An Act to provide that amounts which do not exceed 60 cents shall be exempt from the tax imposed upon amounts paid for the transportation of persons
PL 84-1015 (H.R.7634), enacted 08/07/1956

70 S T A T . ] 
PUBLIC LAW 1015-AUG. 7, 1956 
1077 
(b) of section 2 shall b2 effective only with respect to annuities accru-
ing for months after June 1956 and lump-sum payments (under sec-
tion 5 (f) (1) of the Railroad Retirement Act of 1937) in the case 
of deaths occurring after June 1956, 
Section 3 shall be effective only 
with respect to pensions due in calendar months after July 1956 and 
annuities accruing for months after June 1956. 
Approved August 7, 1956. 
Public Law 1014 
CHAPTER 1023 
^ 
^^"^ 
August 7, 1956 
To amend section 650 of title 14, United States Code, entitled "Coast Guard", 
l^s. 40ii] 
relating to the Coast Guard Supply Fund. 
Be it enacted hy the Senate and House of Representatwes 
of the 
United States of America in Congress assembled^ That (a) section supply Vund."*"* 
650 of title 14, United States Code, is amended to read as follows: 
63 stat. sso. 
"§ 650. Coast Guard Supply Fund 
"A Coast Guard Supply Fund is authorized. 
The Secretary may 
prescribe regulations for designating the classification of materials 
to be stocked. 
In such regulations, whenever the fund is extended 
to include items not previously stocked, the Secretary may authorize 
an increase in the existing capital of the fund by the value of such 
usable materials transferred thereto from Coast Guard inventories 
carried in other accounts. Except for the materials so transferred, 
the fund shall be charged with the cost of materials purchased or 
otherwise acquired. 
The fund shall be credited with the value of 
materials consumed, issued for use, sold, or otherwise disposed of, such 
values to be determined on a basis that will approximately cover the 
cost thereof." 
(b) The analysis of chapter 17, title 14, United States Code, is 
es stat. 544. 
amended by striking out 
"650. Coast Guard supply fund and supply account." 
and inserting in place thereof the following item: 
"650. Coast Guard Supply Fund." 
Approved August 7, 1956. 
Public Law 1015 
CHAPTER 1024 
AN ACT 
August 7, 1956 
To provide that amounts which do not exceed 60 cents shall be exempt from the 
— '. U 
tax imposed upon amounts paid for the transportation of persons. 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of Amenca in Congress assembled^ That part I of sub- tauon."" ^'^^P'"'-
chapter C of chapter 33 of the Internal Revenue Code of 1954 (relating 
f e^us^c \^261 
to tax on transportation of persons) is hereby amended by striking 4262. 
out "The tax imposed by section 4261 shall not apply to amounts paid 
for transportation which do not exceed 35 cents," and inserting in lieu 
thereof "The tax imposed by section 4261 shall not apply to amounts 
paid for transiwrtation which do not exceed 60 cents,". 
SEC. 2. The amendment made by the first section of this Act shall 
apply to amounts paid on or after the first day of the first month which 
begins more than ten days after the date of the enactment of this Act 
for transportation on or after such first day. 
Approved August 7, 1956. 1