EFFECTIVE DATES.

SEC. 505. EFFECTIVE DATES. (a) The amendments made by title I, title III, and section 502, and the amendment made by section 504 (a) insofar as it affects the rates of the retailers’ excise taxes imposed by sections 2400, 2401, and 2402 of the Internal Revenue Code and the rate of the manufacturers’ excise tax imposed by section 3406 (a) (10) of such Code, shall apply only with respect to articles sold on or after April 1, 1954. For the purposes 68 Stat. 43 of the preceding sentence, an article shall not be considered sold before April 1, 1954, unless possession or right to possession passes to the purchaser before such date. In the case of— (1) a lease, (2) a contract for the sale of an article wherein it is provided that the price shall be paid by installments and title to the article sold does not pass until a future date notwithstanding partial payment by installments, (3) a conditional sale, or (4) a chattel mortgage arrangement wherein it is provided that the sales price shall be paid in installments, entered into before April 1, 1954, payments made on or after April 1, 1954, shall, for purposes of this subsection, be considered as payments made with respect to articles sold on or after April 1, 1954. (b) The amendment made by section 501 shall apply only with respect to amounts paid on or after April 1, 1954. (c) The amendment made by section 504 (a) shall apply— (1) insofar as it affects the rate of the tax imposed by section 1700 (a) (1) of the Internal Revenue Code, with respect to amounts paid for admissions on or after April 1, 1954, out. in the case of any season ticket or subscription, only if all the admissions under such ticket or subscription can occur only on or after April 1, 1954; (2) insofar as it affects the rates of the taxes imposed by subsections (b), (c), and (e) of section 1700 of the Internal Revenue Code, as though the rates listed under the heading “Old Rate” in the table in section 1650 of such Code were the rates established by the amendments made by title II of this Act; (3) insofar as it affects the rates of the taxes imposed by subsections (a) (1) (A), (a) (2) (A), and (a) (2) (B) of section 3465 of the Internal Revenue Code, as though the rates listed under the heading “Old Rate” in the table in section 1650 of such Code were the rates established by the amendments made by section 401 of this Act; (4) insofar as it affects the rate of the tax imposed by section 3465 (a) (3) of the Internal Revenue Code, as though such amendment were an amendment made by section 401 of this Act; and (5) insofar as it affects the rates of the taxes imposed by section 3469 of the Internal Revenue Code, with respect to amounts paid for or in connection with transportation which begins on or after April 1, 1954.