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 9 0 STAT. 1812

PUBLIC LAW 94-455—OCT. 4, 1976 170(b)(1)(A) (ii) which is exempt from income tax under section 501(a). The term also includes a school operated as an activity of a n organization described i n section 5 0 1 (c)(3) which is exempt from income tax under section 5 0 1 (a), if such school normally maintains a regular faculty and curriculum and normally has a regularly enrolled body of pupils or students in attendance a t the place where its educational activities are regularly carried on." (7) AMENDMENTS OF SECTION 4261.—

26 USC 4261.

26 USC 4271.

26 USC 4292. 26 USC 4294.

26 USC 4295. ,

(A) Subsections (a) and (b) of section 4261 (relating to tax on transportation of persons by air) are each amended by striking out "which begins after June 30, 1970,". (B) Section 4261(c) is amended by striking out " and begins after June 30, 1970". (8) AMENDMENT o r SECTION 4 2 71.—Section 4271(a) ( r e l a t i n g to

tax on transportation of property by a i r) is amended by striking out "which begins after June 30, 1970,". (9) REPEAL OF SECTION 4292.—Section 4292 (relating to State and local governmental exemption from the tax on communications services) is repealed. (10)

R E P E A L OF SECTION

4294.—Section 4294

(relating

to

exemption of nonprofit educational organizations from the tax on communications services) is repealed. (H) REPEAL o r SECTION 4295.—Section 4295 ( a cross reference) is repealed. (12) AMENDMENT OF CHAPTER 34.—Chapter 34 ( r e l a t i n g to doc-

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_ •,; V

umentary stamp taxes) is amended to read as follows:

"CHAPTER 34—POLICIES ISSUED BY FOREIGN INSURERS .,,^5^-i-.i,K» '; - ' * " '

26 USC 4371. ^,

"Sec. "Sec. "Sec. "Sec.

'

'

"SEC. 4371. IMPOSITION OF TAX. "There is hereby imposed, on each policy of insurance, indemnity bond, annuity contract, or policy of reinsurance issued by any foreign insurer or reinsurer, a tax a t the following r a t e s: "(1)

•-,.-";

4371. Imposition of tax. 4372. Definitions. 4373. Exemptions. 4374. Liability for tax.

CASUALTY INSURANCE AND INDEMNITY BONDS.—4 cents on

each dollar, or fractional part thereof, of the premium paid on the policy of casualty insurance or the indemnity bond, if issued to or for, or in the name of, a n insured as defined i n section 4372(d); " (2) L I F E INSURANCE, SICKNESS AND ACCIDENT POLICIES, AND

26 USC 4372.

ANNUITY CONTRACTS.—1 cent on each dollar, or fractional part thereof, of the premium paid on the policy of life, sickness, o r accident insurance, or annuity contract, unless the insurer is subject to tax under section 819; and " (3) REINSURANCE.—1 cent on each dollar, or fractional part thereof, of the premium paid on the policy of reinsurance covering any of the contracts taxable under paragraph (1) or (2). "SEC. 4372. DEFINITIONS. " (a) FOREIGN INSURER OR REINSURER. — For purposes of section 4371,

the term 'foreign insurer or reinsurer' means an insurer or reinsurer \»- *,'...,.: who is a nonresident alien individual, or a foreign partnership, o r a >

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 PUBLIC LAW 94-455—OCT. 4, 1976

9 0 STAT. 1813

foreign corporation. The term includes a nonresident alien individual, foreign partnership, or foreign corporation which shall become bound by a n obligation of the nature of an indemnity bond. The term does not include a foreign government, or municipal or other corporation exercising the taxing power. "(b)

P O L I C Y OF CASUALTY INSURANCE. — For purposes of

section

4371(1), the term 'policy of casualty insurance' means any policy Ante, p. 1S12. (other than life) or other instrument by whatever name called whereby a contract of insurance is made, continued, or renewed. " (c) INDEMNITY B O N D. — For purposes of this chapter, the term 'indemnity bond' means any instrument by whatever name called whereby an obligation of the nature of an indemnity, fidelity, or surety bond is made, continued, or renewed. The term includes any bond for indemnifying any person who shall have become bound or engaged as surety, and any bond for the due execution or performance of any contract, obligation, o r requirement, o r the duties of any office or position, and to account for money received by virtue thereof, where a premium is charged for the execution of such bond. " (d) INSURED.—For purposes of section 4371(1), the term 'insured' means— " (1) a domestic corporation or partnership, or a n individual resident of the United States, against, or with respect to, hazards, risks, losses, or liabilities wholly or part l y within the United States, or " (2) a foreign corporation, foreign partnership, or nonresident individual, engaged in a trade or business within the United States, against, or with respect to, hazards, risks, losses, or liabilities within the United States. •', "(e)

POLICY o r L I F E, SICKNESS, OR ACCIDENT INSURANCE, OR A N N U -

ITY CONTRACT.—For purposes of section 4371(2), the term 'policy of life, sickness, or accident insurance, or annuity contract' means any policy or other instrument by whatever name called whereby a contract of insurance or a n annuity contract is made, continued, or renewed with respect to the life or hazards to the person of a citizen or resident of the United States. "(f)

POLICY OF R E INSURANCE. — For purposes of section 4 3 7 1 (3),

the term 'policy of reinsurance' means any policy or other instrument by whatever name called whereby a contract of reinsurance is made, ' continued, or renewed against, or with respect to, any of the hazards, risks, losses, or liabilities covered by contracts taxable under paragraph (1) or (2) of section 4371. "SEC. 4373. EXEMPTIONS. 26 USC 4373. " The tax imposed by section 4371 shall not apply to— " (1) DOMESTIC AGENT.—Any policy, indemnity bond, or annuity contract signed or countersigned by an officer or agent of the insurer in a State, or in the District of Columbia, within which such insurer is authorized to do business; or "(2)

I N D E M N I T Y BOND.—Any i n d e m n i t y bond required to be

filed by any person to secure payment of any pension, allowance, allotment, relief, or insurance by the United States, or to secure a duplicate for, or the payment of, any bond, note, certificate of indebtedness, war-saving certificate, warrant, or check, issued by the United States. "SEC. 4374. LIABILITY FOR TAX. 26 USC 4374. " The tax imposed by this chapter shall be paid, on the basis of a return, by any person who makes, signs, issues, or sells any of the

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license: Creative Commons - Attribution Share-Alike - https://creativecommons.org/licenses/by-sa/4.0/


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 PUBLIC LAW 94-455—OCT. 4, 1976

90 STAT. 1814

documents and instruments subject to the tax, or for whose use o r benefit the same are made, signed, issued, o r sold. The United States or any agency or instrumentality thereof shall not be liable for the tax." (13) AMENDMENT OF SECTION 4493.—

26 USC 4493.

(A) Section 4 4 9 3 (b)(1) (relating to certain persons engaged in foreign a i r commerce) is amended by striking out "beginning on or after July 1, 1970". (B) Section 4 4 9 3 (b)(2) is amended by striking o u t the last sentence. (14) AMENDMENT OF CHAPTER 37.—So much of chapter 37 as precedes section 4501 (relating to tax on sugar) is amended to read as follows:

"CHAPTER 37—SUGAR "Sec. 4501. Imposition of tax. "Sec. 4502. Definitions. "Sec. 4503. Exemptions for sugar consumption."

26 USC

4811-4826.

26 USC 4881-4886. 26 USC 4901. 26 USC 4905.

home

(relating to import taxes on oleomargarine) is repealed.

26 USC 26 USC

for

(15) R E P E A L OF SECTIONS 4591 THROUGH 4597.—Chapter 38

4591-4597. 4801-4806.

manufactured

(16) R E P E A L o r SECTIONS 4 8 0 I THROUGH 4 8 0 6. — Subchapter B

of chapter 39 (relating to tax on white phosphorus matches) is repealed. (17) R E P E A L OF SECTIONS 4811 THROUGH 4826.—Subchapter C of

chapter 39 (relating to tax on unadulterated butter) is repealed. ^

(18) R E P E A L OF SECTIONS 4 8 81 THROUGH 488 e.—Subchapter E of

chapter 39 (relating to tax on circulation other than of national banks) is repealed, (19) AMENDMENT OF SECTION 4901.—Section 4901 ( r e l a t i n g to

payment of occupational taxes) is amended by striking out subsection (c). (20) AMENDMENT OF SECTION 4905.—Section 4905(a) (relating to liability for occupational taxes in case of death o r change 01 location) is amended by striking out "wife" and inserting i n lieu thereof "spouse". (21) R E P E A L OP SECTION 4911 THROUGH 4931.—

26 USC 4911-4931. 26 USC 4911 note.

(A) Chapter 41 (relating to interest equalization tax) is repealed. (B) The repeal made by subparagraph (A) shall a p p l y with respect to acquisitions of stock and debt obligations made after June 30, 1974. (22) AMENDMENTS OF SECTION 4973.—

26 USC 4973.

(A) So much of section 4973(a) (relating to tax on excess contributions) as follows "of any individual," in paragraph (3) thereof is amended to read as follows: "there is imposed for each taxable year a tax in a n amount equal to 6 percent of the amount of the excess contributions to such individual's accounts, annuities, o r bonds (determined as of the close of the taxable year). The amount of such tax for any taxable year shall not exceed 6 percent of the value of the account, annuity, o r bond (determined as of the close of the taxable year). I n the case of an endowment contract described in section 4 0 8 (b), the tax imposed by this section does not apply to any amount allocable to life, health, accident, o r other insurance under such contract. The tax imposed by this subsection shall be paid by such individual."

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 PUBLIC LAW 94-455—OCT. 4, 1976

90 STAT. 1815

(B) Section 4973(c) is amended by striking out "subsec- 26 USC 4973. tion (a)(3) " and inserting in lieu thereof "subsection (a) (2)". ... (b)

CONFORMING AND CLERICAL AMENDMENTS.— (1) AMENDMENTS CONFORMING TO AMENDMENT OF CHAPTER S I. —

(A) Section 6416(a)(1) is amended by striking out 26 USC 6416. "(retailers taxes)" and inserting in lieu thereof "(special fuels)". (B) Section 6416(e) is amended by striking out "subchapter E of". (2)

AMENDMENT

CONFORMING TO AMENDMENT

OF

SECTION

4216.—Section 6416(b)(1) is amended by striking out "section 4216(f)(2) and (3)" and inserting in lieu thereof "section 4216 (e)(2) and (3)'\ (3) AMENDMENT CONFORMING TO THE REPEAL OF SECTION 4226.—

The table of sections for subchapter G of chapter 32 is amended by striking out the item relating to section 4226. (4) AMENDMENT CONFORMING TO THE REPEAL OF SECTIONS 4292, 4294, AND 4295.—The table of sections for subchapter E of chapter 33 is amended by striking out the items relating to sections 4292, 4294, and 4295. (5) 34.—

AMENDMENTS CONFORMING TO THE AMENDMENT OF CHAPTER

(A) Section 7270 is amended by striking out "the affixing 26 USC 7270. of stamps on insurance policies, etc." and inserting in lieu thereof "liability for tax on policies issued by foreign insurers". (B) Section 6808 is amended by striking out paragraph 26 USC 6808. , (4)(6) AMENDMENTS CONFORMING TO THE AMENDMENT OF CHAPI'ER 37.—

(A^ Section 7240 is amended by striking out "subchapter 26 USC 7240. A of". (B) Section 7655(a) is amended— 26 USC 7655. (i) by striking out "Stibchapter A of chapter 37" in paragraph (5) and inserting in lieu thereof "Chapter 37", and I -; (ii) by redesignating paragraph (5) as paragraph (3)., ^>.: (7) AMENDMENTS CONFORMING TO REPEAL OF SECTIONS 4591 THROUGH 4597.—

(A) Section 6808 is amended by striking out paragraph 26 USC 6808. (B)(i) Section 7234 (relating to violations of laws con- 26 USC 7234. cerning oleomargarine or adulterated butter operations) is repealed. (ii) The table of sections for part II of subchapter A of chapter 75 is amended by striking out the item relating to section 7234. (C)(i) Section 7265 (relating to other offenses concerning 26 USC 7265. oleomargarine or adulterated butter operations) is repealed. (ii) The table of sections for subchapter B of chapter 75 is amended by striking out the item relating to section 7265. (D) Section 7611(a), as redesignated by this Act, is Ante, p. 1699. amended by striking out paragraph (1). (E) The table of chapters for subtitle D is amended by striking out the item relating to chapter 38.

