Page:United States Statutes at Large Volume 120.djvu/2996

 PUBLIC LAW 109–432—DEC. 20, 2006

120 STAT. 2965

‘‘(A) IN GENERAL.—The term ‘qualified zone domestic trade’ means the transportation of goods or passengers between places in the qualified zone if such transportation is in the United States domestic trade. ‘‘(B) QUALIFIED ZONE.—The term ‘qualified zone’ means the Great Lakes Waterway and the St. Lawrence Seaway.’’. (b) EFFECTIVE DATE.—The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.

26 USC 1355 note.

SEC. 416. USE OF QUALIFIED MORTGAGE BONDS TO FINANCE RESIDENCES FOR VETERANS WITHOUT REGARD TO FIRSTTIME HOMEBUYER REQUIREMENT.

(a) IN GENERAL.—Section 143(d)(2) (relating to exceptions to 3-year requirement) is amended by striking ‘‘and’’ at the end of subparagraph (B), by adding ‘‘and’’ at the end of subparagraph (C), and by inserting after subparagraph (C) the following new subparagraph: ‘‘(D) in the case of bonds issued after the date of the enactment of this subparagraph and before January 1, 2008, financing of any residence for a veteran (as defined in section 101 of title 38, United States Code), if such veteran has not previously qualified for and received such financing by reason of this subparagraph,’’. (b) EFFECTIVE DATE.—The amendments made by this section shall apply to bonds issued after the date of the enactment of this Act.

26 USC 143.

26 USC 143 note.

SEC. 417. EXCLUSION OF GAIN FROM SALE OF A PRINCIPAL RESIDENCE BY CERTAIN EMPLOYEES OF THE INTELLIGENCE COMMUNITY.

(a) IN GENERAL.—Subparagraph (A) of section 121(d)(9) (relating to exclusion of gain from sale of principal residence) is amended by striking ‘‘duty’’ and all that follows and inserting the following: ‘‘duty— ‘‘(i) as a member of the uniformed services, ‘‘(ii) as a member of the Foreign Service of the United States, or ‘‘(iii) as an employee of the intelligence community.’’. (b) EMPLOYEE OF INTELLIGENCE COMMUNITY DEFINED.— Subparagraph (C) of section 121(d)(9) is amended by redesignating clause (iv) as clause (v) and by inserting after clause (iii) the following new clause: ‘‘(iv) EMPLOYEE OF INTELLIGENCE COMMUNITY.— The term ‘employee of the intelligence community’ means an employee (as defined by section 2105 of title 5, United States Code) of— ‘‘(I) the Office of the Director of National Intelligence, ‘‘(II) the Central Intelligence Agency, ‘‘(III) the National Security Agency, ‘‘(IV) the Defense Intelligence Agency, ‘‘(V) the National Geospatial-Intelligence Agency, ‘‘(VI) the National Reconnaissance Office,

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