Page:United States Statutes at Large Volume 76.djvu/1207

 76 STAT.]

PUBLIC LAW 87-870-OCT. 23, 1962

" (d) DEFINITIONS.—For purposes of this section— "(1) TERMINAL RAILROAD CORPORATION.—The term 'terminal railroad corporation' means a domestic railroad corporation which is not a member, other than as a common parent corporation, of an affiliated group (as defined in section 1504) and— " (A) all of the shareholders of which are domestic railroad corporations subject to part I of the Interstate Commerce Act; " (B) the primary business of which is the providing of railroad terminal and switching facilities and services to ^^ > domestic railroad corporations subject to part I of the Inter' state Commerce Act and to the shippers and passengers of .; such railroad corporations; " (C) a substantial part of the services of which for the taxable year is rendered to one or more of its shareholders; and " (D) each shareholder of which computes its taxable income on the basis of a taxable year beginning or ending on the same day that the taxable year of the terminal railroad t corporation begins or ends. ^: "(2) RELATED TERMINAL INCOME.—The term 'related terminal income' means the income (determined in accordance with regulations prescribed by the Secretary or his delegate) of a terminal railroad corporation derived— " (A) from services or facilities of a character ordinarily and regularly provided by terminal railroad corporations for railroad corporations or for the employees, passengers, or shippers of railroad corporations; " (B) from the use by persons other than railroad corpora-' tions of portions of a facility, or a service, which is used pri'•• marily for railroad purposes; " (C) fron^ any railroad corporation for services or facilities provided by such terminal railroad corporation in connection with railroad operations; and > " (D) from the United States in payment for facilities or services in connection with mail handling, i For purposes of subparagraph (B), a substantial addition, constructed after the date of the enactment of this section, to a facility shall be treated as a separate facility. "(3) RELATED TERMINAL SERVICES.—The term 'related terminal services' includes only services, and the use of facilities, taken into account in computing related terminal income. "(e)

1159

68A Stat. 369. ^^ ^^^ ^^°'^24 Stat. 379. ^9 USC 27.

nsb • ^

APPLICATION TO TAXABLE YEARS ENDING BEFORE THE DATE OF

ENACTMENT.—In the case of any taxable year ending before the date of the enactment of this section— " (1) this section shall apply only to the extent that the taxpayer computed on its return, filed at or prior to the time (including extensions thereof) that the return for such taxable year was required to be filed, its taxable income in the manner described in subsection (a) in the case of a terminal railroad corporation, or in the manner described in subsection (b) in the case of a shareholder of a terminal railroad corporation; and "(2) this section shall apply to a taxable year for which the assessment of any deficiency, or for which refund or credit of any overpayment, whichever is applicable, was prevented, on the date of the enactment of this section, by the operation of any law or rule of law (other than section 3760 of the Internal Revenue Code of 1939 or section 7121 of this title, relating to closing agree-

53 Stat. 462. fg^lcVm^'

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