EXTENSION OF TELEPHONE EXCISE TAX.

SEC. 10501. EXTENSION OF TELEPHONE EXCISE TAX. Paragraph (2) of section 4251(b) (relating to applicable percentage) is amendea to read as follows: “(2) Applicable percentage.— The term ‘applicable percentage’ means 3 percent; except that, with respect to amounts paid pursuant to bills first rendered after 1990, the applicable percentage shall be zero.”