Page:United States Statutes at Large Volume 102 Part 4.djvu/733

 PUBLIC LAW 100-647—NOV. 10, 1988

102 STAT. 3703

"(8) AIR CARGO.—For purposes of subsection (b), the transportation of cargo by air and the transportation of passengers by air shall be treated as the same service." (b) EFFECTIVE DATE.—The amendment made by subsection (a) 26 USC 132 note. shall apply to transportation furnished after December 31, 1987, in taxable years ending after such date. SEC. 6067. SPECIAL RULE FOR APPLYING SPIN-OFF RULES TO BRIDGE BANKS.

(a) IN GENERAL.—Section 414(1)(2) of the 1986 Code is amended by adding at the end thereof the following new subparagraph: "(G) SPECIAL RULES FOR BRIDGE BANKS.—For purposes of this paragraph, in the case of a bridge bank established under section ll(i) of the Federal Deposit Insurance Act (12 U.S.C. 1821(i))— "(i) such bank shall be treated as a member of any controlled group which includes any insured bank (as defined in section 3(h) of such Act (12 U.S.C. 1813(h)))— "(I) which maintains a defined benefit plan, "(II) which is closed by the appropriate bank regulatory authorities, and "(III) any asset and liabilities of which are received by the bridge bank, and "(ii) the requirements of this paragraph shall not be treated as met with respect to such plan unless during the 180-day period beginning on the date such insured bank is closed— "(I) the bridge bank has the right to require the plan to transfer (subject to the provisions of this paragraph) not more than 50 percent of the excess assets (as defined in subparagraph (O) to a defined benefit plan maintained by the bridge bank with respect to participants or former participants (including retirees and beneficiaries) in the original plan employed by the bridge bank or formerly employed by the closed bank, and "(II) no other merger, spin-off, termination, or similar transaction involving the portion of the excess assets described in subclause (I) may occur without the prior written consent of the bridge bank." (b) STUDY.—The Secretary of the Treasury or his delegate, in 26 USC 414 note. consultation with the Federal Deposit Insurance Corporation, shall conduct a study with respect to the proper method of allocating assets in the case of a transaction to which the amendment made by this subsection applies. The Secretary of the Treasury shall not later Reports. than January 1, 1990, report the results of such study to the Committee on Ways and Means of the House of Representatives and to the (Dommittee on Finance of the Senate. (c) EFFECTIVE DATE.—The amendment made by this section shall 26 USC 414 note. take effect as if included in the amendments made by section 205(c) of this Act. SEC. 6068. INCOME AVERAGING ALLOWED TO LUMP-SUM DISTRIBUTIONS OF ALTERNATE PAYEES.

(a) IN GENERAL.—Section 402(e)(4) of the 1986 Code is amended by adding at the end thereof the following new subparagraph:

