Page:United States Statutes at Large Volume 112 Part 1.djvu/842

 112 STAT. 816 PUBLIC LAW 105-206-^ULY 22, 1998 (1) AMENDMENT RELATED TO SECTION 1055 OF 1997 ACT.— Section 6611(g)(1) of the 1986 Code is amended by striking "(e), and (h)" and inserting "and (e)". (m) AMENDMENT RELATED TO SECTION 1061 OF 1997 ACT. — Subsection (c) of section 751 of the 1986 Code is amended by striking "731" each place it appears and inserting "731, 732,"., (n) AMENDMENT RELATED TO SECTION 1083 OF 1997 ACT. — 26 USC 39. Section 1083(a)(2) of the 1997 Act is amended— (1) by striking "21" and inserting "20"; and (2) by striking "22" and inserting "21". (o) AMENDMENTS RELATED TO SECTION 1084 OF 1997 ACT. — (1) Paragraph (3) of section 264(a) of the 1986 Code is amended by striking "subsection (c)" and inserting "subsection (d)". (2) Paragraph (4) of section 264(a) of the 1986 Code is amended by striking "subsection (d)" and inserting "subsection (e)". (3)(A) Paragraph (4) of section 264(f) of the 1986 Code is amended by adding at the end the following new subparagraph: "(E) MASTER CONTRACTS. — If coverage for each insured under a master contract is treated as a separate contract for purposes of sections 817(h), 7702, and 7702A, coverage for each such insured shall be treated as a separate contract for purposes of subparagraph (A). For purposes of the preceding sentence, the term 'master contract' shall not include any group life insurance contract (as defined in section 848(e)(2)). ". (B) The second sentence of section 1084(d) of the 1997 26 USC 101 note. Act is amended by striking "but" and all that follows and inserting "except that, in the case of a master contract (within the meaning of section 264(f)(4)(E) of the Internal Revenue Code of 1986), the addition of covered lives shall be treated as a new contract only with respect to such additional covered lives.". (4)(A) Clause (iv) of section 264(f)(5)(A) of the 1986 Code is amended by striking the second sentence. (B) Subparagraph (B) of section 6724(d)(1) of the 1986 Code is amended by striking "or" at the end of clause (xv), by striking the period at the end of clause (xvi) and inserting "; or", and by adding at the end the following new clause: "(xvii) section 264(f)(5)(A)(iv) (relating to reporting with respect to certain life insurance and annuity contracts).". (C) Paragraph (2) of section 6724(d) of the 1986 Code is amended by striking "or" at the end of subparagraph (Y), by striking the period at the end of subparagraph (Z) and inserting "or", and by adding at the end the following new subparagraph: "(AA) section 264(f)(5)(A)(iv) (relating to reporting with respect to certain life insurance and annuity contracts).". (5) Subparagraph (A) of section 264(f)(8) of the 1986 Code is amended by striking "subsection (d)(5)(B)" and inserting "subsection (e)(5)(B)". (p) AMENDMENTS RELATED TO SECTION 1085 OF 1997 ACT. — (1) Paragraph (5) of section 32(c) of the 1986 Code is amended—

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