A bill to amend the Internal Revenue Code of 1954 to provide for excise tax refunds in the case of certain uses of tread rubber, and for other purposes.

Amends the Internal Revenue Code to provide to tire manufacturers excise tax credits or refunds for tread rubber where tax-paid tread rubber is: (1) destroyed or wasted in the recapping or retreading process; (2) used in the recapping or retreading of tires the sales of which are later adjusted under a warranty or guarantee; or (3) used in the recapping or retreading of tires which are exported, used, or sold as supplies for vessels or aircraft, sold to State or local governments, or sold to nonprofit educational institutions.

Provides for excise tax credits or refunds on retreaded tires which have been sold by a subsequent manufacturer on or in connection with another article manufactured by him, and exported or sold for specified purposes.

Provides that the period for allowing a credit or making a refund for tire tax or tread rubber tax filed as a result of a warranty or guarantee adjustment shall be one year from the date on which the adjustment is made.

Provides that tires which are exported from the United States, recapped, or retreaded outside the United States and imported into the United States shall be taxed as imported tread rubber to the extent that such rubber is used in the recapping or retreading.