A bill to amend subchapter E of chapter 36 of the Internal Revenue Code of 1954 to permit aircraft owners to choose, under certain conditions, the yearly period for application of the tax on use of civil aircraft.

Permits, under the Internal Revenue Code, aircraft owners to choose, under specified conditions, the yearly period for application of the tax on use of civil aircraft. Provides for election to use a year other than the period beginning July 1 only if the person required to pay the tax on the use of the aircraft establishes that climatic conditions beyond his control will prevent him from using such aircraft for a continuous period of 90 days or more during the one year. (Amends 26 U.S.C. 4492 (c)(1)).