Page:United States Statutes at Large Volume 100 Part 3.djvu/957

 PUBLIC LAW 99-514—OCT. 22, 1986

100 STAT. 2765

"(ii) whether, on the basis of criteria prescribed by the Secretary, the purchase of such property by the United States at such minimum price would be in the best interest of the United States. "(B)

SALE TO HIGHEST BIDDER AT OR ABOVE MINIMUM

PRICE.—If, at the sale, one or more persons offer to purchase such property for not less than the amount of the minimum price, the property shall be declared sold to the highest bidder. "(C) PROPERTY DEEMED SOLD TO UNITED STATES AT MINIMUM PRICE IN CERTAIN CASES.—If no person offers the

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amount of the minimum price for such property at the sale and the Secretary has determined that the purchase of such property by the United States would be in the best interest of the United States, the property shall be declared to be sold to the United States at such minimum price. "(D) RELEASE TO OWNER IN OTHER CASES.—If, at the sale, the property is not declared sold under subparagraph (B) or (C), the property shall be released to the owner thereof and J, I J the expense of the levy and sale shall be added to the amount of tax for the collection of which the levy was made. Any property released under this subparagraph shall 5; remain subject to any lien imposed by subchapter C." (b) EFFECTIVE DATE.—The amendment made by subsection (a) shall apply to— (1) property seized after the date of the enactment of this Act, and J (2) property seized on or before such date which is held by the I United States on such date. SEC. 1571. MODIFICATION OF TIPS ALLOCATION METHOD.

Effective for any payroll period beginning after December 31, 1986, an establishment may utilize the optional method of tips allocation described in the last sentence of section 31.6053-3(fKlXiv) of the Internal Revenue Regulations only if such establishment employs less than the equivalent of 25 full-time employees during such payroll period. SEC. 1572. TREATMENT OF FORFEITURES OF LAND SALES CONTRACTS FOR PURPOSES OF DISCHARGE OF LIENS.

(a) AMENDMENT OF SECTION 7425(c).—Subsection (c) of section 7425 (relating to special rules for discharge of liens) is amended by adding at the end thereof the following new paragraph: "(4) FORFEITURES OF LAND SALES CONTRACTS.—For purposes of

subsection (b), a sale of property includes any forfeiture of a land sales contract." (b) EFFECTIVE DATE.—The amendment made by subsection (a) shall apply to forfeitures after the 30th day after the date of the enactment of this Act.

Subtitle H—Miscellaneous Provisions SEC. 1581. WITHHOLDING SCHEDULES.

ALLOWANCES

TO

REFLECT

NEW

RATE

(a) IN GENERAL.—The Secretary of the Treasury or his delegate shall modify the withholding schedules and withholding exemption

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