Page:United States Statutes at Large Volume 100 Part 3.djvu/581

 PUBLIC LAW 99-514—OCT. 22, 1986

100 STAT. 2389

(1) Sections 453B(e)(2)(B) and 465(c)(7)(D)(v) are each amended by striking out "section 806(c)(3)" and inserting in lieu thereof "section 806a)X3)". (2) Section 804 is amended by adding "and" at the end of paragraph (1) and by striking out paragraphs (2) and (3) and inserting in lieu thereof the following: "(2) the small life insurance company deduction (if any) determined under section 806(a)." (3) Subparagraph (C) of section 801(a)(2) is amended— (A) by striking out "the amounts allowable as deductions under paragraphs (2) and (3)" and inserting in lieu thereof "the amount allowable as a deduction under paragraph (2)", and (B) by striking out "SPECIAL U F E INSURANCE COMPANY DEDUCTION AND" in the heading. (4) Clause (i) of section 805(a)(4)(B) and clause (iii) of section 80503X3XA) are each amended by striking out "the special life insurance company deduction and". (5) Paragraph (1) of section 806(b), as redesignated by subsection (a), is amended by striking out "without regard to—" and all that follows and inserting in lieu thereof "without regard to the small life insurance company deduction." (6) Paragraph (1) of section 806(c), as redesignated by subsection (a), is amended— (A) by striking out "subsections (a) and (b)" and inserting in lieu thereof "subsection (a)", (B) by striking out "any special life insurance company deduction and", and (C) by striking out "SPECIAL LIFE INSURANCE COMPANY DEDUCTION AND SMALL" in the heading and inserting in lieu thereof "SMALL". (7) Paragraph (2) of section 806(c), as redesignated by subsection (a), is amended by striking out "subsection (b)(3)" and inserting in lieu thereof "subsection (a)(3)". (8) Subsection (c) of section 806, as redesignated by subsection (a), is amended by striking out paragraph (4) and by redesignating paragraph (5) as paragraph (4). (9) Subparagraph (A) of section 813(a)(4) is amended by striking out "section 806(b)(3)(C)" and inserting in lieu thereof "section 806(a)(3)(C)". (10) Clause (ii) of section 815(c)(2)(A) is amended by striking out "special deductions" and inserting in lieu thereof "small life insurance company deduction." (IIXA) The section heading of section 806 is amended by striking out "SPECIAL DEDUCTIONS" and inserting in lieu thereof "SMALL LIFE INSURANCE COMPANY DEDUCTION".

(B) The table of sections for subpart C of part I of subchapter L of chapter 1 is amended by striking out "Special deductions" in the item relating to section 806 and inserting in lieu thereof "Small life insurance company deduction". (c) EFFECTIVE DATE.—

(1) IN GENERAL.—The amendments made by this section shall apply to taxable years beginning after December 31, 1986. (2) SPECIAL RULE.—Section 217(k) of the Tax Reform Act of 1984 is amended—

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