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 90 STAT. 1816 !^>.

PUBLIC LAW 94-455—OCT. 4, 1976

=a

(8) AMENDMENTS CONFORMING TO REPEAL OP SECTIONS 4 8 0 I THROUGH 4 8 0 6.

26 USC 4905.

(A) Section 4905(b) is amended to read as follows: "(b)

REGISTRATION.—

"For registration in case of wagering, see section 4412."

26tfSC6808. 26 USC 7012. 26 USC 7239.

26 USC 7267, '7274.

,, ' '•

26 USC 7272. 26 USC 7303.

(G) Section 7303 is amended by striking out paragraph (6). (H)(i) Part II of subchapter C of chapter 75 (relating to provisions common to forfeitures) is amended by striking out section 7328 (relating to confiscation of white phosphorus matches), and by redesignating section 7329 (relating to cross references) as section 7328. (ii) The table of sections for part II of subchapter C of chapter 75 is amended by striking out the last two items and inserting in lieu thereof the following:

26 USC 7201. 26 USC 7328, 7329.

.

(B) Section 6808 is amended by striking out paragraph (12). (C) Section 7012 is amended by striking out subsection (e). (D)(i) Section 7239 (relating to violations of laws concerning white phosphorus matches) is repealed. (ii) The table of sections for part II of subchapter A of chapter 75 is amended by striking out the item relating to section 7239 (E)(i) Sections 7267 and 7274 (relating to offenses and penalties concerning white phosphorus matches) are each repealed. (ii) The table of sections for subchapter B of chapter 75 is amended by striking out the items relating to sections 7267 and 7274. (F) Section 7272(b) is amended by striking out "4804

-,

"Sec. 7328. Cross references." (9) AMENDMENTS CONFORMING TO REPEAL OP SECTIONS 4 8 1 1 THROUGH 4 8 2 6.

26 USC 6808.

(A) Section 6808 (relating to cross references) is amended by striking out paragraph (10). ' (B)(i) Section 7235 (relating to violations of laws concerning adulterated butter and process or renovated butter) is repealed. (ii) The table of sections for part II of subchapter A of chapter 75 is amended by striking out the item relating to section 7235. (C)(i) Section 7264 (relating to offenses concerning renovated or adulterated butter) is repealed. (ii) The table of sections for subchapter B of chapter 75 is amended by striking out the item relating to section 7264. (D) Section 7303 is amended by striking out paragraphs (3), (4), and (5), and by redesignating paragraphs (7) and (8) as paragraphs (2) and (3), respectively. (E) Section 7611(a), as redesignated by this Act, is amended by striking out paragraph (2), and by redesignating paragraphs (5) and (6) as paragraphs (1) and (2), respectively.

26 USC 7235. '•:'• - J; 26 USC 7264.

26 USC 7303. ,;,

^rete, p. 1699. ..,;;..... '

(10) AMENDMENTS CONFORMING TO THE REPEAL OF SECTIONS 4911 T H R O U G H 4 9 3 1.

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 PUBLIC LAW 94-455—OCT. 4, 1976

^\.'•

(A)(i)(I) Section 263, as amended by this Act, is amended by striking out subsections (a)(3) and (d) (relating to the allowance of deductions for payment of interest equalization tax), and by redesignating subsections (e), (f), and (g) as subsections (d), (e),and (f), respectively. (II) Section 263(d), as redesignated by clause (i)(I) of this subparagraph, is amended by striking out "subsection (f)" and inserting in lieu thereof "subsection (e)". (ii) Section 6011 (relating to requirement of return, statement, or list) is amended by striking out subsection (d) (relating to interest equalization tax returns, etc.), and by redesignating subsections (e) and (f) as subsections (c) and (d), respectively. (iii)(I) Section 6076 (relating to time for filing interest equalization tax returns) is repealed. (II) The table of sections for part V of subchapter A of chapter 61 is amended by striking out the item relating to section 6076. (iv) Section 6611 (relating to interest on overpayments) is amended by striking out subsection (h) (relating to overpayments of interest equalization tax) and by redesignating subsection (i) as subsection (h). (v) Section 6651 (relating to failure to file tax return or to pay tax) is amended by striking out subsection (e) (relating to certain interest equalization tax returns). (vi)(I) Section 6680 (relating to failure to file interest equalization tax returns) is repealed. (II) The table of sections for subchapter B of chapter 68 is amended by striking out the item relating to section 6680. (vii) The amendments made by this subparagraph shall apply with respect to acquisitions of stock or debt obligations made after June 30, 1974, except that the repeal of paragraph (2) of section 6011(d) under clause (ii) shall apply with respect to loans and commitments made after such date. (B) Section 861(a)(1)(G) (relating to income from sources within the United States) is amended— (i) by striking out "section 4912(c)" and inserting in lieu thereof "subsection (c) of section 4912 (as in effect before July 1, 1974)"; and (ii) by striking out "section 4912(c)(2)" and inserting in lieu thereof "subsection (c)(2) of such section". (C) The second sentence of section 1232(b)(2) (relating to the definition of the issue price of bonds and otner evidences of indebtedness) is amended by striking out "section 4911" and inserting in lieu thereof "section 4911, as in effect before July 1, 1974". (D)(i) Section 6681 (relating to false equalization tax certificates) is repealed. (ii) The table of sections for subchapter B of chapter 68 is amended by striking out the item relating to section 6681. (iii) The amendments made by this subparagraph shall apply with respect to actions occurring after June 30, 1974. (E)(i) Section 6689 (relating to failure by certain foreign issuers and obligors to comply with United States investment equalization tax requirements) is repealed, (ii) The table of sections for subchapter B of chapter 68 is amended by striking out the item relating to section 6689.

90 STAT. 1817 26 USC 263. ^^

•

'

26 USC 6011.

26 USC 6076. ../.. - ' 26 USC 6611.

26 USC 6651. 26 USC 6680.

26 USC 263 ">®

26 USC 861.

26 USC 1232.

26 USC 6681.

26 USC 6681 not*26 USC 6689.

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 90 STAT. 1818 26 USC 6689 i ' "ote. 26 USC 7241.

26 USC 7241 note-

''

PUBLIC LAW 94-455—OCT. 4, 1976 (iii) The amendments made by this subparagraph shall apply with respect to stock or deot obligations issued after June 30, 1974. (F)(i) Section 7241 (relating to penalty for fraudulent equalization tax certificates) is repealed. (ii) The table of sections for part II of subchapter A of chapter 75 is amended by striking out the item relating to section 7241. (iii) The amendments made by this subparagraph shall apply with respect to statements and certificates executed after June 30, 1974. (G) The table of chapters for subtitle D is amended by striking out the item relating to chapter 41. (c) AMENDMENT TO PROVISION KEFERRING TO TERRITORIES.—Section

26 USC 4482.

4482(c)(1) is amended by striking out ", a Territory of the United States,". 26 USC 4041 (d) EPEECTIVE DATE.—Except as otherwise provided in this section, note. the amendments made by this section shall take effect on the first day of the first month which begins more than 90 days after the date of the enactment of this Act. SEC. 1905. AMENDMENTS OF SUBTITLE E; ALCOHOL, TOBACCO, AND V.,5^ CERTAIN OTHER EXaSE TAXES. (a) IN GENERAL.— (1) AMENDMENT OP SECTION SOOS.—Section 5005(c)(2) (relat-

26 USC 5005.

ing to transfers in bond of distilled spirits) is amended by striking out the last two sentences and inserting in lieu thereof the following: "Such relief from liability shall be effective from the time of removal from the transferor's bonded premises, or from the time of divestment of interest, whichever is later." (2) AMENDMENTS OF SECTION 5 0 0 8.—

26 USC 5008. tfti;

,.,j

c'.

J.

26 USC 5009. 26 USC 5025.

26 USC 5054.

(A) Section 5008(b)(1) (relating to abatement, remission, refund, and allowance for loss of destruction of distilled spirits) is amended by inserting immediately after "the tax imposed by this chapter" the following: "or by section 7652". (B) Section 5008(b)(2) is amended by striking out "the taxes imposed under section 5001(a)(1)" and all that follows and inserting in lieu thereof the following: "the taxes imposed under section 5001(a)(1), under subpart B of this part, or under section 7652 on the spirits so destroyed, to the proprietor of the distilled spirits plant who withdrew the distilled spirits on payment or determination of tax." (C) Subsections (c)(1) and (d)(1) of section 5008 are each amended by inserting immediately after "under section 5001 (a)(1)" the following: "or under section 7652". (D) Section 5008(d)(1) is amended by striking out ", on or after July 1, 1959,". (3) AMENDMENT OF SECTION SOOO.—Section 5009(b)(3) is amended by striking out "46 Stat. 694;". (4) AMENDMENT OF SECTION 5025.—Section 5025(j) (relating to stabilization of distilled spirits) is amended by striking out "the bottling of distilled spirits," and inserting in lieu thereof "the bottling of distilled spirits, or preparatory to exportation,". (5) AMENDMENT OF SECTION 5054.—Section 5054 (relating to determination and collection of tax on beer) is amended by striking out subsection (c) (relating to stamps or other devices as

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 PUBLIC LAW 94-455—OCT. 4, 1976 evidence of payment of tax) and by redesignating subsection (d) as subsection (c).

90 STAT. 1819

(6) AMENDMENTS OF SECTION 5 0 6 I. —

(A) Section 5061(a) (relating to collections of alcohol 26 USC 5061. taxes) is amended by striking out the last sentence. (B) Section 5061(b) (relating to methods of collection) is amended to read as follows: " (b) EXCEPTIONS.—Notwithstanding the provisions of subsection (a), any taxes imposed on, or amounts to be paid or collected in respect of, distilled spirits, wines, rectified distilled spirits and wines, and beer under— " (1) section 5001(a)(5), (6), o r (7), " (2) section 5006(c) or (d), "• " " (3) section 5026(a)(2), " (4) section 5 0 4 1 (d), • " (5) section 5043(a)(3), " (6) section 5054(a)(3) or (4), o r " (7) section 5505(a), shall be immediately due and payable at the time provided by such provisions (or if no specific time for payment is provided, at the time the event referred to in such provision occurs). Such taxes and amounts shall be assessed and collected by the Secretary on the basis of the information available to him in the same manner as taxes payable by return b u t with respect to which no r e t u r n has been filed." - ' (C) Section 5061(c) ( r e l a t i n g to a p p l i c a b i l i t y of other provisions of law) is amended to read as follows: " (c) IMPORT D U T I E S. — The internal revenue taxes imposed by this part shall be in addition to any import duties unless such duties a r e specifically designated as being in lieu of internal revenue tax. " (7) AMENDMENT o r SECTION 5 II 3. — S e c t i o n 5113(f)(1) (relat-

26 USC 5113.

i n g to retail dealers in liquors) is amended by striking out "wines or beer" and inserting in lieu thereof "distilled spirits, wines, or beer". (8) AMENDMENTS OF SECTION 5117.—Section 5117 (relating to

26 USC 5117.

prohibited purchases by dealers) is amended by redesignating subsection (b) as subsection (c) and by inserting after subsection (a) the following new subsection: " (b) LIMITED EETAIL DEALERS.—A limited retail dealer may lawfully purchase distilled spirits for resale from a retail dealer i n liquors." (9) AMENDMENT OF SECTION 5121.—Section 5121(c) (relating 26 USC 5121. to limited retail dealers) is amended to read as follows: " (c) LIMITED RETAIL DEALERS.—Every limited retail dealer shall p a y a special tax of $4.50 for each calendar month in which sales are made as such dealer; except that the special tax shall be $2.20 for each calendar month in which only sales of beer or wine are made." (10) AMENDMENT OF SECTION 5122.—Section 5122(c) (relating 26 USC 5122. to definition of limited retail dealer) is amended by striking out "beer or wine" each place it appears and inserting in lieu thereof "distilled spirits, wine, or beer". (11) AMENDMENT OF SECTION 5131.—Section 5131(a) (relating 26 USC 5131. to eligibility^ for drawback) is amended by striking out "produced in a domestic registered distillery or industrial alcohol p l a n t and withdrawn from bond, or using distilled spirits w i t h d r a w n from the bonded premises of a distilled spirits plant,".

