Page:United States Statutes at Large Volume 102 Part 4.djvu/607

 PUBLIC LAW 100-647—NOV. 10, 1988

102 STAT. 3577

(11) Paragraph (6) of section 6511(i) of the 1986 Code is amended by strikii^ out "section 6421(c)" and inserting in lieu thereof "section 6421(d)". (12) Subparagraph (G) of section 1703(e)(2) of the Reform Act 100 Stat. 2774. is amended by striking out all that follows "are amended" and inserting in lieu thereof "by striking out '6427(i)(2)' and inserting in lieu thereof '6427(j)(2)'." (13) Paragraph (2) of section 1703(f) of the Reform Act is 26 USC 4081 amended by adding at the end thereof the following new sen- ^o*®tence: "All other provisions of law, including penalties, applicable with respect to the taxes imposed by section 4081 of the Internal Revenue Code of 1986 shall apply to the floor stocks taxes imposed by this section." (14) Paragraph (1) of section 4081(c) of the 1986 Code, as amended by section 1703 of the Reform Act, is amended by strikii^ out "3 cents" and inserting in lieu thereof "SVa cents". (15) Subsection (d) of section 6421 of the 1986 dkxle is amended by adding at the end thereof the following new paragraph: "(3) APPLICATION TO SALES UNDER SUBSECTION (C).—For pur-

Petroleum and

poses of this subsection, gasoline shall be treated as used for a petroleum purpose referred to in subsection (c) when it is sold for such a Products. purpose." (16) Section 4222(d) of the 1986 Code is amended by striking out "4083" and inserting in lieu thereof "4101". SEC. 1018. AMENDMENTS RELATED TO TITLE XVIII OF THE REFORM ACT. (a) AMENDMENT RELATED TO SECTION 1801 OF THE REFORM ACT.—

Clause (iii) of section 1801(a)(2)(A) of the Reform Act is amended to 26 USC 168 note. read as follows: "(iii) a person became a partner in such partnership (or a beneficiary in such trust) after its formation but before September 26, 1985,". (b) AMEND&HENTS RELATED TO SECTION 1802 OF THE REFORM ACT.—

(1) The last sentence of section 31(g)(17XL) of the Tax Reform Act of 1984, as added by section 1802(a)(10XG) of the Reform Act, 26 USC 168 note. is amended— (A) by striking out "Registry of Deeds" each place it appears and inserting in lieu thereof "Roister of Deed", and (B) by strikii^ out "May 7, 1985" and inserting in lieu thereof "May 7, 1984". (2) Subparagraph (E) of section 168(j)(9) of the 1986 Code (as amended by section 1802(a)(2) of the Reform Act and as in effect before the amendments made by section 201 of the Reform Act) is amended— (A) by striking out "this paragraph" in clauses (i) and (iiXD and inserting in lieu thereof "this paragraph and paragraph (8)", and (B) by striking out clause (iii) and inserting in lieu thereof the following: "(iii) TAX-EXEMPT CONTROLLED ENTmr.—

"(I) IN GENERAL.—The term 'tax-exempt controlled entity' means any corporation (which is not a tax-exempt entity determined without regard to this subparagraph and paragraph (4)CE)) if 50 percent or more (in value) of the stock in such corpora-

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