Amends the Internal Revenue Code to impose a $300 excise tax on the sale by the manufacturer of each 1984 or later model passenger automobile in which an automatic safety air bag has not been installed.
Allows a manufacturer a refundable $300 tax credit for each 1984 or later model passenger automobile in which such an air bag has been installed.
Introduced in Senate
Read second time and referred to Senate Committee on Finance.
Committee on Finance requested executive comment from OMB; Treasury Department.
Subcommittee on Taxation and Debt Management. Hearings held.
Subcommittee on Taxation and Debt Management. Hearings held.
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