Page:United States Statutes at Large Volume 102 Part 4.djvu/730

 102 STAT. 3700

PUBLIC LAW 100-647—NOV. 10, 1988

26 USC 4978 ^°^-

(b) EFFECTIVE DATE.—The amendment made by subsection (a) shall take effect as if included in the amendment made by section 10413 of the Revenue Act of 1987.

26 USC 133 note.

SEC. 6061. LOANS TO ACQUIRE EMPLOYER SECURITIES.

Notwithstanding the last sentence of section lllB(h)(5)(A) of this Act, the amendments made by paragraphs (1) and (2) of section lllB(h) of this Act shall not apply to any loan used to refinance a loan described in section 133(b)(l)(A) of the 1986 Code which is made before October 22, 1986, if the terms of the refinanced loan do not extend the total commitment period beyond the later of— (1) the term of the original securities acquisition loan, or (2) the amortization period used to determine the regular pa3nnents (prior to any final or balloon payment) applicable to the original securities acquisition loan. SEC. 6062. EFFECTIVE DATE OF SECTION 415 LIMITATIONS OF COLLECTIVELY BARGAINED AGREEMENTS. (a) IN GENERAL.—Paragraph (2) of section 1106(i) of the Reform 26 USC 415 note. Act is amended to read as follows: "(2) COLLECTIVE BARGAINING AGREEMENTS.—In the case of a plan in effect before March 1, 1986, pursuant to 1 or more collective bargaining agreement^ between employee representatives and 1 or more employers, the amendments made by this section (other than subsection (d)) shall not apply to contributions or benefits pursuant to such agreement in years beginning before October 1, 1991." 26 USC 415 note. (b) EFFECTIVE DATE.—The amendment made by this section shall take effect as if included in the provisions of section 1106 of the Reform Act. 26 USC 125 note.

SEC. 6063. TREATMENT OF PRE-1989 ELECTIONS FOR DEPENDENT CARE ASSISTANCE UNDER CAFETERIA PLANS.

For purposes of section 125 of the 1986 Code, a plan shall not be treated as failing to be a cafeteria plan solely because under the plan a participant elected before January 1, 1989, to receive reimbursement under the plan for dependent care assistance for periods after December 31, 1988, and such assistance is includible in gross income under the provisions of the Family Support Act of 1988. SEC. 6064. MODIFICATIONS TO SECTION 457. Government

organization and employees.

(a) CODIFICATION OF EXCEPTION FOR CERTAIN P L A N S. —

(1) Subsection (e) of section 457 of the 1986 Code (as amended ^^ section 1107 of the Reform Act) is amended by adding at the end thereof the following new paragraph: "(11) CERTAIN PLANS EXCEPTED.—Any bona fide vacation leave, sick leave, compensatory time, severance pay, disability pay, or death benefit plan shall be treated as a plan not providing for the deferral of compensation." (2) Subsection (d) of section 457 of the 1986 Code (as in effect on the day before the date of the enactment of the Reform Act) is amended by adding at the end thereof the following new paragraph: "(10) CERTAIN PLANS EXCEPTED.—Any bona fide vacation leave, sick leave, compensatory time, severance pay, disability

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