Page:United States Statutes at Large Volume 83.djvu/292

 264 78 Stat. 823. 26 USC 4914.

76 Stat. 969. 81 Stat. 158.

Effective date.

78 Stat. 835.

78 Stat. 809; 78 Stat. 814; 79 Stat. 958. Effective date.

PUBLIC LAW 91-128-NOV. 26, 1969

[83 STAT.

(c) TRANSFERS OF EXI'ORT CREDIT PAPER.—

(1) Section 4914(j)(1)(A) is amended by redesignating clauses (iii) and (iv) as clauses (iv) and (v), respectively, and by inserting after clause (ii) the following new clause: "(iii) to an includible corporation in an affiliated group (as defined in section 48(c)(3)(C)) of which such person is a member;''. (2) Section 4914(c)(7) is amended by striking out " (j)(l) (A) (iii)" and inserting in lieu thereof "(j)(1)(A) (iv)". ^3^ -pj^g amendments made by this subjection shall apply with respect to subsequent transfers (within the meaning of section 4914(]') (1)(A) of the Internal Revenue Code of 1954) occurring after the date of the enactment of this Act. (d) DEALER RESALE EXEMPTION.—

(1) Section 4919(c) is amended by striking out "and" at the end of paragraph (1), by striking out the period at the end of paragraph (2) and inserting in lieu thereof "; and", and by adding at the end thereof the following new paragraph: "(3) the term 'persons other than United States persons' includes any foreign branch whose acquisition of stock or a debt obligation of a foreign issuer or obligor from an underwriter or dealer is excluded from the tax imposed by section 4911 by reason ^f the last sentence of section 4 9 1 4 (b)(2)(B), but only with rBspect to the acquisition of stock or debt obligations to which such exclusion applies." ^2) Tile amendments made by paragraph (1) of this subsection shall apply with respect to acquisitions made by foreign branches after the date of the enactment of this Act. (e)

CERTAIN FINANCING COMPANIES.—

81 Stat. 161.

(1) Section 4920(a) (3B) is amended to read as follows: "(3B) CERTAIN DOMESTIC FINANCING COMPANIES.—The terms 'foreign issuer*, 'foreign obligor', and 'foreign issuer or obligor' also mean a domestic corporation to the extent provided in subsection (d). "

79^stat^*96^3^^'

^^^ Section 4920 is amended by r e designating subsection (d) as subsection (e) and by inserting after subsection (c) the following new s e c t i o n: " (d) CERTAIN DOMESTIC F I N A N C I N G C O M P A N I E S. — For purposes of

this chapter, the terms 'foreign issuer', 'foreign obligor', and 'foreign issuer or obligor' include a domestic corporation if— "(1) such corporation is exclusively engaged in the trade or business of— " (A) acquiring, servicing, or acquiring and servicing— " (i) debt obligations arising out of the sale of tangible personal property produced, manufactured, assembled, or extracted by one or more includible corporations in an affiliated group (as defined in section 4 8 (c)(3)(C)) of which such corporation is a member, "(ii) debt obligations arising out of the sale of tangible personal property received as part or all of the consideration in sales of property described in clause (i), "(iii) debt obligations arising out of the sale of tangible personal property received as part or all of the consideration in sales of property described in clause (ii), "(iv) debt obligations arising out of the sale or lease of tangible personal property or the performance of