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 90 STAT. 1820 26 USC 5142.

PUBLIC LAW 94-455—OCT. 4, 1976 (12) AMENDMENT OF SECTION 5142.—Section 5142(c) ( r e l a t i n g

to payment of occupational taxes) is amended to read a s follows: "(c) How PAID.—

Regulations.

" (1) P A Y M E N T BY RETURN.—The special taxes imposed by this part shall be paid on the basis of a r e t u r n under such regulations as the Secretary shall prescribe. " (2) S T A M P DENOTING PAYMENT OF TAX.—After receiving a p r o p -

erly executed r e t u r n and remittance of any special tax imposed by this subpart, the Secretary shall issue to the taxpayer an a p p r o p r i a t e s t a m p as a receipt denoting payment of the tax. T h i s paragraph shall not apply in the case of a return covering liability for a past period." 26 USC 5171.

(13) AMENDMENTS OF SECTION 5171.—Section 5171(b) (relating

to permits for operation of business as distillers, etc.) is amended— (A) in paragraph (1), by striking out "49 Stat. 978;", and (B) by striking out paragraph (3) (relating to continuance of business after June 30, 1959, pending application for permit). 26 USC 5174.

26 USC 5232.

26 USC 5233.

(14) AMENDMENT OF SECTION 5174.—Section 5 1 7 4 (a)(2)(A)

(relating to withdrawal bonds for distilled spirits) is amended by striking out "such s p i r i t s " and inserting in lieu thereof "distilled spirits from bond". (15) AMENDMENT OF SECTION 5232.—Section 5232(a) (relating to transfer of imported distilled spirits) is amended by striking out " and the importer " and inserting in lieu thereof " and the importer, or the person b r i n g i n g such distilled spirits into the United States,". (16) AMENDMENT OF SECTION 5233.—Section 5233(b)(4) (relating to bottling requirements) is amended by striking out "49

Stat. 977;". 26 USC 5234.

26 USC 5314.

26 USC 5815.

(17) AMENDMENT OF SECTION 5234.—The first sentence of section 5 2 3 4 (a)(2) (relating to the mingling of distilled spirits) is amended by striking out "8 year s " and inserting in lieu thereof "20 years". (18) AMENDMENT OF SECTION 5314.—Section 5314(a)(2) (relati n g to application of certain provisions to P u e r to Rico) is amended by striking out "section 5001(a)(4) " and inserting i n lieu thereof "section 5001(a) ( 1 0) ". (19) REPEAL OF SECTION 5315.—Section 5315 ( r e l a t i n g to the

status of certain distilled spirits on July 1, 1959) is repealed. 26 USC 5368.

Regulations.

26 USC 5392. 26 USC 5601.

(20) AMENDMENTS OF SECTION 5368.—

(A) The heading of section 5368 is amended to read as follows: "SEC. 5368. GAUGING AND MARKING." (B) Section 5368(b) (relating to removal of wines) is amended to read as follows: " (b) MARKING.—Wines shall be removed in such containers (includi n g vessels, vehicles, and pipelines) bearing such m a r k s and labels, evidencing compliance with this chapter, as the Secretary may by regulations prescribe." (21) AMENDMENT OF SECTION 5392.—Section 5392(f) (defining own production) is amended by striking out "49 Stat. 990;". (22) AMENDMENTS o r SECTION 5 6 0 I. — S e c t i o n 5601(b) ( r e l a t i n g

to presumptions in the case of criminal penalties) is amended to read as follows:

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 PUBLIC LAW 94-455—OCT. 4, 1976

90 STAT. 1821

" (b) PRESUMPTION.—Whenever on t r i a l for violation of subsection (a)(4) the defendant is shown to have been a t the site or place where, and a t the time when, the business of a distiller o r rectifier was so engaged in or carried on, such presence of the defendant shall be deemed sufficient evidence to authorize conviction, unless the defendant explains such presence to the satisfaction of the j u r y ( o r of the court when tried without j u r y). "

•

(23) AMENDMENTS o r SECTION 5 6 S 5. —

(A) Section 5685(a) (relating to penalty for possession 26 USC 5685. of devices for emitting gas, smoke, etc.) is amended by striking out "section 5848" and inserting in lieu thereof "section 5845". (B) Section 5685(c) (relating to forfeiture of firearms, - devices, etc.) is amended by striking out "section 5862" and inserting i n lieu thereof "section 5872". (C) Section 5685(d) (relating to the definition of machine •"' '•• -" g u n) is amended to read as follows:

 * i

" (d) DEFINITION o r M A C H I N E G U N. — A s used in t h i s section, the

term 'machine g u n ' means a machinegun as defined in section 5845(b). " (24) AMENDMENT OF SECTION 5701.—Section 5701(e) ( r e l a t i n g

26 USC 5701.

to imported tobacco products, etc.) is amended by striking out "such articles" and inserting in lieu thereof "such articles, unless such import duties are imposed in lieu of internal revenue tax". (25) AMENDMENTS OF SECTION 5703.—

'

'

(A) Section 5703(a)(2) (relating to transfer of liability 26 USC 5703. for tobacco taxes) is amended by adding a t the end thereof the following new sentence: " A l l provisions of this chapter applicable to tobacco products and cigarette papers and tubes in bond shall be applicable to such articles returned to bond ,., upon withdrawal from the market o r returned to bond after previous removal for a tax-exempt purpose." (B) The second sentence of section 5703(b) (relating to method of payment of tobacco taxes) is amended by striking out ", except that the taxes shall continue to be paid by stamp until the Secretary or his delegate provides, by regulations, for the payment of the taxes on the basis of a return". (C) Section 5703 is amended by striking out subsection (c) (relating to stamps to evidence tobacco taxes) and by redesignating subsections (d) and (e) as subsections (c) and (d), respectively. (26) AMENDMENTS o r SECTION 5704.—Subsections (c) and (d)

of section 5704 (relating to exemptions from tobacco taxes) a r e 26 USC 5704. each amended by inserting after "to a manufacturer of tobacco products or cigarette papers and tubes" the following: "or to the proprietor of an export warehouse". (27) AMENDMENT OF SECTION 5712.—Section 5712 ( r e l a t i n g to

'

26 USC 5712.

application for permit) is amended by striking out the last sentence. (28) AMENDMENTS OF SECTION 5723.—

(A) The heading of section 5723 is amended by striking 26 USC 5723. out "NOTICES, AND STAMPS" and inserting in lieu thereof "AND NOTICES". (B) Section 5723(b) (relating to marks, and so forth, on packages) is amended to read as follows: " (b) M A R K S, LABELS, AND NOTICES.—Every package of tobacco prod-

ucts or cigarette papers or tubes shall, before removal, bear the marks, labels, and notices, if any, that the Secretary by regulation prescribes."

-194 O—78—pt. 2

23

Regulation,

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 90 STAT. 1822

PUBLIC LAW 94-455—OCT. 4, 1976 (b) CONFORMING AND CLERICAL AMENDMENTS.— (1) AMENDMENTS coNroRMiNG TO AMENDMENT OP SECTION 5054.—

, 26 USC 5676.

(A) Section 5676 (relating to beer stamp penalties) is repealed. (B) The table of sections for part III of subchapter J of chapter 51 is amended by striking out the item relating to section 5676.

,

(2) AMENDMENTS CONFORMING TO AMENDMENTS OF SECTION 5061.—

26 USC 5007.

(A) Section 5007(b)(1) is amended by striking out the second sentence. (B) Section 5026(b) is amended by striking out "Except as provided in subsection (a)(2), the taxes" and inserting

26 USC 5026.

i n llGU tllGrGOI ^'TllB tRXGS

26 USC 5043.

(C) Section 5043(b) is amended by striking out "Except as provided in subsection (a)(3), the taxes" and inserting in lieu thereof "The taxes". (D) Section 5662 is amended by striking out "stamp," each place it appears. (E)(i) Section 5689 (relating to penalty and forfeiture for tampering with a stamp machine) is repealed. (ii) The table of sections for part IV of subchapter J of chapter 61 is amended by striking out the item relating to section 5689. (iii) Section 5061 is amended by striking out subsection (d).

26 USC 5662. 26 USC 5689. , -'•'"•" 26 USC 5061.

(3) 5142.

26 USC 5104. .

,

26 USC 5111. 26 USC 5121. 26 USC 5144.

26 USC 5148. ,

AMENDMENTS CONFORMING TO AMENDMENT OF SECTION

(A)(i) Section 5104 (relating to method of payment of tax on stills) is repealed. (ii) The table of sections for subpart C of part II of subchapter A of chapter 51 is amended by striking out the item relating to section 5104. (B) Section 5111(a) is amended by striking out the second sentence. (C) Section 5121(a) is amended by striking out the second sentence. (D)(i) Section 5144 (relating to supply of stamps) is repealed. (ii) The table of sections for subpart G of part II of subchapter A of chapter 51 is amended by striking out the item relating to section 5144. (E) Section 5148(3) is amended by striking out "penalties" and inserting in lieu thereof "penalties, authority for assessments,". (4) AMENDMENT CONFORMING TO THE REPEAL OF SECTION 5315.-—

The table of sections for part III of subchapter E of chapter 51 is amended by striking out the item relating to section 5315. (5)

\, ' i i^-;/'

AMENDMENT CONFORMING TO THE AMENDMENT OP SECTION

5368.—The item relating to section 5368 in the table of sections for part II of subchapter F of chapter 51 is amended to read as follows: "Sec. 5368. Gauging and marking." (6) AMENDMENTS CONFORMING TO THE AMENDMENT OF SECTION 5601.—

-A X

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 PUBLIC LAW 94-455—OCT. 4, 1976

. n*

(A) Section 6105(b)(2) is amended by striking out ",6601 (b)(1),". (B) Section 6177(b)(2) is amended by striking out "5601 (b)(2)," and inserting in lieu thereof "5601 (b),". (C) Section 5179(b)(1) is amended by striking out ", 5601 (b)(1),". (D) Section 5222(d) is amended by striking out "5601 (b) (3), 5601(b)(4),". (E) Section 5505(i) is amended by striking out "5601(b) (I),"-

90 STAT. 1823 26 USC 5105. 26 USC 5177. 26 USC 5179. 26 USC 5222. 26 USC 5505.

(7) AMENDMENTS CONFORMING TO THE AMENDMENT OF SECTION 5723.—

(A) Paragraphs (2) and (3) of section 6751(a) are each 26 USC 5751. amended by striking out "notices, and stamps" and inserting in lieu thereof "and notices". (B)(i) Section 5752 is amended to read as follows: "SEC. 5752. RESTRICTIONS RELATING TO MARKS, LABELS, NOTICES, 26 USC 5752. AND PACKAGES. "No person shall, with intent to defraud the United States, destroy, obliterate, or detach any mark, label, or notice prescribed or authorized, by this chapter or regulations thereunder, to appear on, or be affixed to, any package of tobacco products or cigarette papers or tubes, before such package is emptied." (ii) Section 5762(a) is amended by striking out paragraphs 26 USC 5762. (6), (7), (8), (9), (10), and (11) and inserting in lieu thereof ' the following: "(6) DESTROYING, OBLITERATING, OR DETACHING MARKS, LABELS, O NOTICES BEFORE PACKAGES ARE EMPTIED.—Violates any provision R

of section 5752;". (iii) The item relating to section 5752 in the table of sections for subchapter E of chapter 62 is amended to read as follows: "Sec. 5752. Restrictions relating to marks, labels, notices, and packages." (C)(i) Section 5763(a)(2) is amended by striking out 26 USC 5763. "notices, and stamps" and inserting in lieu thereof "and notices". (ii) Section 5763(b) is amended by striking out "internal (D) The item relating to section 5723 in the table of sections for subchapter C of chapter 52 is amended to read as follows: "Sec. 5723. Packages, marks, labels, and notices." ' • (c)
 * - revenue stamps,".

