Page:United States Statutes at Large Volume 114 Part 5.djvu/685

 PUBLIC LAW 106-554—APPENDIX G 114 STAT. 2763A-645 "(11) the amount of any designated nondeductible contribution (as defined in section 408(o)) on behalf of such spouse for such taxable year, and". (e) EFFECTIVE DATE. —The amendments made by this section shall take effect as if included in the provisions of the Small Business Job Protection Act of 1996 to which they relate. SEC. 317. AMENDMENT RELATED TO REVENUE RECONCILIATION ACT OF 1990. (a) AMENDMENT RELATED TO SECTION 11511 OF THE ACT. — Subparagraph (C) of section 43(c)(1) is amended— (1) by inserting "(as defined in section 193(b))" after "expenses", and (2) by striking "under section 193". (b) EFFECTIVE DATE.— The amendment made by this section shall take effect as if included in section 11511 of the Revenue Reconciliation Act of 1990. SEC. 318. OTHER TECHNICAL CORRECTIONS. (a) MODIFIED ENDOWMENT CONTRACTS.— (1) Paragraph (2) of section 7702A(a) is amended by inserting "or this paragraph" before the period. (2) Clause (ii) of section 7702A(c)(3)(A) is amended by striking "under the contract" and inserting "under the old contract". (3) The amendments made by this subsection shall take effect as if included in the amendments made by section 5012 of the Technical and Miscellaneous Revenue Act of 1988. (b) AFFILIATED CORPORATIONS IN CONTEXT OF WORTHLESS SECURITIES.— (1) Subparagraph (A) of section 165(g)(3) is amended to read as follows: "(A) the taxpayer owns directly stock in such corporation meeting the requirements of section 1504(a)(2), and". (2) Paragraph (3) of section 165(g) is amended by striking the last sentence. (3) The amendments made by this subsection shall apply to taxable years beginning after December 31, 1984. (c) CERTAIN ANNUITIES ISSUED BY TAX-EXEMPT ORGANIZATIONS NOT TREATED AS DEBT INSTRUMENTS UNDER ORIGINAL ISSUE DIS- COUNT RULES. — (1) Clause (ii) of section 1275(a)(1)(B) is amended by striking "subchapter L" and inserting "subchapter L (or by an entity described in section 501(c) and exempt from tax under section 501(a) which would be subject to tax under subchapter L were it not so exempt)". (2) The amendment made by this subsection shall take effect as if included in the amendments made by section 41 of the Tax Reform Act of 1984. (d) TENTATIVE CARRYBACK ADJUSTMENTS OF LOSSES FROM SEC- TION 1256 CONTRACTS.— (1) Subsection (a) of section 6411 is amended by striking "section 1212(a)(1)" and inserting "subsection (a)(1) or (c) of section 1212". (2) The amendment made by paragraph (1) shall take effect as if included in the amendments made by section 504 of the Economic Recovery Tax Act of 1981. (e) CORRECTION OF CALCULATION OF AMOUNTS TO BE DEPOSITED IN HIGHWAY TRUST FUND. —

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