Page:United States Statutes at Large Volume 102 Part 4.djvu/754

 102 STAT. 3724

PUBLIC LAW 100-647—NOV. 10, 1988

SEC. 6138. STUDY OF DEFINITION OF UNITED STATES RESIDENT.

(a) IN GENERAL.—The Secretary of the Treasury or his delegate shall conduct a study of section 77010?) of the Internal Revenue Code of 1986, relating to the determination as to whether a person is a United States resident for purposes of Federal tax laws. Such study shall include an examination of— (1) the effect such determination has on Federal tax administration and investment flows between the United States and other countries, (2) the coordination of such determination with any treaty obligations of the United States, (3) how such determination compares with the way such determination is made by our major trading partners, and (4) any estimated revenue gain or loss which would result from modifying such determination. (b) REPORT.—The Secretary of the Treasury or his delegate shall report before May 1, 1989, the results of the study conducted under subsection (a) to the Committee on Finance of the Senate and the Committee on Ways and Means of the House of Representatives. SEC. 6139. SUNSET OF TREATY PROVISIONS.

(a) IN GENERAL.—No provisions of the Tax Convention with the United Kingdom (on behalf of Bermuda) or the Tax Convention with Barbados, whether entered into on, before, or after the date of enactment of this Act shall prevent application of any provision of the Internal Revenue Code of 1986 imposing insurance excise taxes. In the case of a treaty entered into after the date of enactment of this Act, the preceding sentence shall not apply if such treaty by specific reference to this section of this Act clearly expresses the intent to override the provisions of this section. O> SPECIAL RULE FOR CERTAIN TREATIES.—In the case of any treaty t) in effect on December 31, 1989, subsection (a) shall not apply to any premium allocable to insurance coverage for periods before January 1, 1990. 48 USC 1424c note.

SEC. 6140. TREATMENT OF CERTAIN AWARDS BY THE DISTRICT COURT OF GUAM.

For purposes of the internal revenue laws of the United States and Guam, gross income shall not include any amount received pursuant to any claim over which the District Court of Guam has jurisdiction by reason of section 204 of Public Law 95-134 (commonly referred to as the Omnibus Territories Act of 1977). This section shall be effective for taxable years beginning after December 31, 1985.

Subtitle G—Estate Tax Provisions SEC. 6151. TREATMENT OF CERTAIN RENTS UNDER SECTION 2032A.

(a) GENERAL RULE.—Subparagraph (A) of section 2032A(b)(5) of the 1986 Code (relating to special rules for surviving spouse) is amended by adding at the end thereof the following new sentence: "For purposes of subsection (c), such surviving spouse shall not be treated as failing to use such property in a qualified use solely because such spouse rents such property to a member of such spouse's family on a net cash basis." 26 USC 2032A note.

0)) EFFECTIVE D A T E. —

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