AMENDMENTS TO PROVISIONS REFERRING TO TERRITORIES.—

(1) Section 6114(b) is amended by striking out "or Territory" each place it appears and by striking out "Territories,". (2) Section 6214(a)(2) is amended by striking out "or Territory" each place it appears. (3) Section 5272(b) is amended by striking out "and Territories". (4) Section 5362(c)(9) is amended by striking out "and Territories". (5) Section 5651(b)(2) is amended by striking out "Territory, or". (6) Section 5685(a) is amended by striking out "Territory or".

26 USC 5114. 26 USC 5214. 26 USC 5272. 26 USC 5362. 26 USC 5551. 26 USC 5685.

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 90 STAT. 1824 26 USC 5005 °ot6-

^

PUBLIC LAW 94-455—OCT. 4, 1976 (d) EFFECTIVE D A T E. — The amendments m a d e by t h i s section shall take effect on the first d a y of the first month which begins more than 90 days after the date of the enactment of this Act. SEC. 1906. AMENDMENTS OF SUBTITLE F; PROCEDURE AND ADMINISTRATION. (a) IN GENERAL.— (1) AMENDMENTS OF SECTION e o i s. —

26 USC 6013.

(A) Section 6 0 1 3 (b)(2)(C) (relating to petition to the T a x Court) is amended by striking o u t "of the United States". (B) The heading of section 6013(d) is amended to read as follows: " (d) SPECIAL RULES. — ".

(C) Section 6 0 1 3 (d)(1) (relating to joint r e t u r n after death of one spouse) is amended by striking o u t " and " a t the end of subparagraph ^A) and inserting i n lieu thereof "or", and by striking out " and " a t the end of the subparagraph (B). 26 USC 6015.

26 USC 6037.

26 USC 6046.

26 USC 6051.

26 USC 6065.

(2) AMENDMENT OF SECTION eois.—Section 6015 ( r e l a t i n g to

declaration of estimated tax by individuals) is amended by striking out subsection (j) (relating to an effective date provision). (3) AMENDMENT OF SECTION 60 37.—Section 6037 (relating to returns of subchapter S corporations) is amended by striking o u t "section 1371(a)(2) " and inserting in lieu thereof "section 1371 (b)". (4) AMENDMENT OF SECTION 6046.—Section 6046(e) (relating to information as to organization of foreign corporation) is amended to read as follows: " (e) LIMITATION.—No information shall be required to be furnished under this section with respect to any foreign corporation unless such information was required to be furnished under regulations which have been in effect for a t least 90 days before the date on which the United States citizen, resident, o r person becomes liable to file a r e t u r n required under subsection (a). " (5) AMENDMENT OF SECTION 6051.—Section 6051(a)

(relating

to information required to be furnished to employees) is amended by striking out " and " where i t appears a t the end of paragraph (6). (6) AMENDMENTS o r SECTION eoes.—Section 6065 (relating to verification of returns) is amended by striking out subsection (b) (relating to verification by o a t h), and by striking out in subsection (a) the following: " (a) P E N A L T I E S OF P E R J U R Y. — ".

26 USC 6105.

(7) REPEAL OF SECTION 6IO5.—Section 6105 ( r e l a t i n g to com-

pilation of d a t a for certain excess profits tax cases) is repealed. 26 USC 6111.

(8) AMENDMENT OF SECTION e m. — S e c t i o n 6111 ( r e l a t i n g to

cross references), as redesignated by this Act, is amended to read as follows: "SEC. 6111. CROSS REFERENCE. Ante, p. 1686.

26 USC 6152.

26 USC 1.

"For inspection of records, returns, etc., concerning gasoline or lubricating oils, see section 4102."

(9) AMENDMENT OF SECTION 6152.—Section 6152(a)(1) (relat-

ing to installment payments by corporations) is amended to read as follows: " (1) CORPORATIONS.—^A corporation subject to the taxes imposed by chapter 1 may elect to p a y the u n p a i d amount of such taxes i n two equal installments."

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 PUBLIC LAW 94-455—OCT. 4, 1976

90 STAT. 1825

(10) AMENDMENTS OF SECTION 615 4.—

(A) Section 6154(c)(1)(B) (relating to definition of esti- 26 USC 6154. mated tax) is amended— (i) by a d d i n g " and " after the comma a t the end of clause (i), and (ii) by striking out clauses (ii) and (iii) and inserting in lieu thereof the following: " ( i i) i n the case of a taxable year beginning before January 1, 1977, the amount of the corporation's temporary estimated tax exemption for such year." (B) Section 6154(c)(2)(A) (ii) (relating to temporary estimated tax payments) is amended by striking out "clauses (ii) and ( i i i) " and inserting in lieu thereof "clause ( i i) ". ' ' (C) Section 6 1 5 4 (c)(2)(B) (relating to estimated tax) is amended by striking out the following: "1968, 1969, 1970, 1971, and 1972 100 percent 1973 80 percent " '1974 60 percent". (D) Section 6154(c) (relating to estimated tax) is amended by striking out paragraph (3) (relating to transitional exemption for taxable years beginning before 1972). (11) AMENDMENTS o r SECTION 6157.—

(A) Section 6157 (relating to payment of Federal unem- 26 USC 6157. ployment tax) is amended by striking out subsection (c) (relating to special rules for 1970 and 1971), and by redesignating subsection (d) as subsection (c). (B) Section 6157(a) is amended by striking out "subsections (c) and (d) " and inserting in lieu thereof "subsection (c)". (12) REPEAL OF SECTION 6I62.—Section 6162 ( r e l a t i n g to p a y - 26 USC 6162.

ment of tax on gain on liquidation of certain personal holding companies) is repealed. (13) AMENDMENT OF SECTION 6 20 5.—Section 6205(a)(4) (relat- 26 USC 6205. i n g to District of Columbia as employer) is amended by striking out "Commissioners of the District of Columbia and each agent -,. designated by the m " and inserting in lieu thereof "Mayor of the District of Columbia and each agent designated by h i m ". (14) AMENDMENT OF SECTION 6207.—Section 6207 (relating to 26 USC 6207. cross references) is amended by striking o u t paragraph (7). (15) AMENDMENT OF SECTION 6213.—Section 6213(a) (relating Ante, p. 1698. to time for filing petition with the T a x Court) is amended by striking out "States of the Union and the District of Columbia" and inserting i n lieu thereof " United States". (16) AMENDMENT O F SECTION 6215.—Section 6 2 1 5 (b)(5)

(a

26 USC 6215.

cross reference) is amended by striking out "60 Stat. 4 8; ". (17) AMENDMENT OP SECTION 6302.—Section 6302(b) (relating 26 USC 6302. to collection of certain excise taxes) is amended by striking o u t "sections 4501(a) or 4511 of chapter 37, or section 4701 or 4721 of chapter 39" and inserting in lieu thereof "section 4501(a) of chapter 37". (18) REPEAL OF SECTION 6304.—Section 6304 (relating to a cross 26 USC 6304. reference) is repealed. (19) AMENDMENT OF SECTION 6 3 1 3. — S e c t i o n 6313 ( r e l a t i n g to

fractional part s of a cent) is amended by striking out "not payable by s t a m p ". (20) AMENDMENTS OF SECTION 632 6.—

26 USC 6313.

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Page:United States Statutes at Large Volume 90 Part 2.djvu/358

 90 STAT. 1826 26 USC 6326.

26 USC 6365.

26 USC 6412.

PUBLIC LAW 94-455—OCT. 4, 1976 (A) Paragraph (2) of section 6326 (cross references) is amended by striking out "52 Stat. 851;". (B) Paragraph (3) of section 6326 is amended by striking out "52 Stat. 867;". (C) Paragraph (4) of section 6326 is amended by striking out "62 Stat. 867-877;". (D) Paragraph (5) of section 6326 is amended by striking out "52 Stat. 938;". (21) AMENDMENT OF SECTION 6365.—Section 6365(b) (relating to definition of governor) is amended by striking out "Commissioner of the District of Columbia" and inserting in lieu thereof "Mayor of the District of Columbia". (22) AMENDMENT or SECTION 6412.—Section 6412(a) (relating to floor stock refunds) is amended by redesignating paragraphs (2) and (4) as paragraphs (1) and (2), respectively. (23) AMENDMENTS OF SECTION 6 413.—

26 USC 6413.

. f., w'. - «?r"

42 USC 430. .;

"Wages." > .Tt^S^-:** " cg^^j g

>;., - i r 26 USC 6413 i»ote. 26 USC 6413.

(A) Section 6413(a)(4) (relating to District of Columbia as employer) is amended by striking out "Commissioners of the District of Columbia and each agent designated by the m " and inserting in lieu thereof "Mayor of the District of Columbia and each agent designated by him". (B)(i) Section 6413(c)(1) (relating to refunds of certain employment taxes) is amended to read as follows: " (1) IN GENERAL.—If by reason of an employee receiving wages from more than one employer during a calendar year the wages received by him during such year exceed the contribution and benefit base (as determined under section 230 of the Social Security Act) which is effective with respect to such year, the employee shall be entitled (subject to the provisions of section 31 (b)) to a credit or refund of any amount of tax, with respect to such wages, imposed by section 3101 or section 3201, or by both such sections, and deducted from the employee's wages (whether or not paid to the Secretary), which exceeds the tax with respect to the amount of such wages received in such year which is equal to such contribution and oenefit base. The term 'wages' as used in this paragraph shall, for purposes of this paragraph, include 'compensation'as defined in section 3231(e)." (ii) So much of section 6413(c)(2)(A) (relating to Federal employees) as follows " and the term 'wages' includes" is amended to read as follows: "for purposes of this subsection the amount, not to exceed an amount equal to the contribution and benefit base (as determined under section 230 of the Social Security Act) for any calendar year with respect to which such contribution and benefit base is effective, determined by each such head or agent as constituting wages paid to an employee." (iii) The amendments made by clauses (i) and (ii) shall apply with respect to remuneration paid after December 31, 1976. (C) Section 6 4 1 3 (c)(2)(F) (relating to government employees in the District of Columbia) is amended by striking out "Commissioners of the District of Columbia and each agent designated by the m " and inserting in lieu thereof "Mayor of the District of Columbia and each agent designated by him".

