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To amend the Internal Revenue Code of 1986 to modify the taxation of arrow components

Act Details

To amend the Internal Revenue Code of 1986 to modify the taxation of arrow components was a proposal (now, a piece of legislation) introduced on 2004-11-19 in the House of Commons and Senate respectively of the 108 United States Congress by Paul Ryan in relation with: Commerce, Cost of living adjustments, Economics and public finance, Equipment and supplies, Excise tax, Foreign trade and international finance, Hunting, Imports, Indexing (Economic policy), Manufacturing industries, Sports and recreation, Taxation.

To amend the Internal Revenue Code of 1986 to modify the taxation of arrow components became law (1) in the United States on 2004-12-23. It was referred to the following Committee(s): (2)

House Ways and Means (HSWM)

Sponsor

Paul Ryan, member of the US congress
Paul Ryan, Republican, Representative from Wisconsin, district 1

The proposal had the following cosponsors:

James David (jim) Matheson, Democrat, Representative, from Utah, district 2

Act Overview

Number: 5394 (3)
Official Title as Introduced: To amend the Internal Revenue Code of 1986 to modify the taxation of arrow components (4)
Date First Introduced: 2004-11-19
Sponsor Name: James David (jim) Matheson
Assignment Process: See Committe Assignments (5)
Latest Major Activity/Action: Enacted
Date Enacted (signed, in general (6), by President): 2004-12-23
Type: hr (7)
Main Topic: Taxation
Related Bills: (8)
Summary of To amend the Internal Revenue Code of 1986 to modify the taxation of arrow components: Govtrack. Authored by the Congressional Research Service (CRS) of the Library of Congress.
Primary Source: Congress Website

Text of the To amend the Internal Revenue Code of 1986 to modify the taxation of arrow components

Repeals provisions enacted by the American Jobs Creation Act of 2004 relating to the excise tax on arrows.

Amends the Internal Revenue Code to revise the excise tax on arrows effective after March 31 2005 to: (1) impose a tax equal to 39 cents per arrow shaft on the first sale of such shaft (instead of a 12.4 percent tax on the sales price) with inflation adjustments on such 39-cent amount after 2005; and (2) include points suitable for use with arrows in the 11 percent excise tax on arrow parts and accessories.

Bill Notes

[Note 1] An Act (like To amend the Internal Revenue Code of 1986 to modify the taxation of arrow components) or a resolution cannot become a law in the United States until it has been approved (passed) in identical form by both the House of Representatives and the Senate, as well as signed by the President (but see (5)). If the two bodys of the Congress versions of a bill are not identical, one of the bodies might decide to take a further vote to adopt the bill (see more about the Congress process here). An Act may be pass in identical form with or without amendments and with or without conference. (see more about Enrollment).
[Note 2] Proposals are referred to committees for preliminary consideration, then debated, amended, and passed (or rejected) by the full House or Senate. To prevent endless shuttling of bills between the House and Senate, bills like To amend the Internal Revenue Code of 1986 to modify the taxation of arrow components are referred to joint committees made up of members of both houses.
[Note 3] For more information regarding this legislative proposal, go to THOMAS, select “Bill Number,” search on (To amend the Internal Revenue Code of 1986 to modify the taxation of arrow components)
[Note 4] To amend the Internal Revenue Code of 1986 to modify the taxation of arrow components. The current official title of a bill is always present, assigned at introduction (for example, in this case, on 2004-11-19) and can be revised any time. This type of titles are sentences.
[Note 5] The Act is referred to the appropriate committee by the Speaker of any of the two Houses. Bills are placed on the calendar of the committee to which they have been assigned. See Assignment Process.
[Note 6] Regarding exceptions to President´s approval, a bill that is not signed (returned unsigned) by the President can still become law if at lest two thirds of each of the two bodys of the Congress votes to pass it, which is an infrequent case. See also Presidential Veto.
[Note 7] Legislative Proposal types can be: hr, hres, hjres, hconres, s, sres, sjres, sconres. An Act originating in the Senate is designated by the letter “S”, and a bill originating from the House of Representatives begins with “H.R.”, followed, in both cases, by its individual number which it retains throughout all its parliamentary process.
[Note 8] For information regarding related bill/s to To amend the Internal Revenue Code of 1986 to modify the taxation of arrow components, go to THOMAS.

Analysis

No analysis (criticism, advocacy, etc.) about To amend the Internal Revenue Code of 1986 to modify the taxation of arrow components submitted yet.

Commerce
Cost of living adjustments
Economics and public finance
Equipment and supplies
Excise tax
Foreign trade and international finance
Hunting
Imports
Indexing (Economic policy)
Manufacturing industries
Sports and recreation
Taxation

To amend the Internal Revenue Code of 1986 to modify the taxation of arrow components

To amend the Internal Revenue Code of 1986 to modify the taxation of arrow components