Page:United States Statutes at Large Volume 102 Part 4.djvu/624

 102 STAT. 3594

PUBLIC LAW 100-647—NOV. 10, 1988 (2) Subparagraph (A) of section 4662(b)(10) of the 1986 Code is amended by striking out "a mixture of' and inserting in lieu thereof "one or more". (b) AMENDMENTS RELATED TO SECTION 515 OF THE ACT.—

Imports. Exports.

(1) Subparagraph (B) of section 4672(a)(2) of the 1986 Code is amended by inserting "(or more than 50 percent of the value)" after "more than 50 percent of the weight. (2) Paragraph (2) of section 4672(a) of the 1986 Code is amended by adding at the end thereof the following new sentence: "If an importer or exporter of any substance requests that the Secretary determine whether such substance be listed as a taxable substance under paragraph (1) or be removed from such listing, the Secretary shall make such determination within 180 days after the date the request was filed." (3) Paragraph (4) of section 4672(a) of such (Dode is amended to read as follows: "(4) MODIFICATIONS TO LIST.—The Secretary shall add to the

list under paragraph (3) substances which meet either the weight or value tests of paragraph (2)(B) and may remove from such list only sutetances which meet neither of such tests." (c) AMENDBCENTS RELATED TO SECTION 516 OF THE ACT.—

(1) Section 59A of the 1986 Code (relating to environmental tax) is amended by redesignating subsections (c) and (d) as subsections (d) and (e), respectively, and by inserting after subsection (b) the following new subsection: "(c) EXCEPTION FOR RIC'S AND REIT'S.—The tax

imposed by

subsection (a) shall not apply to— "(1) a r^ulated investment company to which part I of subchapter M applies, and "(2) a real estate investment trust to which part II of subchapter M applies." (2) Paragraph (1) of section 882(a) of the 1986 Code is amended by inserting '^9A," after "55,". (3)(A) Subparagraph (B) of section 56(f)(2) of the 1986 Code is amended by ad<£ng at the end thereof the following new sentence: "No adjustment shall be made under this subparagraph for the tax imposed by section 59A." (B) Paragraph (2) of section 59A0t>) of the 1986 Code is amended by inserting "(and the last sentence of section 56(f)(2)(B))" before the period at the end thereof. (d) AMENDBfENTS RELATED TO SECTION 5 2 1 OF THE ACT.—

26 USC 4041 note.

(I)(A) The amendments made by subsections (b)(3) and (d)(17) of section 10502 of the Revenue Act of 1987 shall be treated as if included in the amendments made by section 521 of the Superfimd Revenue Act of 1986 except that the last sentence of paragraphs (2) and (3) of section 4041(d) of the Internal Revenue Code of 1986 (as amended by such subsection (b)(3)) and the reference to section 4091 of such C]k)de in section 9508(c)(2)(A) of such Code (as amended by such subsection (d)(D) shall not apply to sales before April 1, 1988. (B) Paragraph (2) of section 6416(b) of the 1986 Code is amended by striking out "(or under paragraph (I)(A) or (2)(A) of section 4041(a) or under paragraph (I)(A) or (2)(A) of section 4041(d) or under section 4051)" and inserting in lieu thereof "(or under subsection (a) or (d) of section 4041 in respect of sales or under section 4051)".

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