Fishing Equipment Tax Relief Act of 2021

II 117TH CONGRESS 1ST SESSION S. 1154 To amend the Internal Revenue Code of 1986 to provide a reduced excise tax rate for portable, electronically-aerated bait containers. IN THE SENATE OF THE UNITED STATES APRIL 15, 2021 Mr. RUBIO (for himself and Mr. SCOTT of Florida) 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 provide a reduced excise tax rate for portable, electronically- aerated bait containers. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Fishing Equipment 4 Tax Relief Act of 2021’’. 5 SEC. 2. THREE PERCENT RATE FOR PORTABLE, ELEC- 6 TRONICALLY-AERATED BAIT CONTAINERS. 7 (a) IN GENERAL.—Section 4161(a) of the Internal 8 Revenue Code of 1986 is amended by redesignating para- 9 VerDate Sep 11 2014 02:03 Apr 27, 2021 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S1154.IS S1154 kjohnson on DSK79L0C42PROD with BILLS 2 •S 1154 IS graph (4) as paragraph (5) and by inserting after para- 1 graph (3) the following new paragraph: 2 ‘‘(4) 3 PERCENT RATE FOR PORTABLE, ELEC- 3 TRONICALLY-AERATED BAIT CONTAINERS.—In the 4 case of portable, electronically-aerated bait con- 5 tainers, paragraph (1) shall be applied by sub- 6 stituting ‘3 percent’ for ‘10 percent’.’’. 7 (b) EFFECTIVE DATE.—The amendments made by 8 this section shall apply to articles sold by the manufac- 9 turer, producer, or importer after December 31, 2021. 10 Æ VerDate Sep 11 2014 02:03 Apr 27, 2021 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\S1154.IS S1154 kjohnson on DSK79L0C42PROD with BILLS