Page:United States Statutes at Large Volume 115 Part 1.djvu/132

 115 STAT. 110 PUBLIC LAW 107-16^JUNE 7, 2001 or incurred for the taxable year which is equal to the credit determined under subsection (a). "(3) ELECTION NOT TO CLAIM CREDIT. —This section shall not apply to a taxpayer for any taxable year if such taxpayer elects to have this section not apply for such taxable year.". (b) CREDIT ALLOWED AS PART OF GENERAL BUSINESS CREDIT.— 26 USC 38. Section 38(b) (defining current year business credit) is amended by striking "plus" at the end of paragraph (12), by striking the period at the end of paragraph (13) and inserting ", plus", and by adding at the end the following new paragraph: "(14) in the case of an eligible employer (as defined in section 45E(c)), the small employer pension plan startup cost credit determined under section 45E(a).". (c) CONFORMING AMENDMENTS. — (1) Section 39(d) is amended by adding at the end the following new paragraph: "(10) No CARRYBACK OF SMALL EMPLOYER PENSION PLAN STARTUP COST CREDIT BEFORE JANUARY 1, 2002. — No portion of the unused business credit for any taxable year which is attributable to the small employer pension plan startup cost credit determined under section 45E may be carried back to a taxable year beginning before January 1, 2002.". (2) Subsection (c) of section 196 is amended by striking "and" at the end of paragraph (8), by striking the period at the end of paragraph (9) and inserting ", and", and by adding at the end the following new paragraph: "(10) the small employer pension plan startup cost credit determined under section 45E(a).". (3) The table of sections for subpart D of part IV of subchapter A of chapter 1 is amended by adding at the end the following new item: "Sec. 45E. Small employer pension plan startup costs.". Applicability. (d) EFFECTIVE DATE. —The amendments made by this section 26 USC 38 note. shall apply to costs paid or incurred in taxable years beginning after December 31, 2001, with respect to qualified employer plans established after such date. 26 USC 7801 SEC. 620. ELIMINATION OF USER FEE FOR REQUESTS TO IRS note. REGARDING PENSION PLANS. (a) ELIMINATION OF CERTAIN USER FEES. — The Secretary of the Treasury or the Secretary's delegate shall not require payment of user fees under the program established under section 10511 of the Revenue Act of 1987 for requests to the Internal Revenue Service for determination letters with respect to the qualified status of a pension benefit plan maintained solely by one or more eligible employers or any trust which is part of the plan. The preceding sentence shall not apply to any request— (1) made after the later of— (A) the fifth plan year the pension benefit plan is in existence; or (B) the end of any remedial amendment period with respect to the plan beginning within the first 5 plan years; or (2) made by the sponsor of any prototype or similar plan which the sponsor intends to market to participating employers.

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