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S. 1291: Fishing Equipment Tax Relief Act of 2019


The text of the bill below is as of May 2, 2019 (Introduced).


II

116th CONGRESS

1st Session

S. 1291

IN THE SENATE OF THE UNITED STATES

May 2, 2019

(for himself and Mr. Scott of Florida) 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 provide a reduced excise tax rate for portable, electronically-aerated bait containers.

1.

Short title

This Act may be cited as the Fishing Equipment Tax Relief Act of 2019.

2.

Three percent rate for portable, electronically-aerated bait containers

(a)

In general

Section 4161(a) of the Internal Revenue Code of 1986 is amended by redesignating paragraph (4) as paragraph (5) and by inserting after paragraph (3) the following new paragraph:

(4)

3 percent rate for portable, electronically-aerated bait containers

In the case of portable, electronically-aerated bait containers, paragraph (1) shall be applied by substituting 3 percent for 10 percent.

.

(b)

Effective date

The amendments made by this section shall apply to articles sold by the manufacturer, producer, or importer after December 31, 2019.