Page:United States Statutes at Large Volume 102 Part 4.djvu/389

 PUBLIC LAW 100-647—NOV. 10, 1988

102 STAT. 3359

be reduced by the aggregate deduction under section 179 (as in effect on the day before the date of the enactment of the Tax Reform Act of 1986) for section 179 property placed in service during such taxable year and before January 1, 1987, "(ii) the limitation of section 179(b)(2) of such Code (as so amended) shall be applied by taking into account the cost of all section 179 property placed in service during such taxable year, and "(iii) the limitation of section 179(b)(3) of such Code shall be applied by taking into account the taxable income for the entire taxable year reduced by the amount of any deduction under section 179 of such Code for property placed in service during such taxable year and before January 1, 1987." (d) AMENDMENTS RELATED TO SECTION 204 OF THE REFORM ACT.—

(1) Subparagraph (B) of section 204(a)(1) of the Reform Act is 26 USC 168 note. amended by striking out "and" at the end of clause (ii), by striking out the period at the end of clause (iii) and inserting in lieu thereof ", and", and by inserting after clause (iii) the following new clause: "(iv) described in subparagraph (F) or (H)." (2) Subparagraph (C) of section 204(a)(1) of the Reform Act is amended by striking out the last sentence and inserting in lieu thereof the following: "For purposes of this subparagraph, section 203(b)(2) shall be applied by substituting 'January 1, 1994' for 'January 1, 1991 each place it appears." (3) Subparagraph (E) of section 204(a)(l) of the Reform Act is amended by striking out the last sentence and inserting in lieu thereof the following: "For purposes of this subparagraph, section 203(b)(2) shall be applied by substituting 'January 1, 1998' for 'January 1, 1991' each place it appears." (4) Subparagraph (F) of section 204(a)(1) of the Reform Act is amended— (A) by striking out "paragraph" and inserting in lieu thereof "subparagraph", (B) by striking out ", or" at the end of clause (iii) and inserting in lieu thereof a period, and (C) by striking out so much of clause (iv) as precedes subclause (I) thereof and inserting in lieu thereof the following: "A project is also described in this subparagraph if it is a mixed-use development which is—". (5) The last sentence of section 204(a)(1)(F) of the Reform Act is amended— (A) by striking out "subsection (b)(2)" and inserting in lieu thereof "section 203(b)(2)", and (B) by striking out "1993" and inserting in lieu thereof "1998". (6) Subparagraph (H) of section 204(a)(l) of the Reform Act is amended by striking out "July 1, 1986" and inserting in lieu thereof "June 30, 1986". (7)(A) Paragraph (4) of section 204(a) of the Reform Act is amended to read as follows: "(4) PROPERTY TREATED UNDER PRIOR TAX ACTS.—The amendments made by section 201 shall not apply—

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