Volume 67
Public Law 83–283
To amend section 3250 (1) (5) of the Internal Revenue Code tn provide that a person entitled to drawback with respect, to certain nonbeverage products may elect to receive such drawback on a monthly instead of a quarterly basis.
Approved August 15, 1953
Statutory text
AN ACT
To amend section 3250 (1) (5) of the Internal Revenue Code tn provide that a person entitled to drawback with respect, to certain nonbeverage products may elect to receive such drawback on a monthly instead of a quarterly basis.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That the last two sentences of section 3250 (1) (5) of the Internal Revenue Code are hereby amended to read as follows: “Such drawback shall be due and payable quarterly upon filing of a proper claim with the Secretary; except that, where any person entitled to such drawback shall elect in writing to file monthly claims therefor, such drawback shall be due and pavable monthly upon filing of a proper claim with the Secretary: Provided, however, That the Secretary may require persons electing to file monthly drawback claims to file with him a bond or other security in such amount mid with such conditions as he shall by regulations prescribe. Any such election may be revoked upon filing of notice thereof with the Secretary. No claim under this subsection shall be allowed unless filed with the, Secretary within the three months next succeeding the quarter in which the distilled spirits covered by the claim were used as provided in this subsection.”
Sec. 2.
The amendment made by the first section of this Act shall apply only with respect to claims for drawback with respect to distilled spirits which, on or after the first day of the first quarter after the quarter in which this Act is enacted, are used in the manufacture or production of nonbeverage products.
Approved August 15, 1953.