Page:United States Statutes at Large Volume 102 Part 4.djvu/740

 102 STAT. 3710

PUBLIC LAW 100-647—NOV. 10, 1988

(1) IN GENERAL.—Subsection (c) of section 130 of the 1986 Code (relating to certain personal injury liability assignments) is amended— (A) by striking out subparagraph (C) of paragraph (2) and redesignating subparagraphs (D) and (E) of paragraph (2) as subparagraphs (C) and (D), respectively, and (B) by adding at the end thereof the following new sentence: "The determination for purposes of this chapter of when the recipient is treated as having received any payment with respect to which there has been a qualified assignment sheill be made without regard to any provision of such assignment which grants the recipient rights as a creditor greater than those of a general creditor." 26 USC 130 note. (2) EFFECTIVE DATE.—The amendment made by paragraph (1) shall apply to assignments after the date of the enactment of this Act. SEC. 6080. VARIABLE CONTRACTS INVESTED IN GOVERNMENT SECURITIES PERMITTED. (a) IN GENERAL.—Subsection (h) of section 817 of the 1986 Code (relating to treatment of certain nondiversified contracts) is amended by adding at the end thereof the following new paragraph: "(6)

26 USC 817 note.

GOVERNMENT

SECURITIES

FUNDS.—In

determining

whether a segregated asset account is adequately diversified for purposes of paragraph (1), each United States Government agency or instrumentality shall be treated as a separate issuer." (b) EFFECTIVE DATE.—The amendment made by subsection (a) shall apply to taxable years beginning after December 31, 1987

Subtitle E—Excise Tax Provisions SEC. 6101. AUTHORITY TO PRESCRIBE TOLERANCES FOR THE VOLUME OF WINE IN BOTTLES FOR PURPOSES OF THE EXCISE TAX ON WINE.

26 USC 5041 note.

(a) IN GENERAL.—Section 5041 of the 1986 Code (relating to imposition and rate of tax on wine) is amended by redesignating subsection (d) as subsection (e) and by inserting after subsection (c) the following new subsection: "(d) TOLERANCES.—Where the Secretary finds that the revenue will not be endangered thereby, he may by regulation prescribe tolerances (but not greater than V2 of 1 percent) for bottles and other containers, and, if such tolerances are prescribed, no assessment shall be made and no tax shall be collected for any excess in any case where the contents of a bottle or other container are within the limit of the applicable tolerance prescribed." (b) EFFECTIVE DATE.—The amendment made by subsection (a) shall apply to wine removed after December 31, 1988. SEC. 6102. WHOLESALE DISTRIBUTORS TO ADMINISTER CLAIMS FOR REFUND OF GASOLINE TAX.

(a) IN GENERAL.—Subsection (a) of section 6416 of the 1986 Code (relating to certain taxes and services) is amended by adding at the end thereof the following new paragraph: "(4) WHOLESALE DISTRIBUTORS TO ADMINISTER CREDITS AND REFUNDS OF GASOLINE TAX.—

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