To amend the Internal Revenue Code of 1986 to provide for proration of the heavy vehicle use tax between purchasers of the same vehicle.

Amends Internal Revenue Code provisions concerning the excise tax on heavy highway vehicles (over 55,000 pounds) to provide that if in any taxable period a highway motor vehicle is sold before the last day in such period by the person who paid the excise tax for any portion of such period ending with such last day, the portion of the tax for the period from the date of the sale to such last day shall be refunded (without interest). Specifies that the refund shall be made not later than 45 days after such last day.

[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4828 Introduced in House (IH)]







107th CONGRESS
  2d Session
                                H. R. 4828

To amend the Internal Revenue Code of 1986 to provide for proration of 
   the heavy vehicle use tax between purchasers of the same vehicle.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 22, 2002

   Mr. Watkins of Oklahoma introduced the following bill; which was 
              referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to provide for proration of 
   the heavy vehicle use tax between purchasers of the same vehicle.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. PRORATION OF HEAVY VEHICLE USE TAX BETWEEN PURCHASERS OF 
              SAME VEHICLE.

    (a) In General.--Section 4481(c) of the Internal Revenue Code of 
1986 (relating to proration of tax) is amended by adding at the end the 
following new paragraph:
            ``(3) Where vehicle sold.--If in any taxable period a 
        highway motor vehicle is sold before the last day in such 
        period by the person who paid the tax imposed by this section 
        for any portion of such period ending with such last day, the 
        portion of the tax imposed by this section for the period from 
        the date of the sale to such last day shall be refunded 
        (without interest) to such person. In the case of a refund, 
        such refund shall be made not later than 45 days after such 
        last day.''.
    (b) Conforming Amendments.--
            (1) Section 4481(c)(1) of the Internal Revenue Code of 1986 
        is amended by inserting ``by the person described in subsection 
        (b)'' after ``vehicle''.
            (2) Section 4481(d) of such Code is amended to read as 
        follows:
    ``(d) Cross Reference.--

                                ``For privilege of paying tax imposed 
by this section in installments, see section 6156.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to sales occurring after the date of the enactment of this Act.
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