Page:United States Statutes at Large Volume 111 Part 1.djvu/1122

 Ill STAT. 1098 PUBLIC LAW 105-34—AUG. 5, 1997 Applicability. 26 USC 168 note. 26 USC 833 note. 26 USC 267 note. Ante. p. 275. Ante, p. 574. jurisdictional area of an Oklahoma Indian tribe (as determined by the Secretary of the Interior) and are recognized by such Secretary as eligible for trust land status under 25 CFR Part 151 (as in effect on the date of the enactment of this sentence).". (2) The amendment made by paragraph (1) shall apply as if included in the amendments made by section 13321 of the Omnibus Budget Reconciliation Act of 1993, except that such amendment shall not apply— (A) with respect to property (with an applicable recovery period under section 168(j) of the Internal Revenue Code of 1986 of 6 years or less) held by the taxpayer if the taxpayer claimed the benefits of section 168(j) of such Code with respect to such property on a return filed before March 18, 1997, but only if such return is the first return of tax filed for the taxable year in which such property was placed in service, or (B) with respect to wages for which the taxpayer claimed the benefits of section 45A of such Code for a taxable year on a return filed before March 18, 1997, but only if such return was the first return of tax filed for such taxable year. (d) AMENDMENTS RELATED TO TAX REFORM ACT OF 1986. — (1) Paragraph (3) of section 1059(d) is amended by striking "subsection (a)(2)" and inserting "subsection (a)". (2)(A) Subparagraph (A) of section 833(b)(1) is amended— (i) by inserting before the comma at the end of clause (i) "and liabilities incurred during the taxable year under cost-plus contracts", and (ii) by inserting before the comma at the end of clause (ii) "or in connection with the administration of cost-plus contracts". (B) The amendment made by subparagraph (A) shall take effect as if included in the amendments made by section 1012 of the Tax Reform Act of 1986. (e) AMENDMENT RELATED TO TAX REFORM ACT OF 1984.— (1) Section 267(f) is amended by adding at the end the following new paragraph: "(4) DETERMINATION OF RELATIONSHIP RESULTING IN DIS- ALLOWANCE OF LOSS, FOR PURPOSES OF OTHER PROVISIONS.— For purposes of any other section of this title which refers to a relationship which would result in a disallowsince of losses under this section, deferral under paragraph (2) shall be treated as disallowance.". (2) EFFECTIVE DATE.— The amendment made by paragraph (1) shall take effect as if included in section 174(b) of the Tax Reform Act of 1984. (f) AMENDMENTS RELATED TO BALANCED BUDGET ACT OF 1997. — (1) The Balanced Budget Act of 1997 is amended— (A) in the table of contents for title IV, in the item relating to section 4921, by striking "children with"; (B) in the heading for section 4921, by striking "CHIL- DREN WITH"; and (C) in the section added by section 4921— (i) in the heading for such section, by striking "CHILDREN WITH"; and (ii) by amending subsection (a) to read as follows:

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