Page:United States Statutes at Large Volume 72 Part 1.djvu/1688

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PUBLIC LAW 85-866-SEPT. 2, 1958

[72 S T A T.

(3) by striking out in subsection (c) (as redesignated by paragraph (2)) "subsection (a) " and inserting in lieu thereof "subsections (a) and (b)". (c) TECHNICAL AMENDMENTS.—

26 USC 165.

(1) Section 165(h) (relating to deduction for losses) is amended by adding at the end thereof the following new paragraphs: "(3) For special rule for losses on stock in a small business investment company, see section 1242. "(4) For special rule for losses of a small business investment company, see section 1243." 26 USC 246. (2) Section 246(b)(1) (relating to limitation on aggregate amount of deductions for dividends received by corporations) is amended by striking out "243" each place it appears therein and inserting in lieu thereof "243 (a) ". (3) The table of sections for part IV of subchapter P of chapter 1 is amended by adding at the end thereof "Sec. 1242. Losses on small business investment company stock. "Sec. 1243. Loss of small business investment company." (d) EFFECTIVE DATE.—The amendments made by this section shall apply with respect to taxable years beginning after the date of the enactment of this Act. SEC. 58. AMOUNTS RECEIVED AS DAMAGES FOR INJURIES UNDER THE ANTITRUST LAWS. (a) LIMITATION ON T A X. — Part I of subchapter Q of chapter 1 (relating to income attributable to several taxable years) is amended by renumbering section 1306 as 1307, and by inserting after section 1305 the following new section: "SEC. 1306. DAMAGES FOR INJURIES UNDER THE ANTITRUST LAWS. "If an amount representing damages is received or accrued during a taxable year as a result of an award in, or settlement of, a civil action brought under section 4 of the Act entitled 'An Act to supplement existing laws against unlawful restraints and monopolies, and for other purposes', approved October 15, 1914 (commonly known as 15 ^ifsc'^°2-27 t^^ Clayton Act), for injuries sustained by the taxpayer in his business 44. ' or property by reason of anything forbidden in the antitrust laws, then the tax attributable to the inclusion of such amount in gross income for the taxable year shall not be greater than the aggregate of the increases in taxes which would have resulted if such amount had been included in gross income in equal installments for each month during the period in which such injuries were sustained by the taxpayer." (b) TABLE OF CONTENTS.—The table of sections for part I of subchapter Q of chapter 1 is amended by striking out "Sec. 1306. Rules applicable to this part." and inserting in lieu thereof "Sec. 1306. Damages for injuries under the antitrust laws. "Sec. 1307. Rules applicable to this part." (c) EFFECTIVE DATE.—The amendments made by subsections (a) and (b) shall apply to taxable years ending after the date of the enactment of this Act, but only with respect to amounts received or accrued after such date as a result of awards or settlements made after such date.

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