INTRODUCTION

I. SUMMARY

II. DESCRIPTION OF H.R. 2163 (AS PASSED BY THE HOUSE OF

REPRESENTATIVES): EXPANSION OF EXCISE TAX ON

SPORT FISHING EQUIPMENT; MODIFICATION OF SPORT

FISH RESTORATION AND FEDERAL BOATING SAFETY PRO-

GRAMS; AND OTHER MATTERS...........

A. Expansion of Excise Tax on Fishing Equipment

and Modification of Sport Fish Restoration and

Federal Boating Safety Programs

1. Revenue provisions

2. Fund expenditure provisions .......

B. Tax Treatment of Proposed National Fish and

Wildlife Foundation.

1. Establishment of the Foundation..

2. Tax treatment of the Foundation

C. Expansion of Excise Tax on Certain Arrows....

III. DESCRIPTION OF S. 927 (SENATORS DURENBERGER, BOREN,

AND PERCY): EXTENSION OF TIME FOR PAYMENT OF

EXCISE TAX ON FISHING EQUIPMENT.

IV. DESCRIPTION OF S. 1183 (SENATORS MATSUNAGA, LONG,

BENTSEN, DURENBERGER, GRASSLEY, AND MOYNIHAN):

EXCEPTION FOR EDUCATIONAL ORGANIZATIONS FROM

CERTAIN UNRELATED BUSINESS INCOME PROVISIONS

(III)