Page:United States Statutes at Large Volume 103 Part 3.djvu/310

 103 STAT. 2378 PUBLIC LAW 101-239—DEC. 19, 1989 ''(i) IN GENERAL. — If the taxpayer elects the applica- ,^,, tion of this subparagraph, an amount chargeidble to capital account— "(1) to which paragraph (1) would apply but for subparagraph (B)(ipthereof,or "(ID to which paragraph (2) would apply but for subparagraph (B) thereof, shall be allowed as a deduction ratably over the 25-year period beginning with the taxable year in which the transfer occurs. "(ii) CONSISTENT TREATMENT. — An election under clause (i) shall apply to all amounts which are part of ' •"' the same transaction (or a series of related trans- actions). "(4) RmrawAiiS, ETC. —For purposes of determining the term of a transfer agreement or any period of amortization under this subsection, there shall be taken into account all renewal options (and any other period for which the parties reasonably expect the agreement to be renewed). "(5) CERTAIN RULES MADE APPLICABLE.— Rules similar to the rules of section 168(i)(7) shall apply for purposes of this subsec- tion.", (b) TECHNICAL AMENDMENTS. — (1) DEPRECIATION ALLOWABLE. —Subsection (r) of section 167 is hereby repealed. (2) DEDUCTION SUBJECT TO RECAPTURE. — (A) Subparagraph (C) of section 1245(a)(2) is amended by striking "or 193" and inserting "193, or 1253(d)(2) or (3)'\ (B) The material preceding subparagraph (A) of section 1245(a)(3) is amended by striking "section 185" and insert- ing "section 185 or 1253(d)(2) or (3)". 26 USC 167 note. (c) EFFECTIVE DATE. — (1) IN GENERAL. — The amendments made by this section shall apply to transfers after October 2, 1989. y (2) BINDING CONTRACT.— The amendments made by this sec- tion shall not apply to any transfer pursuant to a written binding contract in effect on October 2, 1989, and at all times thereafter before the transfer. PART IV—EMPLOYMENT TAX PROVISIONS SEC. 7631. TREATMENT OF AGRICULTURAL WORKERS UNDER WAGE WITHHOLDING. (a) IN GENERAL. —Paragraph (2) of section 3401(a) (defining wages) is amended to read as follows: "(2) for agricultural labor (as defined in section 3121(g)) unless the remuneration paid for such labor is wages (as defined in section 3121(a)); or". (b) CREW LEADER RULES To APPLY. —Section 3401 is amended by adding at the end thereof the following new subsection: "(h) CREW LEADER RULES To APPLY.— Rules similar to the rules of section 3121(o) shall apply for purposes of this chapter." 26 USC 3401 (c) EFFECTIVE DATE.— The amendments made by this section shall note. apply to remuneration paid after December 31, 1989.

