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[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 4085 Introduced in Senate (IS)]

109th CONGRESS
  2d Session
                                S. 4085

 To amend the Internal Revenue Code of 1986 to modify the rate of the 
                  excise tax on certain wooden arrows.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                            December 6, 2006

 Mr. Smith (for himself and Mr. Wyden) 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.

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

SECTION 1. MODIFICATION OF RATE OF EXCISE TAX FOR CERTAIN WOODEN 
              ARROWS.

    (a) In General.--
            (1) Modification of rate.--Paragraph (2) of section 4061(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) Certain wooden arrows.--There is hereby 
                imposed on the first sale by the manufacturer, 
                producer, or importer of any wooden 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,
                            ``(ii) measures 18 inches or more overall 
                        but less than 28\1/2\ inches overall in length, 
                        and
                            ``(iii) is not suitable for use with a bow 
                        described in paragraph (1)(A),
                a tax equal to 5 cents per shaft.''.
            (2) Technical amendment.--Subparagraph (A) of section 
        4161(b)(2) of such Code is amended by inserting ``(other than 
        an arrow described in subparagraph (B))'' after ``the 
        manufacture of any arrow''.
    (b) Inflation Adjustment.--
            (1) In general.--Subparagraph (C) of section 4161(b)(2) of 
        the Internal Revenue Code of 1986, as redesignated by 
        subsection (a)(1), is amended by redesignating clause (ii) as 
        clause (iii) and by inserting after clause (i) the following 
        new clause:
                            ``(ii) Certain wooden arrows.--In the case 
                        of any calendar year beginning after 2007, the 
                        5-cent amount specified in subparagraph (B) 
                        shall be increased by an amount equal to the 
                        product of--
                                    ``(I) such amount, multiplied by
                                    ``(II) the cost-of-living 
                                adjustment determined under section 
                                1(f)(3) for such calendar year, 
                                determined by substituting `2006' for 
                                `1992' in subparagraph (B) thereof.''.
            (2) Conforming amendment.--Clause (iii) of section 
        4161(b)(2)(C) of such Code, as redesignated by paragraph (1), 
        is amended by striking ``clause (i)'' and inserting ``clause 
        (i) or (ii)''.
    (c) Effective Date.--The amendments made by this section shall 
apply to shafts first sold after the date of enactment of this Act.
                                 <all>
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