Page:United States Statutes at Large Volume 102 Part 4.djvu/642

 102 STAT. 3612

PUBLIC LAW 100-647—NOV. 10, 1988 such other employer) which maintained the plan in existence before the spin-off. "(iv) TERMINATED PLANS.—A plan is described in this clause if, pursuant to the transaction involving the spin-off, the plan is terminated. "(v) CONTROLLED GROUP.—For purposes of this subparagraph, the term 'controlled group' means any group treated as a single employer under subsection (b), (c), (m), or (o). "(E)

PARAGRAPH

NOT

TO

APPLY

TO MULTIEMPLOYER

PLANS.—This paragraph does not apply to any multiemployer plan with respect to any spin-off to the extent that participants either before or after the spin-off are covered under a multiemployer plan to which title IV of the Employee Retirement Income Security Act of 1974 applies. "(F)

APPLICATION TO SIMILAR TRANSACTION.—Except

as

provided by the Secretary, rules similar to the rules of this paragraph shall apply to transactions similar to spin-offs." (2) Section 414(1) of the 1986 Code is amended by striking out the heading and inserting in lieu thereof: "(1) MERGER AND CONSOUDATIONS OF PLANS OR TRANSFERS OF PLAN ASSETS.— "(1) IN GENERAL.—".

26 USC 414 note.

(3)(A) Except as provided in subparagraph (B), the amendments made by this subsection shall apply with respect to transactions occurring after July 26, 1988. (B) The amendments made by this subsection shall not apply to any transaction occurring after July 26, 1988, if on or before such date the board of directors of the employer, approves such transaction or the employer took similar binding action, (d) OTHER PROVISIONS.—

(1) Subparagraph (C) of section 412(1)(3) of the 1986 Code is amended— (A) by striking out "October 17, 1987" in clause (i) and inserting in lieu thereof "October 29, 1987", and (B) by striking out "October 16, 1987" in clause (iii) and inserting in lieu thereof "October 28, 1987". (2) Subparagraph (B) of section 302(d)(3) of the Employee 29 USC 1082. Retirement Income Security Act of 1974 is amended— (A) by striking out 'October 17, 1987" in clause (i) and inserting in lieu thereof "October 29, 1987", and (B) by striking out "October 16, 1987" in clause (iii) and inserting in lieu thereof "October 28, 1987". 26 USC 404 note. (e) EFFECTIVE DATE.—The amendments made by this section shall take effect as if included in the amendments made by the provisions of the Omnibus Budget Reconciliation Act of 1987 to which it relates. SEC. 2006. AMENDMENTS RELATED TO SECTION 9201 OF THE OMNIBUS BUDGET RECONCILIATION ACT OF 1987.

(a) Subsection (c) of section 4132 of the 1986 Code (relating to imposition of tax on certain vaccines) is amended by redesignating paragraphs (1) and (2) as paragraphs (3) and (4), respectively, and by inserting before paragraph (3) (as so redesignated) the following new paragraphs: "(1) CERTAIN USES TREATED AS SALES.—Any manufacturer, producer, or importer of a vaccine which uses such vaccine

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