Definition: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Input: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Airport and Airway Trust Fund Taxes
Short Term Reinstatement Act''.

SEC. 2. TEMPORARY REINSTATEMENT OF AIRPORT AND AIRWAY TRUST FUND TAXES.

(a) Fuel Tax.--
(1) Subparagraph (A) of section 4091(b)(3) of the Internal
Revenue Code of 1986 is amended to read as follows:
''(A) The rate of tax specified in paragraph (1)
shall be 4.3 cents per gallon--
''(i) after December 31, 1996, and before
the date which is 7 calendar days after the
date of the enactment of the Airport and Airway
Trust Fund Taxes Short Term Reinstatement Act;
and
''(ii) after September 29, 1997.''
(2) Paragraph (2) of section 4081(d) of such Code is
amended to read as follows:
''(2) Aviation gasoline.--The rate of tax specified in
clause (i) of subsection (a)(2)(A) shall be 4.3 cents per
gallon--
''(A) after December 31, 1996, and before the date
which is 7 calendar days after the date of the
enactment of the Airport and Airway Trust Fund Taxes
Short Term Reinstatement Act; and
''(B) after September 29, 1997.''.
(3) The second paragraph (3) of section 4081(d) of such
Code is repealed.
(4) Section 4041(c)(5) of such Code is amended to read as
follows:
''(5) Termination.--The taxes imposed by paragraphs (1) and
(2) shall apply during the following periods:
''(A) The period beginning on August 27, 1996, and
ending on December 31, 1996.
''(B) The period beginning on the date which is 7
calendar days after the date of the enactment of the
Airport and Airway Trust Fund Taxes Short Term
Reinstatement Act and ending on September 29, 1997.''.
(b) Ticket Taxes.--Sections 4261(g) and 4271(d) are each amended by
striking ''1997.'' and inserting ''1997, and to transportation
beginning on or after the date which is 7 days after the date of
enactment of the Airport and Airway Trust Fund Taxes Short Term
Reinstatement Act, and before September 30, 1997.'';
(c) Transfer to Airport and Airway Trust Fund.--
(1) Subsection (b) of section 9502 is amended by striking
''January 1, 1997,'' each place it appears and inserting
''September 30, 1997,''.
(2) Paragraph (3) of section 9502(f) is amended to read as
follows:
''(3) Termination.--Notwithstanding the preceding
provisions of this subsection, the Airport and Airway Trust
Fund financing rate shall be zero with respect to--
''(A) taxes imposed after December 31, 1996, and
before the date which is 7 calendar days after the date
of the enactment of the Airport and Airway Trust Fund
Taxes Short Term Reinstatement Act; and
''(B) taxes imposed after September 29, 1997.''
(d) Floor Stocks Taxes on Aviation Fuel.--
(1) Imposition of tax.--In the case of aviation fuel on
which tax was imposed under section 4091 of the Internal
Revenue Code of 1986 before the tax-increase date described in
paragraph (3)(A)(i) and which is held on that date by any
person, there is hereby imposed a floor stocks tax of 17.5
cents per gallon.
(2) Liability for tax and method of payment.--
(A) Liability for tax.--A person holding aviation
fuel on a tax-increase date to which the tax imposed by
paragraph (1) applies shall be liable for that tax.
(B) Method of payment.--The tax imposed by
paragraph (1) shall be paid in the manner the Secretary
prescribes.
(C) Time for payment.--The tax imposed by paragraph
(1) with respect to any tax-increase date shall be paid
on or before the first day of the 7th month beginning
after that tax-increase date.
(3) Definitions.--For purposes of this subsection--
(A) The Code.--The term ''the Code'' means the
Internal Revenue Code of 1986.
(B) Tax increase date.--The term ''tax-increase
date'' means the date which is 7 calendar days after
the date of enactment of this Act.
(C) Aviation fuel.--The term ''aviation fuel'' has
the meaning given that term by section 4093 of the
Code.
(D) Held by a person.--Aviation fuel shall be
considered as ''held by a person'' if title thereto has
passed to that person (whether or not delivery to the
person has been made).
(E) Secretary.--The term ''Secretary'' means the
Secretary of the Treasury or his delegate.
(4) Exception for certain uses.--The tax imposed by
paragraph (1) shall not apply to aviation fuel held by any
person on the tax-increase date exclusively for any use for
which a credit or refund of the entire tax imposed by section
4091 of the Code is allowable for aviation fuel purchased on or
after the tax-increase date for that use.
(5) Exception for certain amounts of fuel.--
(A) In general.--No tax shall be imposed by
paragraph (1) on aviation fuel held on the tax-increase
date by any person if the aggregate amount of aviation
fuel held by that person on that date does not exceed
2,000 gallons. The preceding sentence shall apply only
if that person submits to the Secretary (at the time
and in the manner required by the Secretary) such
information as the Secretary shall require for purposes
of this paragraph.
(B) Exempt fuel.--For purposes of subparagraph (A),
there shall not be taken into account fuel held by any
person which is exempt from the tax imposed by
paragraph (1) by reason of paragraph (4).
(C) Controlled groups.--For purposes of this
paragraph--
(i) Corporations.--
(I) In general.--All persons
treated as a controlled group shall be
treated as 1 group.
(II) Controlled group.--The term
''controlled group'' has the meaning
given to that term by subsection (a) of
section 1563 of the Code; except that
for these purposes the phrase ''more
than 50 percent'' shall be substituted
for the phrase ''at least 80 percent''
each place it appears in that
subsection.
(ii) Nonincorporated persons under common
control.--Under regulations prescribed by the
Secretary, principles similar to the principles
of clause (i) shall apply to a group of persons
under common control where 1 or more of those
persons is not a corporation.
(6) Other law applicable.--All provisions of law, including
penalties, applicable with respect to the taxes imposed by
section 4091 of the Code shall, insofar as applicable and not
inconsistent with the provisions of this subsection, apply with
respect to the floor stock taxes imposed by paragraph (1) to
the same extent as if those taxes were imposed by section 4091
of the Code.
(d) Effective Date.--
(1) In general.--The amendments made by this section take
effect 7 days after the date of enactment of this Act.
(2) Transportation using tickets purchased during lapse
period.--The taxes imposed by sections 4261 and 4271 of the
Internal Revenue Code of 1986 do not apply to amounts paid for
taxable transportation (as defined in section 4262 and 4272 of
the Code, respectively) after December 31, 1996, and before the
effective date of the amendments made by this section.

SEC. 3. TAXES COLLECTED DURING TAXABLE PERIOD TO BE TRANSFERRED
REGARDLESS OF WHEN PAID.

(a) In General.--Section 9502(b) of the Code is amended by adding
at the end thereof the following:
''Any amount received in the Treasury after the later of the 2 dates
set forth in paragraphs (1), (2), and (4), and on or after the date set
forth in paragraph (3), shall be treated as received on the day before
such date (regardless of when received) if the amount relates to a tax
that described in this subsection that was in effect on the day before
such date.''.
(b) Effective Date.--The amendment made by subsection (a) applies
with respect to amounts received after December 31, 1995.
Output:
Airport and Airway Trust Fund Taxes Short Term Reinstatement Act - Amends the Internal Revenue Code to restore the Airport and Airway Trust Fund excise taxes.