Page:United States Statutes at Large Volume 107 Part 1.djvu/446

 107 STAT. 420 PUBLIC LAW 103-66—AUG. 10, 1993 Subchapter A—Training and Investment Incentives PART I—PROVISIONS RELATING TO EDUCATION AND TRAINING SEC. 13101. EMPLOYER-PROVTOED EDUCATIONAL ASSISTANCE. (a) EXTENSION OF EXCLUSION.— 26 USC 127. (1) IN GENERAL.—Subsection (d) of section 127 (relating to educational assistance programs) is amended to read as follows: "(d) TERMINATION.— This section shall not apply to taxable years beginning after December 31, 1994." (2) CONFORMING AMENDMENT.—Paragraph (2) of section 103(a) of the Tax Extension Act of 1991 is hereby repealed. (b) COORDINATION WITH SECTION 132. —Paragraph (8) of section 132(i) is amended to read as follows: "(8) APPLICATION OF SECTION TO OTHERWISE TAXABLE EDU- CATIONAL OR TRAINING BENEFITS. — Amounts paid or expenses incurred by the employer for education or training provided to the employee which are not excludable from gross income under section 127 shall be excluded from gross income under this section if (and only if) such amounts or expenses are a working condition fringe." (c) EFFECTIVE DATES. — 26 USC 127 note. (1) SUBSECTION (a). —The amendments made by subsection (a) shall apply to taxable years ending after June 30, 1992. 26 USC 132 note. (2) SUBSECTION (b).— The amendment made by subsection (b) shall apply to taxable years beginning after December 31, 1988. SEC. 13102. TARGETED JOBS CREDIT. (a) EXTENSION OF CREDIT. —Paragraph (4) of section 51(c) (relating to termination) is amended by striking "June 30, 1992" and inserting "December 31, 1994". 26 USC 51 note. (b) EFFECTIVE DATE. —The amendment made by subsection (a) shall apply to individuals who begin work for the employer after June 30, 1992. PART II—INVESTMENT INCENTIVES Subpart A—Research and Clinical Testing Credits SEC. 13111. EXTENSION OF RESEARCH AND CLINICAL TESTING CRED- ITS. (a) RESEARCH CREDIT.— (1) IN GENERAL. —Subsection (h) of section 41 (relating to credit for research activities) is amended— (A) by striking "June 30, 1992" each place it appears and inserting "June 30, 1995", and (B) by striking "July 1, 1992" each place it appears and inserting "July 1, 1995". (2) CONFORMING AMENDMENT. — Subparagraph (D) of section 28(b)(1) is amended by striking "June 30, 1992" and inserting "June 30, 1995". (b) CLINICAL TESTING CREDIT. —Subsection (e) of section 28 is amended by striking "June 30, 1992" and inserting "December 31, 1994".

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