Small Aircraft Tax Modification Act of 2016

Bill: 114-s-2530
Sponsor: full_name: Sen. Murkowski, Lisa [R-AK]
Introduced: 2016-02-10
Policy area: Taxation
Subjects: Aviation and airports

Sales and excise taxes
Latest action: action_date: 2016-02-10
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2016-02-10
action_desc: Introduced in Senate
text: <p><strong>Small Aircraft Tax Modification Act of 2016</strong></p> <p>This bill amends the Internal Revenue Code to expand eligibility for the exemption from the excise tax on the transportation of persons and property by air by: (1)&nbsp;increasing the limit on the maximum certified takeoff weight of eligible aircraft not operated on an established line&nbsp;from 6,000 pounds or less to 12,500 pounds or less; and (2) providing that an aircraft shall not be considered as operated on an established line if it is performing an on-demand operation, as defined by regulation. </p>

tv_txt: II 114th CONGRESS 2d Session S. 2530 IN THE SENATE OF THE UNITED STATES February 10, 2016 Ms. Murkowski 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 exemption for certain aircraft from the excise taxes on transportation by air.

1. Short title This Act may be cited as the Small Aircraft Tax Modification Act of 2016 . 2. Modification of excise tax exemption for small aircraft on established lines (a) In general Section 4281 of the Internal Revenue Code of 1986 is amended— (1) in subsection (a), by striking 6,000 pounds or less and inserting 12,500 pounds or less , and (2) by striking subsection (c) and inserting the following: (c) Established line For purposes of this section, an aircraft shall not be considered as operated on an established line if such aircraft is performing an on-demand operation (as defined in section 110.2 of title 14, Code of Federal Regulations, as in effect on the date of the enactment of the Small Aircraft Tax Modification Act of 2016 ). . (b) Effective date The amendments made by this section shall apply to taxable transportation provided after the date of the enactment of this Act.