Page:United States Statutes at Large Volume 102 Part 4.djvu/481

 PUBLIC LAW 100-647—NOV. 10, 1988

102 STAT. 3451

(B) by striking out "28 percent" and inserting in lieu thereof "31.6 percent", and (C) by adding at the end thereof the following new sentence: The preceding sentence shall apply only if the tax determined under the preceding sentence is less than the tax which would otherwise be imposed." (3) Paragraph (2) of section 1011(d) of the Reform Act is 26 USC 801 amended to read as follows: ^°^"(2) QUALIFIED LIFE INSURANCE COMPANY.—For purposes of paragraph (1), the term 'qualified life insurance company' means any life insurance company subject to tax under part I of subchapter L of chapter 1 of the Internal Revenue Code of 1986." 0)) AMENDMENTS RELATED TO SECTION 1012 OF THE REFORM ACT.—

(1) Qause (iv) of section 1012(c)(4)(C) of the Reform Act is amended to read as follows: "(iv) dental benefit coverage provided by a Delta Dental Plans Association organization through contracts with independent professional service providers so long as the provision of such coverage is the principal £^tivity of such organization." (2) a a u s e (ii) of section 1012(c)(4)(C) of the Reform Act is amended by striking out "Association" and inserting in lieu thereof "Plan". (3) The Secretary of the Treasury or his del^ate may prescribe rules providing proper adjustments for taxpayers which become subject to subchapter L of chapter 1 of the 1986 (Dode by reason of the amendments made by section 1012 of the Reform Act with respect to short taxable years which b^;in during 1987 by reason of section 843 of such C^ode. (4)(A) Paragraph (3) of section 501(m) of the 1986 Code is amended by striking out "and" at the end of subparagraph (C), by striking out the period at the end of subparagraph (D) and inserting in lieu thereof ", and", and by adding at the end thereof the following new subparagraph: "(E) charitable gift annuities." (B) Subsection (m) of section 501 of the 1986 Code is amended by adding at the end thereof the following new paragraph: "(5) CHARITABLE GIFT ANNUITY.—For purposes of paragraph (3)(E), the term 'charitable gift annuity* means an annuity if— "(A) a portion of the amount paid in connection with the issuance of the annuity is allowable as a deduction under section 170 or 2055, and "(B) the annuity is described in section 514(c)(5) (determined as if any amount paid in cash in connection with such issuance were property)." (c) AMENDMENTS RELATED TO SECTION 1021 OF THE REFORM ACT.— (I)(A) Subparagraph (C) of section 832ft)X7) of the 1986 Code (relating to special rules for determining premiums earned) is amended by striking out "this part" and inserting in lieu thereof "section 831(a)". OB) The subparagraph heading for such subparagraph is amended by striking out "NONLIFE INSURANCE COMPANY and inserting in lieu thereof "INSURANCE COMPANY TAXABLE UNDER SECTION 831 (a)".

(2) Paragraph (7) of section 8320)) of the 1986 Code is amended by adding at the end thereof the following new subparagraphs:

19-194 O—91—Part 4

16: QL 3

26 USC 833 note. Health care professionals.

26 USC 833 note.

insurance.

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