Page:United States Statutes at Large Volume 76.djvu/1208

 1160 53 Stat. 462. 68A Stat. 849. 26 USC 7122.

PUBLIC LAW 87-870-OCT. 23, 1962

[76

STAT.

iiients, and section 3761 of the Internal Revenue Code of 1939 or section 7122 of this title, relating to compromises), only— " (A) to the extent any overpayment of income tax would result from the recomputation of the taxable income of a terminal railroad corporation in the manner described in subsection (a), " (B) if claim for credit or refund of such overpayment, based upon such recomputation, is filed prior to one year after the date of the enactment of this section, " (C) to the extent that paragraph (1) applies, and " (D) if each shareholder of such terminal railroad corporation consents in writing to the assessment, within such period as may be agreed upon with the Secretary or his delegate, of any deficiency for any year to the extent attributable to the recomputation of its taxable income in the manner described in subsection (b) correlative to its allocable share of the adjustment of taxable income made by the terminal railroad corporation in its recomputation under subparagraph (A). " (f) REGULATIONS.—The Secretary or his delegate shall prescribe such regulations as may be necessary to carry out the purposes of this section." (b) The table of parts for subchapter B of chapter 1 of such Code is amended by adding at the end thereof the following: "Part X. Terminal railroad corporations and their shareholders."

Effective date.

SEC. 2. (a) The amendments made by the first section of this Act shall apply with respect to taxable years beginning after December ol, 1953, and ending after August 16, 1954. Internal Revenue (b) Provisions having the Same effect as section 281 of the Internal ^"s'ffec^t i f proRevenue Code of 1954 (as added by the first section of this Act) shall visions. be deemed to be included in the Internal Revenue Code of 1939, effective with respect to all taxable years to which such Code applies. 68A Stat. 895. SEC. 3. (a)(1) Chapter 77 of the Internal Revenue Code of 1954 26 USC 7501 et (relating to miscellaneous provisions) is amended by adding at the ^ aeq. end thereof the. following new sections: "SEC. 7515. SPECIAL STATISTICAL STUDIES AND COMPILATIONS AND OTHER SERVICES ON REQUEST. "The Secretary or his delegate is authorized within his discretion, upon written request, to make special statistical studies and compilations involving data from any returns, declarations, statements, or other documents required by this title or by regulations or from any records established or maintained in connection with the administration and enforcement of this title, to engage in any such special study or compilation jointly with the party or parties requesting it, and to furnish transcripts of any such special study or compilation, upon the payment, by the party or parties making the request, of the cost of the work or services performed for such party or parties. "SEC. 7516. SUPPLYING TRAINING AND TRAINING AIDS ON REQUEST. "The Secretary or his delegate is authorized within his discretion, upon written request, to admit employees and officials of any State, the Commonwealth of Puerto Rico, any possession of the United States, any political subdivision or instrumentality of any of the foregoing, the District of Columbia, or any foreign government to training courses conducted by the Internal Revenue Service, and to supply diem with texts and other training aids. The Secretary or his delegate may require payment from the party or parties making the request of a reasonable fee not to exceed the cost of the training and training aids supplied pursuant to such request."

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