Page:United States Statutes at Large Volume 100 Part 3.djvu/278

 100 STAT. 2086

PUBLIC LAW 99-514—OCT. 22, 1986

Subtitle C—General Business Credit Reduction r^ Sec. 221. Reduction in tax liability which may be offset by business credit from 85 percent to 75 percent.


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Subtitle D—Research and Development Provisions Sec. 231. Amendments relating to credit for increasing research activities. Sec. 232. Extension of credit for clinical testing expenses for certain drugs. Subtitle E—Changes in Certain Amortization Provisions

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Sec. Sec. Sec. Sec.

241. 242. 243. 244.

Repeal of 5-year amortization of trademark and trade name expenditures. Repeal of amortization of railroad grading and tunnel bores. Deduction for bus and freight forwarder operating authority. Treatment of expenditures for removal of architectural barriers to the handicapped and elderly made permanent.

Subtitle F—Provisions Relating to Real Estate Sec. 251. Modification of investment tax credit for rehabilitation expenditures. Sec. 252. Low-income housing credit. Subtitle G—Merchant Marine Capital Construction Funds Sec. 261. Provisions relating to merchant marine capital construction funds. TITLE III—CAPITAL GAINS



Subtitle A—Individual Capital Gains Sec. 301. Repeal of exclusion for long-term capital gains of individuals. Sec. 302. 28-percent capital gains rate for taxpayers other than corporations. Subtitle B—Repeal of Corporate Capital Gains Treatment

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Sec. 311. Repeal of corporate capital gains treatment. Subtitle C—Incentive Stock Options Sec. 321. Repeal of requirement that incentive stock options are exercisable only in chronological order; modification of $100,000 limitation. Subtitle D—Straddles Sec. 331. Year-end rule expanded. TITLE IV—AGRICULTURE. ENERGY, AND NATURAL RESOURCES Sec. 401. Sec. 402. Sec. 403. Sec. 404. Sec. 405.

Subtitle A—Agriculture Limitation on expensing of soil and water conservation expenditures. Repeal of special treatment for expenditures for clearing land. Treatment of dispositions of converted wetlands or highly erodible croplands. Limitation on certain prepaid farming expenses. Tax treatment of discharge of certain indebtedness of solvent farmers.

Subtitle B—Treatment of Oil, Gas, Geothermal, and Hard Minerals Sec. 411. Treatment of intangible drilling costs and mineral exploration and development costs. Sec. 412. Modification of percentage depletion rules. Sec. 413. Gain from disposition of interests in oil, gas, geothermal, or other mineral properties. Subtitle C—Other Provisions • '^'', Sec. 421. Extension of energy investment credit for solar, geothermal, ocean thermal, and biomass property. Sec. 422. Provisions relating to excise tax on fuels. Sec. 423. Ethyl alcohol and mixtures thereof for fuel use. ^j,.,4-, , ^ «

TITLE V—TAX SHELTER LIMITATIONS; INTEREST LIMITATIONS

Subtitle A—Limitations on Tax Shelters Sec. 501. Limitations on losses and credits from passive activities. Sec. 502. Transitional rule for low-income housing. Sec. 503. Extension of at risk limitations to real property.



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