Page:United States Statutes at Large Volume 76.djvu/1010

 962

PUBLIC LAW 87-834-OCT. 16, 1962

[76 STAT.

(b) T A K L E OF CoNTENais.—Continued

Sec. 20. Information with respect to certain foreign entities. (a) Information to be furnished by individuals, domestic corporations, etc., with respect to certain foreign corporations. (b) Information as to organization or reorganization of foreign corporations and as to acquisitions of their stock. (c) Civil penalty for failure to file return. (d) Technical amendments. (e) Effective date.

Sec. 21. Expenditures by farmers for clearing land. (a) Allowance of deduction. (b) Conforming amendment. (c) Clerical amendment. .^f (d) Effective date. Sec. 22. Charitable contributions made from income attributable to several taxable years. (a) Treatment for purposes of part I of subchapter Q. (b) Effective date. Sec. 23. Effective date of section 1371(c) of the Internal Revenue Code of 1954. (a) In general. (b) Election and consent by corporations; consents by shareholders. (c) Tolling of statutes of limitations. Sec. 24. Certain losses sustained in converting from street railway to bus operations. (a) In general. (b) Unused conversion loss defined. (c) Treatment of unused conversion loss. (d) Regulations. Sec. 25. Pension plan of Local Union Numbered 435, International Hod Carriers' Building and Common Laborers' Union of America. Sec. 26. Continuation of a partnership year for surviving partner in a two-man partnership where one dies. (a) Close of taxable year of two-man partnership when one partner dies. (b) Effective date, etc. Sec. 27. Exclusion from gross income of certain awards made pursuant to evacuation claims of Japanese-American persons. (a) In general. (b) Effective date, etc. Sec. 28. Deduction for depreciation by tenant-stockholder of cooperative housing corporation. (a) Allowance of deduction. (b) Clerical amendment. (c) Effective date. Sec. 29. Deduction for income tax purposes of contributions to certain organizations for judicial reform. Sec. 30. Effective date of amendment to section 1374(b). Sec. 31. Treaties. (c) AMENDMENT OF 1954 CODE.—Except as otherwise expressly provided, whenever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provi26 USC 1 et seq. sion of the Internal Revenue Code of 1954. SEC. 2. CREDIT FOR INVESTMENT IN CERTAIN DEPRECIABLE PROPERTY. ^a) AiiLOWANCE OF CRBDIT.—Part IV of subchapter A of chapter 26 USC 31-38. 1 (relating to credits against tax) is amended by redesignating section 38 as section 39 and by inserting after section 37 the following new section: Post. pp. 967, «SEC. 38. INVESTMENT IN CERTAIN DEPRECIABLE PROPERTY. ^®** " (a) GENERAL RULE.—There shall be allowed, as a credit against the Post, p. 963. tax imposed by this chapter, the amount determined under subpart B of this part.

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