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 PUBLIC LAW 94-455—OCT. 4, 1976

90 STAT. 1827

(D) Section 6413(c)(3) (relating to special refunds) is 26 USC 6413. amended by striking out "after 1967". (24) AMENDMENTS OF SECTION 6 416.—

(A) Section 6416(a)(3) (relating to special rules for 26 USC 6416. refund of overpayment of tax) is amended by redesignating subparagraphs (C) and (D) as subparagraphs (A) and (B), respectively. (B)(i) Section 6416(b)(2) (relating to overpayments of certam excise taxes), as amended by section 2108 of this Act, Post, p. 1904. is amended by striking out subparagraphs (G), (H), (I), and (J), and by redesignating subparagraphs (F), (K), (L), (M), (K), (S), and (T) as subparagraphs (E), (F), (G), (H), (I), (J), and (K),respectively. •..,»f

(ii) The repeals made by clause (i) shall apply with 26 USC 6416 respect to the use or resale for use of liquids after December 31, "o*®1976. (25) REPEAL or SECTION 64IT.—Section 6417 (relating to coco- 26 USC 6417.

nut and palm oil) is repealed. ( 2 6) AMENDMENTS OF SECTION 6420.—

(A) Section 6420(b) (relating to time for filing refund 26 USC 6420. claims on gasoline) is amended to read as follows: "(b) TIME FOR FILING CLAIMS; PERIOD COVERED.—Not more than one claim may be filed under this section by any person with respect to gasoline used during his taxable year, and no claim shall be allowed under this section with respect to gasoline used during any taxable year unless filed by such person not later than the time prescribed by law for filing a claim for credit or refund of overpayment of income tax for such taxable year. For purposes of this subsection, a person's taxable year shall be his taxable year for purposes of subtitle A." 26 USC 1. (B) Section 6420(e)(1) (relating to application of other ' laws) is amended by striking out "apply in in respect" and inserting in lieu thereof "apply in respect". (C)(1) Section 6420 is amended by striking out subsection (g) (relating to effective date) and by redesignating subsections (h) and (i) as subsections (g) and (h), respectively. (ii) Section 6420(a) is amended by striking out "subsection (h) " and inserting in lieu thereof "subsection (g)". (D) Section 6420(g) (relating to income tax credit in liei|^ of gas tax refund), as redesignated by subparagraph (C)(i) of this paragraph, is amended by striking out "with respect to gasoline used after June 30. 1965," and "for gasoline used after June 30, 1965". (27) AMENDMENTS OP SECTION 6 4 21.—

(A)(i) Subsections (a) and (e)(3) of section 6421 (relat- 26 USC 6421. in^ to nonhighway use of gasoline) are each amended by striking out "after June 30, 1970,". (ii) The amendments made by clause (i) shall only apply 26 USC 6421 with respect to gasoline used as a fuel after June 30, 1970. note. (B) Section 6421(c) (relating to nonhighway use of gasoline) is amended to read as follows: "(c) TIME FOR FILING CLAIMS; PERIOD COVERED.—

"(1) IN GENERAL.—Except as provided in paragraph (2), not more than one claim may be filed under subsection (a), and not more than one claim may be filed under subsection (b), by any person with respect to gasoline used during his taxable year; and no claim shall be allowed under this paragraph with respect to gasoline used during any taxable year unless filed by such person

^

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Page:United States Statutes at Large Volume 90 Part 2.djvu/360

 90 STAT. 1828

26 USC 1.

' 26 USC 6421.

'*' ' ' "- -

•'•

PUBLIC LAW 94-455—OCT. 4, 1976 not later than the time prescribed by law for filing a claim for credit or refund of overpayment of income tax for such taxable year. For purposes of this subsection, a person's taxable year shall be his taxable year for purposes of subtitle A. "(2) EXCEPTION-.—If $1,000 or more is payable under this section to any person with respect to gasoline used during any of the first three quarters of his taxable year, a claim may be filed under this section by such person with respect to gasoline used during such quarter. No claim filed under this paragraph shall be allowed unless filed on or before the last day of the first quarter following the quarter for which the claim is filed." (C) Section 6421(h) (relating to effective dates) is amended by striking out "after June 30, 1956, and". (D) Section 6421(i) (relating to income tax credit in lieu of refund) is amended— (i) by striking out, in paragraph (1), "with respect to gasoline used after June 30, 1965,", (ii) by striking out, in paragraph (2), "subsection (c) (3)(B) " and inserting in lieu thereof "subsection (c) (2)", and (iii) by striking out, in paragraph (3), "for gasoline used after June 30, 1965." (28) AMENDMENTS OF SECTION 642 2.—

26 USC 6422.

(A) Paragraph (9) of section 6422 (relating to cross references), as redesignated by section 1901(b) (36)(B), is amended by striking out "60 Stat. 48;". (B) Paragraph (11) of section 6422, as so redesignated, is amended by striking out "47 Stat. 1516;". (29) AMENDMENTS OF SECTION 6423.— (A) Section 6423(b) (relating to filing of refund claim in 26 USC 6423. case of alcohol and tobacco taxes) is amended to read as follows: Regulations. "(b) FILING or CLAIMS.—No credit or refund of any amount to which subsection (a) applies shall be allowed or made unless a claim therefor has been filed by the person who paid the amount claimed, and unless such claim is filed within the time prescribed by law and in accordance with regulations prescribed by the Secretary. All evidence relied upon in support of such claim shall be clearly set forth and submitted with the claim." (B) Section 6423 is amended by striking out subsection (c) (relating to suits barred on April 30, 1958) and by redesignating subsections (d) and (e) as subsections (c) and (d), respectively. redesignated by subparagraph (B) of this paragraph, is amended by adding "and" at the end of paragraph (1), by '• striking out ", and" at the end of paragraph (2) and inserting in lieu thereof a period, and by striking out paragraph (3). (30) AMENDMENTS OF SECTION 6424.— ^6 USC 6424. (A) The last sentence of section 6424(b)(1) (relating to refund claims with respect to lubricating oil) is amended by striking out ", except that a person's first taxable year beginning after December 31, 1965, shall include the period after December 31, 1965, and before the beginning of such first taxable year".
 * vM J^.-'» of(C) Section 6423(c) (relating to application of section), as

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 PUBLIC LAW 94-455—OCT. 4, 1976

90 STAT. 1829

(B) Section 6424 (relating to lubricating oil not used in 26 USC 6424. h i g h w a y motor vehicles) is amended by striking out subsection (f) (relating to effective date of section), and by redesignating subsections (g) and (h) as subsections (f) and .. (g), respectively. (31)

AMENDMENTS o r SECTION 6427.—

(A) Subsections (a), (b), and (c) of section 6427 (relating 26 USC 6427. to fuels not used for taxable purposes) are each amended by striking out ", after June 30. 1970,". (B) The amendments made by subparagraph (A) shall 26 USC 6427 apply only with respect to fuel used or resold after June 30, °<**®' 1970. (32)

(A) Section 6504 (relating to cross references) is amended 26 USC 6504. by striking out paragraph s (13) and (14) and inserting in lieu thereof: "(13) Assessments to recover excessive amounts paid under section 6420 (relating to gasoline used on farms), 6421 (relating to gasoline used for certain nonhighway purposes or by local transit systems), 6424 (relating to lubricating oil not used in highway motor vehicles), or 6427 (relating to fuels not used for taxable purposes) and assess,. ments of civil penalties under section 6675 for excessive claims under section 6420, 6421, 6424, or 6427, see section 6206." (B) Section 6504, as amended by this Act, is further amended by redesignating paragraph s (2), (3), (4), (5), (9), ( 1 0), ' ( 1 1), (12), (13), and (15) as paragraph s (1), " ' (2), (3), (4), (5), (6), (7), (8), (9), and (10), respectively.

•=...

AMENDMENTS OF SECTION 6 5 0 4. —

^

(33) AMENDMENTS OF SECTION 6 S 11.—

,

(A) Section 6511(d)(2)(A) (ii) (relating to net oper- 26 USC 6511. ating loss carryback) is amended by striking out "September 1, 1959, o r " and by striking out ", whichever is the later". (B) Section 6511(d)(5) is amended by striking out "the later of the following dates: (A) ", and by s t r i k m g out ", or (B) December 31, 1965". (34) AMENDMENT OF SECTION 6GOI.—Section 6601(h) ( r e l a t i n g

to interest on estimated tax payments) is amended by striking out " (or section 59 of the I n t e r n a l Revenue Code of 1939)". (35) AMENDMENT OF SECTION 6654.—Section 6654 (relating to payment of estimated income tax) is amended by striking out subsection (h) (relating to applicability of section). (36) AMENDMENT OF SECTION 6802.—Section 6802(2) (relating to supply and distribution of stamps) is amended by striking out the semicolon at the end and inserting in lieu thereof a period. (37) AMENDMENT OF SECTION 6803.—Section 6803 (relating to accounting and safeguarding is amended to read as follows: "SEC. 6803. ACCOUNTING AND SAFEGUARDING. " (a) B O N D. — I n cases coming within the provisions of paragraph (2) of section 6802, the Secretary may require a bond, with sufficient sureties, in a sum to be fixed by the Secretary, conditioned for the faithful return, whenever so required, of all quantities or amounts undisposed of and for the payment monthly for all quantities or amounts sold or not remaining on hand. " (b) REGULATIONS.—The Secretary may from time to time make such regulations as he may find necessary to insure the safekeeping or prevent the illegal use of all adhesive stamps referred to in paragraph (2) of section 6802."

26 USC 6601.

53 Stat. 32. 26 USC 6654. 26 USC 6802.

26 USC 6803.

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 90 STAT. 1830

PUBLIC LAW 94-455—OCT. 4, 1976

26 USC 6863.

(38) AMENDMENT o r SECTION 6863.—Section 6 8 6 3 (b)(3) (relating to stay of sale of seized property p e n d i n g T a x Court decision) is amended by striking out subparagraph (C) (relating to effective date).

26 USC 7012.

(39) AMENDMENT o r SECTION 7OI2.—Section 7012 (relating to

^,p, '

,;,,••

26 USC 7103.

cross references), as amended by section 1904(b)(8)(C) of this Act, is amended to read as follows: "SEC. 7012. CROSS REFERENCES. "(1) For provisions relatinjf to registration in connection with firearms, see sections 5802,5841, and 5861. "(2) For special rules with respect to registration by persons engaged in receiving wagers, see section 4412. "(3) For provisions relating to registration in relation to the production or importation of gasoline, see section 4101. "(4) For provisions relating to registration in relation to the manufacture or production of lubricating oils, see section 4101. "(5) For penalty for failure to register, see section 7272. "(6) For other penalties for failure to register with respect to wagering, see section 7262." (40) AMENDMENT OF SECTION 7IO3.—Section 7103 ( r e l a t i n g to

cross references regarding bonds) is amended by striking out subsection (d). 26 USC 7271.

26 USC 7272. 26 USC 7326.

26 USC 7422.

(41) AMENDMENTS OF SECTION 7271.—Section 7271 ( r e l a t i n g to

penalties for offenses concerning stamps) is amended by striking out paragraph (2), and by redesignating paragraph s (3) and (4) as paragraph s (2) and (3), respectively. (42) AMENDMENT OF SECTION 7272.—Section 7272(b) (relating to cross references) is amended by striking out "4722, 4753,". (43) AMENDMENTS OF SECTION 7326.—Section 7326 (relating to disposal of forfeited property) is amended— (A) by striking out "section 5 8 6 2 (b) " and inserting in lieu thereof "section 5872(b) ", and (B) by redesignating subsection (c) as subsection (b). (44) AMENDMENTS OF SECTION 7422.—Section 7422(c) (relating to suits against collection officers) is amended by striking out "instituted after June 15, 1942,", and by striking out "where the petition to the T a x Court was filed after such date". (45) AMENDMENTS OF SECTION 7428.—

26 USC 7428. ?-;g,^< p };.

.

