 2008 Mr. Baucus (for himself and Mr. Crapo) 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 require that the payment of the manufacturers’ excise tax on recreational equipment be paid quarterly.

1.

Short title

This Act may be cited as the Firearms Fairness and Affordability Act.

2.

Time for payment of manufacturers’ excise tax on recreational equipment

(a)

In general

Subsection (d) of section 6302 of the Internal Revenue Code of 1986 (relating to mode or time of collection) is amended to read as follows: (d)

Time for payment of manufacturers’ excise tax on recreational equipment

The taxes imposed by subchapter D of chapter 32 of this title (relating to taxes on recreational equipment) shall be due and payable on the date for filing the return for such taxes. . (b)

Effective date

The amendment made by subsection (a) shall apply to articles sold by the manufacturer, producer, or importer after the date of the enactment of this Act.