Fishing Equipment Tax Relief Act of 2016

Fishing Equipment Tax Relief Act of 2016

This bill amends the Internal Revenue Code to reduce from 10% to 3% the excise tax rate that applies to the sale of portable, electronically-aerated bait containers by the manufacturer, producer, or importer.

[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5840 Introduced in House (IH)]

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114th CONGRESS
  2d Session
                                H. R. 5840

To amend the Internal Revenue Code of 1986 to provide a reduced excise 
     tax rate for portable, electronically-aerated bait containers.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 14, 2016

Mr. Jolly (for himself, Mr. Bilirakis, Mr. Austin Scott of Georgia, Mr. 
   Kind, and Mr. Hultgren) 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 a reduced excise 
     tax rate for portable, electronically-aerated bait containers.

    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 ``Fishing Equipment Tax Relief Act of 
2016''.

SEC. 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, 2016.
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