.: ^

(A) Paragraph (1) of section 7428 (cross references), as redesignated by this Act, is amended by striking out "52 Stat. 8 5 1; ". (B) Paragraph (2) of such section 7428 is amended by striking out "52 Stat. 867;". (C) Paragraph (3) of such section 7428 is amended by striking out "52 Stat. 876-877;". (D) Paragraph (4) of such section 7428 is amended by striking out ^52 Stat. 938;". ( 4 6) AMENDMENTS OF SECTION 7 4 4 8. —

26 USC 7448. "Surviving spouse."

(A) Subsection (a)(6) of section 7448 (relating to annuities to widows and dependent children of T a x Court, judges) is amended— (i) by striking out " The term 'widow' means a survivi n g wife of" and inserting in lieu thereof " The terra 'surviving spouse' means a surviving spouse of"; and (ii) by striking out "the mother of issue" and inserting in lieu thereof " a p a r e n t of issue". (B) Section 7448(h) is amended—

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 PUBLIC LAW 94-455—OCT. 4, 1976

 * t: 1,

i..;

90 STAT. 1831

(i) by striking out "surviving widow or widower" and inserting in lieu thereof "surviving spouse"; (ii) by striking out "such widow" each place it appears and inserting in lieu thereof "such surviving spouse"; (iii) by striking out "a widow" each place it appears -^;^: and inserting in lieu thereof "a surviving spouse"; (iv) by striking out "widow's" each place it appears and inserting in lieu thereof "surviving spouse's"; and (v) by striking out "surviving her" and inserting in lieu thereof "surviving such spouse". (C) Sections 7448(h) and (o) are each amended by strik- 26 USC 7448. ing out "she" and inserting in lieu thereof "such spouse". (D) Section 7448(o) is amended by striking out "her" and inserting in lieu thereof "such spouse's". (E) Sections 7448(d), (j), (m), (n), (o), and (q) are each amended by striking out "widow" each place it appears and inserting in lieu thereof "surviving spouse". ... (F) The section heading for section 7448 is amended by ^^ f -^ striking out "WIDOWS" and inserting in lieu thereof "SURVIVING SPOUSES". ( 4 7) AMENDMENTS o r SECTION 7 4 7 1. —

(A) Subsection (a) of section 7471 (relating to Tax Court employees) is amended by striking out "is authorized in accordance with the civil service laws to appoint, and in accordance with the Classification Act of 1949 (63 Stat. 954; 5 U.S.C. chapter 21), as amended, to fix the compensation of," and inserting in lieu thereof "is authorized to appoint, in accordance with the provisions of title 5, United States Code, governing appointment in the competitive service, and to fix the basic pay of, in accordance with chapter 51 and subchapter III of chapter 53 of such title,". (B) Subsection (b) of section 7471 is amended by striking out "as provided in the Travel Expense Act of 1949 (63 Stat. 166; 5 U.S.C. chapter 16)." and inserting in lieu thereof "as provided in chapter 57 of title 5, United States Code." (48) AMENDMENT OF SECTION 7476.—Section 7476(a) (relating to declaratory judgments) is amended by striking out so much thereof as follows paragraph (2)(B) and inserting in lieu thereof the following: "upon the filing of an appropriate pleading, the Tax Court may make a declaration with respect to such initial qualification or continuing qualification. Any such declaration shall have the force and effect of a decision of the Tax Court and shall be reviewable as such." (49) AMENDMENT OF SECTION 7502.—Section 7502(b) (relating to timely mailing treated as timely filing and paying) is amended by striking out "United State Post Office" and inserting in lieu thereof "United States Postal Service". (50) AMENDMENTS or SECTION 7507.—Paragraphs (2) and (3) of section 7507(c) (relating to insolvent banks) are each amended by striking out "after May 28, 1938,". (51) AMENDMENTS OF SECTION 7508.— (A) The heading of section 7508 (relating to time for performing certain acts) is amended by striking out "BY REASON OF WAR" and inserting in lieu thereof "BY REASON OF SERVICE IN COMBAT ZONE".

26 USC 7471.

5 USC 101 et 5331. 5 USC 5701. 26 USC 7476.
 * 95 USC 5101,

26 USC 7502. n

26 USC 7507. 26 USC 7508.

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 90 STAT. 1832 26 USC 7508.

PUBLIC LAW 94-455—OCT. 4, 1976

(B) Section 7508(a) (relating to time to be disregarded) is amended by striking out "States of the Union and the District of Columbia" each place i t appears and inserting in lieu thereof " United States". (52) AMENDMENTS OF SECTION 7 509.—Section 7509 (relating to expenditures incurred by the P o s t Office Department) is amended— (A) in the section heading, by striking out "POST OFFICE DEPARTMENT" and inserting in lieu thereof "UNITED STATES POSTAL SERVICE"; (B) by striking out " P o s t Office Department " each place it appears and inserting in lieu thereof "United States Postal Service"; (C) by striking out "such Department " and inserting in lieu thereof "such Service"; and (D) by striking out ", together with the receipts required to be deposited under section 6803(a),". (63) AMENDMENT OF SECTION 7621.—Section 7621(b) (relating to boundaries of internal revenue districts) is amended to read as follows: " (b) BOUNDARIES.—For the purpose mentioned in subsection (a), the President may subdivide any State or the District of Columbia, or may unite into one district two or more States."

26 USC 7509.

,

Ante, p. 1829. 26 USC 7621.

Repeal

(54) REPEAL or SECTION 7 6 4 I. — Subchapter C of chapter 78

26 USC 7641.

(relating to supervision of operations of certain manufacturers) is repealed. (55) AMENDMENTS OF SECTION 7652.—Section 7 6 5 2 (b)(3) (relating to disposition of internal revenue collections) is amended— (A) by striking out subparagraph (B) and by redesignating subparagraph (C) as subparagraph (B). (B) by striking out "approved emergency relief purposes and essential public projects as provided m subparagraph (B) " and inserting in lieu thereof "emergency relief purposes and essential public projects, with the prior approval of the President or his designated representative", and (C) by striking out ", including payments under subparagraph (B),". (56) AMENDMENT OF SECTION 765 3.—Section 7653(d) ( a c r o s s reference) is amended by striking out "c. 512, 64 Stat. 392, section 30;".

26 USC 7652.

26 USC 7653.

(57)

26 USC 7701.

(A) Section 7701(a) (11) (relating to definitions of Secretary) is amended to read as follows: "(11)

Definitions.

i*- ,

AMENDMENTS OF SECTION 7701.—

•

SECRETARY OF THE TREASURY AND SECRETARY.—

" (A) SECRETARY OF THE TREASURY.—The term 'Secretary of the Treasury ' means the Secretary of the Treasury, personally, and shall not include any delegate of his. " (B) SECRETARY.—The term 'Secretary' means the Secretary of the Treasury or his delegate.". (B) Section 7701(a) (12)(A) (relating to definition of Secretary or his delegate) is amended to read as follows: " (A) IN GENERAL.—The term ' o r his delegate'— " (i) when used with reference to the Secretary of the Treasury, means any officer, employee, or agency of the Treasury Department duly authorized by the Secretary

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 PUBLIC LAW 94-455—OCT. 4, 1976

90 STAT. 1833

of the Treasury directly, or indirectly by one or more redelegations of authority, to perform the function mentioned or described in the context; and " ( i i) when used with reference to any other official of the United States, shall be similarly construed." (58) AMENDMENT OF SECTION TSOS.—Section 7803 (relating to 26 USC 7803. other personnel) is amended by redesignating subsection (d) as subsection (c). (59) AMENDMENT OF SECTION 7809.—Section 7809(a) (relating 26 USC 7809. to deposit of collections) is amended by striking out "4735,4762,". (b) CONFORMING AND CLERICAL AMENDMENTS. — (1) AMENDMENT CONFORMING TO THE REPEAL

OF

SECTION

6105.—The table of sections for subchapter B of chapter 61 is amended by striking out the item relating to section 6105. (2) AMENDMENT CONFORMING TO AMENDMENT OF SECTION e m. —

The item relating to section 6111 in the table of sections for subchapter B of chapter 61 is amended to read as follows: "Sec. 6111. Cross reference." (3)

AMENDMENTS

CONFORMING

TO AMENDMENTS

OF SECTION

6154.

.;

(A) Paragraph (1)(B) of section 6655(e) is amended: 26 USC 6655. (i) by a d d i n g " and " a t the end of clause (i), and (ii) by striking out clauses (ii) and (iii) and inserting in lieu thereof the following: " ( i i) i n the case of a taxable year beginning before January 1, 1977, the amount of the corporation's temporary estimated tax exemption for snch year." (B) Paragraph (2)(B) of section 6655(e) is amended by striking out "clauses (ii) and ( i i i) " and inserting in lieu thereof "clause ( i i) ". (C)(i) Section 6655(e) is amended by striking out paragraph (3) and by redesignating paragraph (4) as paragraph (3). (ii) Section 243(b)(3)(C) ( i v), as redesignated by section Ante, T^. 1797. 1901 (b) (20)(A) of this Act, is amended by striking out "sections 6154(c)(2) and (3) " and inserting in lieu thereof "section 6154(c)(2) ", and by striking out "sections 6655(e)(2) and (3) " and inserting in lieu thereof "section 6665(e)(2) ". (4) AMENDMENT CONFORMING TO THE R E P E A L OF SECTION 0 1 6 2. —

The table of sections for subchapter B of chapter 62 is amended by striking out the item relating to section 6162. (5) AMENDMENT CONFORMING TO THE R E P E A L OF S E C T I O N 6 3 O 4. —

The table of sections for subchapter A of chapter 64 is amended by striking out the item relating to section 6304. (6)

AMENDMENTS

CONFORMING

TO THE AMENDMENT

or

SEC-

TION 6416.—

(A) Subparagraph (A) of section 6420(c)(3) is amended 26 USC 6420. to read as follows: " (A) by the owner, tenant, or operator of a farm, in connection with cultivating the soil, or in connection with raising or harvesting any agricultural or horticultural commodity, including the raising, shearing, feeding, caring for, training, and management of livestock, bees, poultry, and fur-bearing animals and wildlife, on a farm of which he is the owner, tenant, or o p e r a to r; except that if such use is by any person

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 90 STAT. 1834

26 USC 4041. 26 USC 6420 note.

PUBLIC LAW 94-455—OCT. 4, 1976 other than the owner, tenant, or operator of such farm, then for purposes of this subparagraph, in applying subsection (a) to this subparagraph, the owner, tenant, or operator of the farm on which gasoline or a liquid taxable under section 4041 issued shall be treated as the user and the ultimate purchaser of such gasoline or liquid;". (B) The amendments made by subparagraph (A) shall apply with respect to the use of liquids after December 3 1, 1970. (7) AMENDMENT CONFORMING TO THE REPEAL o r SECTION 64IT.—

Ante, p. 1827.

The table of sections for subchapter B of chapter 65 is amended by striking out the item relating to section 6417. (8) AMENDMENT CONFORMING TO AMENDMENT OF SECTION 642O.—

26 USC 39.

Section 39(a)(1) is amended by striking out "section 6 4 2 0 (h) " and inserting in lieu thereof "section 6 4 2 0 (g) ". (9) AMENDMENT CONFORMING TO AMENDMENT OF SECTION 6424.—

Ante, p. 1829.

Section 39(a)(3) is amended by striking out "section 6 4 2 4 (g) " and inserting in lieu thereof "section 6424(f)". (10)

AMENDMENT

CONFORMING TO AMENDMENT

or

SECTION

7 448.—The item relating to section 7448 in the table of sections for part I of subchapter C of chapter 76 is amended to read as follows: "Sec. 7448. Annuities of surviving spouses and dependent children.". (11)

AMENDMENT

CONFORMING

TO AMENDMENT

OF SECTION

7 508.—The item relating to section 7508 in the table of sections for chapter 77 is amended to read as follows: "Sec. 7508. Time for performing certain acts postponed by reason of service in combat zone.". (12)

AMENDMENT

CONFORMING

TO AMENDMENT

OF SECTION

7 509.—The item relating to section 7509 in the table of sections for chapter 77 is amended to read as follows: "Sec. 7509. Expenditures incurred by the United States Postal Service.". (13)

Ante, p. 1832. 26 USC 1 et seq.

26 USC 4293, 4483, 5551, 7801, 7802, 9006, 9007. 26 USC 3121, 3303, 3304, 3305, 3306, 9005, 9007, 9010, 9012. 26 USC 31. 26 USC 3304.

AMENDMENT CONFORMING TO REPEAL OF SECTION

T64I.—

The table of subchapters for chapter 78 is amended by striking out the item relating to subchapter C. (A) The I n t e r n a l Revenue Code of 1954, as amended by this Act, is amended by striking out "Secretary or h i s delegate" each place it appears and inserting in lieu thereof "Secretary". (B) The following provisions are each amended by striking out "Secretary" each place it appears and inserting in lieu thereof "Secretary of the Treasury ": sections 4293, 4483 (b), 5551, 7801(b), 7802(a), 9006(a), 9006(b), and 9007(d). (C) The following provisions are each amended by striking out "to the Secretary" each place i t appears and inserting in lieu thereof "to the Secretary of the Treasury ": sections 3121 (b) (12)(B), 3303(b), 3304(a)(3), 3304(c), 3305(j), 3306(c) (12)(B), 9005(a), 9007(b), 9'010(b), and 9012(e)(3). (D) Section 31(b)(1) is amended by striking out " ( o r his delegate)". (E) The last sentence of section 3304(c) is amended by striking out "the Secretary shall" and inserting in lieu thereof " the Secretary of Labor shall".

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 PUBLIC LAW 94-455—OCT. 4, 1976

90 STAT. 1835

(F) Section 3310(d)(2) is amended by striking out "the Secretary's action" each place it appears and inserting in lieu thereof "the Secretary of Labor's action". (G) Section 3221(a) and 3221(c) are each amended by striking out "of the Treasury" each place it appears. (H) Section 3310(e) is amended by striking out "of the Secretary" and inserting in lieu thereof "of the Secretary of Labor". (I) Section 4412(c) is amended by striking out "he or his delegate" and inserting in lieu thereof "the Secretary". (J) Section 5845(f) is amended by striking out "of the Treasury or his delegate". (K) Section 6402(b) is amended by striking out "(or his delegate)". (L) Section 7458 is amended by striking out "nor his delegate". (M) Section 7514 is amended by striking out "functions of the Secretary" and inserting in lieu thereof "functions of the Secretary of the Treasury".

26 USC 3310. 26 USC 3221. 26 USC 3310. 26 USC 4412. 26 USC 5845. 26 USC 6402. 26 USC 7458. 26 USC 7514.

(c) AMENDMENTS TO SECTIONS REFERRING TO TERRITORIES.—

(1) Section 6871(a) is amended by striking out "or Territory". 26 USC 6871. (2) Section 7622(b) is amended by striking out ", Territory,". 26 USC 7622. (3) Section 7701(a)(4) is amended by striking out "or 26 USC 7701. Territory". (d) EFFECTIVE DATE.—

26 USC 6013

(1) GENERAL RULE.—Except as otherwise expressly provided °°^' in this section, the amendments made by this section shall take effect on the first day of the first month which begins more than 90 days after the date of the enactment of this Act. (2) AMENDMENTS RELATING TO INCOME TAX.—The amendments made by this section, when relating to a tax imposed by chapter 26 USC 1, 1401. 1 or chapter 2 of the Internal Revenue Code of 1954, shall take effect with respect to taxable years beginning after December 31, 1976. \ SEC. 1907. AMENDMENTS OF SUBTITLE G; THE JOINT COMMITTEE ON INTERNAL REVENUE TAXATION. \ (a) IN GENERAL.— (1) AMENDMENT or SECTION sooi.—Section 8001 (relating to 26 USC 8001.

creation of the Joint Committee) is amended by striking out "Joint Committee on Internal Revenue Taxation'^ and inserting in lieu thereof "Joint Committee on Taxation". (2) AMENDMENT OF SECTION 8OO4.—Section 8004 (relating to 26 USC 8004. compensation of staff) is amended by striking out "compensation of a clerk" and inserting in lieu thereof "compensation of the Chief of Staff of the Joint Committee". (3) AMENDMENT OF SECTION 8021.—Section 8021(d) (relating 26 USC 8021. to authority to make expenditures) is amended to read as follows: "(d)

To MAKE EXPENDITURES.—The Joint Committee, or

any

subcommittee thereof, is authorized to make such expenditures as it deems advisable.". (4) AMENDMENT OF SECTION 8023.—Section 8023(c) (relating 26 USC 8023. to reorganization plans) is amended to read as follows: "(c) AMPLICATION OF SUBSECTIONS (a) AND (b).—Subsections (a) and (b) shall be applied in accordance with their provisions without regard to any reorganization plan becoming effective on, before, or after the date of the enactment of this subsection.".

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 90 STAT. 1836 26 USC 8001 note.

PUBLIC LAW 94-455—OCT. 4, 1976 (5) All references in any other statute, or in any rule, regulation, or order, to the Joint Committee on Internal Revenue Taxation shall be considered to be made to the Joint Committee on Taxation, (b) AMENDMENTS CONFORMING TO THE AMENDMENT or SECTION 8001.—

(1) The heading of subtitle G is amended by striking out "Internal Revenue". (2) The table of subtitles for the Internal Revenue Code of 1954 is amended by striking out the item relating to subtitle G and inserting in lieu thereof the following: "SUBTITLE G. The Joint Committee on Taxation.".

26 USC 8001 note. 26 USC 1 note.

(c) EFFECTIVE DATE.—The amendments made by this section shall take effect on the first day of the first month which begins more than 90 days after the date of the enactment of this Act. SEC. 1908. EFFECTIVE DATE OF CERTAIN DEFINITIONS AND DESIGNATIONS For purposes of any amendment made by any provision of this Act (other than this title)— (1) which contains a term the meaning of which is defined in or modified by any provision of this title, and (2) which has an effective date earlier than the effective date of the provision of this title defining or modifying such term, that definition or modification shall be considered to take effect as of such earlier effective date.

Subtitle B—Amendments of Code Provisions With Limited Current Application; Repeals and Saving's Provisions SEC. 1951. PROVISIONS OF SUBTITLE A. (a) REFERENCES TO INTERNAL REVENUE CODE.—Except as otherwise

26 USC 1.

expressly provided, whenever in this section a reference is made to a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1954. (b) AMENDMENTS.— (1)

26 USC 72.

26 USC 72 note.

26 USC 108.

AMENDMENT OF S E C T I O N

72.—

(A) REPEAL.—Section 72 (relating to annuities) is amended by striking out subsection (i) (relating to joint and survivor annuities where first annuitant died in 1951, 1952, or 1953). (B) SAVINGS PROVISION.—Notwithstanding subparagraph (A), if the provisions of section 72(i) applied to amounts received in taxable years beginning before January 1, 1977, under an annuity contract, then amounts received under such contract on or after such date shall be treated as if such provisions were not repealed. (2) AMENDMENTS OF SECTION IO8.—

(A) REPEAL.—Section 108 (relating to income from discharge of indebtedness) is amended by striking out subsection (b) (relating to certain railroad corporations) and by striking out of subsection (a) the following: "(a) SPECIAL RULE OP EXCLUSION.—".

.,

,

„

...

,,.-

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 PUBLIC LAW 94-455—OCT. 4, 1976

90 STAT. 1837

(B) SAVINGS PROVISION.—If any discharge, cancellation, 26 USC 108 or modification of indebtedness of a railroad corporation °°*^occurs in a taxable year beginning after December 31, 1976, pursuant to an order of a court in a proceeding referred to in section 108(b)(A) or (B) which commenced before January 1, 1960, then, notwithstanding the amendments made by subparagraph (A), the provisions of subsection (b) of section 108 shall be considered as not repealed with respect to such discharge, cancellation, or modification of indebtedness. (3) AMENDMENTS OF SECTION I 6 4, —

(A) REPEAL.—Section 164 (relating to taxes) is amended 26 USC 164. by striking out subsection (f) (relating to payments for municipal services in atomic energy communities) and by redesignating subsection (g) as subsection (f). (B) SAVINGS PROVISION.—Notwithstanding subparagraph 26 USC 164 (A), any amount paid or accrued in a taxable year beginning note, after December 31, 1976, to the Atomic Energy Commission or its successors for municipal-type services shall be allowed as a deduction under section 164 if such amount would have been deductible by reason of section 164(f) (as in effect for a taxable year ending on December 31, 1976) and if the amount is paid or accrued with respect to real property in a community (within the meaning of section 21 b. of the Atomic Energy Community Act of 1955 (42 U.S.C. 2304 (b))) in which the Commission on December 31, 1976, was rendering municipal-type services for which it received compensation from the owners of property within such community. (4)

R E P E A L OF SECTION 1 6 8. —

(A) REPEAL.—Section 168 (relating to amortization of 26 USC 168. emergency facilities) is repealed. (B) SAVINGS PROVISION.—Notwithstanding the repeal 26 USC 168 made by subparagraph (A), if a certificate was issued before note. January 1, 1960, with respect to an emergency facility which is or has been placed in service before the date of the enactment of this Act, the provisions of section 168 shall not, with respect to such facility, be considered repealed. The benefit ^ of deductions by reason of the preceding sentence shall be allowed to estates and trusts in the same manner as in the case of an individual. The allowable deduction shall be apportioned between the income beneficiaries and the fiduciary in accordance with regulations prescribed under section 642(f). (5) AMENDMENT OF SECTION 1 7 1. —

(A) REPEAL.—

(i) Section 171(b)(1)(B) (relating to amount of 26 USC 171. bond premium) is amended by striking out clause (iii) (relating to certain bonds acquired before 1958). (ii) Section 171(b)(1)(B)(i) is amended by striking out "clause (ii) or (iii) applies," and inserting in lieu thereof "clause (ii) applies, or", and by inserting "and" at the end thereof. (iii) Section 171(b)(l)(B) ( i i) is amended by striking out ", or" and inserting ", and" in lieu thereof. (iv) The second sentence in section 171(b)(2) is amended by striking out "or (iii)".

89-194 O—78—pt. 2

24

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Page:United States Statutes at Large Volume 90 Part 2.djvu/370

 90 STAT. 1838 26 USC 171 note.

•

,»,

PUBLIC LAW 94-455—OCT. 4, 1976 (B) SAVINGS PROVISION.—Notwithstanding the amend^ ments made by subparagraph (A), in the case of a bond the interest on which is not excludable from gross income— (i) which was issued after January 22, 1951, with a call date not more than 3 years after the date of such issue, and (ii) which was acquired by the taxpayer after January 22, 1954, and before.January 1, 1958, the bond premium for a taxable year beginning after December 31, 1975, shall not be determined under section 171(b) (1)(B)(i) but shall be determined with reference to the amount payable on maturity, and if the bond is called before its maturity, the bond premium for the year in which the bond is called shall be determined in accordance with the provisions of section 171(b)(2). (6) AMENDMENT o r SECTION 333.—

26 USC 333.

26 USC 333 aote.

26 USC 333

note.

26 USC 453.

26 USC 453 note.

53 Stat. 24.

(A) REPEAL.—Section 333 (relating to election as to recognition of gain in certain liquidations) is amended by striking out subsection (g) (relating to the liquidation of certain personal holding companies). (B) SAVINGS PROVISION.—Notwithstanding subparagraph (A), if any corporation meets all the requirements of section 333(g)(2)(B), as in effect before its repeal by this Act, the liquidation of such corporation shall be treated as if paragraphs (2), (3), and (4) of section 333(g) had not been repealed. (C)

PHASE-IN

OF 12-MONTH HOLDING PERIOD REQUIRE-

MENT.—For purposes of subparagraph (B), the period for holding of stock specified in section 333(g)(2)(A) (ii), as in effect before such repeal, shall— (i) in the case of taxable years beginning in 1977, be considered to be "9 months"; and (ii) in the case of taxable years beginning after December 31, 1977, be considered to be "1 year". (7) AMENDMENT or SECTION 453.— (A) REPEAL.—Section 453(b)(2) (relating to limitation on use of installment sales method) is amended to read as follows: "(2) LIMITATION.—Paragraph (1) shall apply only if in the taxable year of the sale or other disposition— "(A) there are no payments, or "(B) the payments (exclusive of evidences of indebtedness of the purchaser) do not exceed 30 percent of the selling price.". (B) SAVINGS PROVISION.—Notwithstanding subparagraph (A), in the case of installment payments received during taxable years beginning after December 31, 1976, on account of a sale or other disposition made during a taxable year beginning before January 1, 1954, subsection (b)(1) of section 453 (relating to sales of realty and casual sales of personalty) shall apply only if the income was (by reason of section 44(b) of the Internal Revenue Code of 1939) returnable on the basis and in the manner prescribed in section 44(a) of such Code.

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 PUBLIC LAW 94-455—OCT. 4, 1976 (8)

90 STAT. 1839

A M B N II M E N T S OF S E C T I O N 512.

(A) EEPEAL.—Section 512(b) (relating to unrelated business taxable income) is amended by striking out paragraphs (13) and (14) and by redesignating paragraphs (15), (16), and (17) as paragraphs (13), (14), and (15), respectively. (B) SAVINGS PROVISION.—Notwithstanding subparagraph (A), income received in a taxable year beginning after December 31, 1975, shall be excluded from gross income in determining unrelated business taxable income, if such income would have been excluded by paragraph (13) or (14) of section 512(b) if received in a taxable year beginning before such date. Any deductions directly connected with income excluded under the preceding sentence in determining unrelated business taxable income shall also be excluded for such purpose. (9) AMENDMENT OF SECTION 545.— (A) REPEAL.—Section 545(b) (relating to adjustments in computing undistributed personal holding company income) is amended by striking out paragraph (9) (relating to deductions on account of certain liens in favor of the United States). (B) SAVINGS PROVISION.—Notwithstanding subparagraph (A), if any amount was deducted under paragraph (9) of section 545(b) in a taxable year beginning before January 1, 1977, on account of a lien which is satisfied or released m a taxaole year beginning on or after such date, the amount so deducted shall be included in income, for purposes of section 545, as provided in the second sentence of such paragraph. Shareholders of any corporation which has amounts included in its income by reason of the preceding sentence may elect to compute the income tax on dividends attributable to amounts so included as provided in the third sentence of such paragraph.

26 USC 512.

26 USC 512 note.

26 USC 545.

26 USC 545 note,

(10) AMENDMENTS or SECTION 691.—

(A) REPEAL.—Section 691 (relating to income in respect of decedents) is amended by striking out subsection (e) (relating to certain installment obligations transmitted at death) and by redesignating subsection (f) as subsection (e). (B) SAVINGS PROVISION.—Notwithstanding subparagraph (A), any election made under section 691(e) to have subsection (a)(4) of such section apply in the case of an installment obligation shall continue to be effective with respect to taxable years beginning after December 31, 1976. Section 691(c) shall not apply in respect of any amount included in gross income by reason of the preceding sentence. The liability under bond filed under section 44(d) of the Internal Revenue Code of 1939 (or corresponding provisions of prior law) in respect of which such an election applies is hereby released with respect to taxable years to which such elex^tion applies.

26 USC 691.

26 USC 691 note.

53 Stat. 24.

(11) AMENDMENTS or SECTION 817.—

(A) REPEAL.—Section 817 is amended by striking out 26 USC 817. subsection (d) (relating to certain gains occurring Itefore 1959). (B) SAVINGS PROVISION.—Notwithstanding subparagraph 26 USC 817 (A), any gain in a taxable year beginning after Decern- note. ber 31, 1976, from any sale or other disposition of property prior to January 1, 1959, would be excluded or not taken into

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Page:United States Statutes at Large Volume 90 Part 2.djvu/372

 PUBLIC LAW 94-455—OCT. 4, 1976

9 0 STAT. 1840

Ante, p. 1839.

account for purposes of part 1 of subchapter L of chapter 1 if subsection (d) of section 817 of such Code were still in effect for such taxable year, such gain shall be excluded for purposes of such part. (12) R E P E A L or SECTION 1347.—

26 USC 1347.

(A) REPEAL.—Section 1347 (relating to certain claims filed against the United States before January 1, 1958) is repealed.

26 USC 1347 note.

(B) SAVINGS PROVISION.—Notwithstanding subparagraph

(A), if amounts received in a taxable;^ear oeginning after December 31, 1976, would have been subject to the provisions of section 1347 if received in a taxable year beginning before such date, the tax imposed by section 1 attributable to such receipt shall be computed as if section 1347 h a d not been repealed. (13)

26 USC 1471. 26 USC 1471 note.

(A) REPEAL.—Subchapter A of chapter 4 (relating to recovery of excessive profits on certain Government contracts) is repealed. (B) SAVINGS PROVISION.—If the amount of profit required to be p a i d into the Treasury under section 2382 or 7300 of title 10, United States Code, is not voluntarily paid, the Secretary of the Treasury or his delegate shall collect the same under the methods employed to collect taxes under subtitle A. All provisions of law (including penalties) applicable with respect to such taxes and not inconsistent with section 2382 or 7300 of title 10 of such Code, shall apply with respect to the assessment, collection, or payment of excess profits to the Treasury as provided in the preceding sentence, and to refunds by the Treasury of overpayments of excess profits into the Treasury. (14)

26 USC 1481.

26 USC 1481 note. 53 Stat. 1.

REPEAL or SECTION 1471.—

AMENDMENT o r SECTION I 4 8 I. —

(A) REPEAL.—Section 1481 (relating to mitigation of effect of renegotiation of Government contracts) is amended by striking out subsection (d) (relating to renegotiation for years prior to 1954). (B) SAVINGS PROVISION.—If, during a taxable year beginn i n g after December 31, 1976, a recovery of excessive profits through renegotiation which relates to profits of a taxable year subject to the I n t e r n a l Revenue Code of 1939, the adjustments in respect to such renegotiation shall be made under section 3806 of such Code. (c) CONFORMING AND CLERICAL AMENDMENTS. — (1) AMENDMENT CONFORMING TO THE AMENDMENT OF SECTION

26 USC 1017.

108.—Section 1017 is amended by striking out "section 1 0 8 (a) " each time it appears therein and inserting m lieu thereof "section 108". (2) AMENDMENTS CONFORMING TO REPEAL OF SECTION 1 6 §. —

26 USC 1238. Ante, p. 1520. 26 USC 642, 1082. Ante, p. 1837. 26 USC 1245, 1250.

(A) Section 1238 is amended by striking out " ( r e l a t i n g to amortization deduction of emergency facilities)" and inserting in lieu thereof " ( a s in effect before its repeal by the T a x Reform Act of 1976)". (B) Sections 642(f) and 1082(a)(2)(B) are each amended by striking out "168,". (C) Sections 1245(a)(2) and 1250(b)(3) are each amended by striking out "168," each place i t appears and inserting in lieu thereof "168 (as in effect before its repeal by the T a x Reform Act of 1976),".

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Page:United States Statutes at Large Volume 90 Part 2.djvu/373

 PUBLIC LAW 94-455—OCT. 4, 1976 (D) The table of sections for part VI of subchapter B of chapter 1 is amended by striking out the item relating to section 168.

90 STAT. 1841

Ante, p. 1837.

(3) AMENDMENTS COXFORMIXG TO THE REPEAL o r SECTION 1347.—

(A) Section 5(b) is amended by striking out paragraph 26 USC 5. (5) and by redesignating paragraphs (2), (3), and (4), as paragraphs (1), (2), and (3), respectively. (B) The table of sections for part VI of subchapter Q of chapter 1 is amended by striking out the item relating to section 1347. Ante, p. 1840. (C) The heading of part VI of subchapter Q of chapter 1 is amended to read as follows: "PART VI—MAXIMUM RATE ON PERSONAL SERVICE INCOME.'* (D) The table of parts for subchapter Q of chapter 1 is amended by striking out the item relating to part VI and inserting in lieu thereof the following: "Part VI. Maximum rate on personal service Income." (4) AMENDMENT CONFORMING TO THE REPEAL OF SECTION 1 4 7 1. —

The table of subchapters for chapter 4 is amended by striking out the item relating to subchapter A. (d) EFFECTIVE DATE.—Except as otherwise expressly provided, the 26 USC 72 note.

amendments made by this section shall apply with respect to taxable years beginning after December 31, 1976. United States Cotton Futures (a) SHORT TITLE.—This section may be cited as the "United States Act. 7 USC 15b. Cotton Futures Act". (b) REPEAL OF TAX ON COTTON FUTURES.—Subchapter D of chapter 39 (relating to tax on cotton futures) is repealed. 26 USC 4851. SEC. 1952. PROVISIONS OF SUBCHAPTER D OF CHAPTER 39; COTTON FUTURES.

(c) DEFINITIONS.—For purposes of this section— (1) COTTON FUTURES CONTRACT.—The term "cotton futures contract" means any contract of sale of cotton for future delivery made at, on, or in any exchange, board of trade, or similar institution or place of business which has been designated a "contract market" by the Commodity Futures Trading Commission pursuant to the Commodity Exchange Act and the term "contract of 7 USC 1. sale" as so used shall be held to include sales, agreements of sale, and agreements to sell. (2) FUTURE DELIVERY.—The term "future delivery" shall not include any cash sale of cotton for deferred shipment or deliy^e^l (3) PERSON.—The term "person" includes an individual, tnilfc, estate, partnership, association, company, or corporation. (4) SECRETARY.—The term "Secretary" means tM '§Ui9§ of Agriculture of the United States. (5) STANDARDS.—The term "standards"meansthe officiaLlcbHon standards of the United States established tfy the Secretary pursuant to the United States Cotton Standards Act, as atneiided. (d) BONA FIDE SPOT MARKETS AND 06|itefcitciAL DIFFERENCES.—

(1) DEFINITION.—For purposes of thi^geCtionj the 6riij^ markets which shall be considered bon^'flde'^^t Markets shall be those which the Secretary shall, ffdm time to flme,'.&Mr ih^fetigati determine and designate t^ be SuCh, ahd'bf wHifeRHe '^hall give public notice.

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Page:United States Statutes at Large Volume 90 Part 2.djvu/374

 90 STAT. 1842 Rules and regulations.

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PUBLIC LAW 94-455—OCT. 4, 1976 (2) DETERMINATION.—In determining, pursuant to the provisions of this section, what markets are bona fide spot markets, the Secretary is directed to consider only markets in which spot cotton is sold in such volume and under such conditions as customarily to reflect accurately the value of middling cotton and the differences between the prices or values of middling cotton and of other grades of cotton for which standards shall have been established by the Secretary; except that if there are not sufficient places, in the markets of which are made bona fide sales of spot cotton of grades for which standards are established by the Secretary, to enable him to designate at least five spot markets in accordancia with subsection (f)(3), he shall, from data as to spot sales collected by him, make rules and regulations for determining the actual commercial differences in the value of spot cotton of the grades established by him as reflected by bona fide sales of spot cotton, of the same or different grades, in the market selected and designated by him, from time to time, for that purpose, and in that event differences in value of cotton of various grades involved in contracts made pursuant to subsection (f)(1) and (2) shall be determined in compliance with such rules and regulations. I t shall be the duty of any person engaged in the business of dealing in cotton, when requested by the Secretary or any agent acting under his instructions, to answer correctly to the best of his knowledge, under oath or otherwise, all questions touching his knowledge of the number of bales, the classification, the price or bona fide price offered, and other terms of purchase or sale, of any cotton involved in any transaction participated in by him, or to produce all books, letters, papers, or documents in his possession or under his control relating to such matter. (3) WITHHOLDING INFORMATION.—Any person engaged in the

business of dealing in cotton who shall, within a reasonable time prescribed by the Secretary or any agent acting under his instructions, willfully fail or refuse to answer questions or to produce books, letters, papers, or documents, as required under paragraph (2) of this subsection, or who shall willfully give any answer that is false or misleading, shall, upon conviction thereof, be fined not more than $500. (e) FORM AND VALIDITY OF COTTON FUTURES CONTRACTS.—Each

^

cotton futures contract shall be a basis grade contract, or a tendered grade contract, or a specific grade contract as specified in subsections (f), (g), or (h) and shall be in writing plainly stating, or evidenced ^^ written memorandum showing, the terms of such contract, including^.the quantity of the cotton involved and the names and addresses (MTmejSeller and buyer in such contract, and shall be signed by the parry to ^ charged, or by his agent in his behalf. No cotton futures contract*j3v|jpji does not conform to such requirements shall be enforceabfe by^ Dr on behalf of, any party to such contract or his privies.

noffiD?4Bffii|Mii£?^'Tr-' grade cotton futures contract shall ,.^ Each basis )^fe® following conditions: ORMiW, WITH REGULATIONS.—Conform to the -.asrovrajia f P. # # f ^ i f i M i f i W a a i ^ t to this section. 8ie'JiBm ,noiiBsiil^'§??^fI^#I^W grade for the cotton involved 9Yi§ l f B d?? 9 f t a o W W b ^ i i i * r # | ¥ # of the grades for which "^ standards are established by the Secretary, except grades prohibited from being delivered on a contract made under this

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