Page:United States Statutes at Large Volume 90 Part 2.djvu/261

 90 STAT. 1729

PUBLIC LAW 94-455—OCT. 4, 1976

(5) i n the case of amendments to subtitle D, to taxable years 26 USC 4001. beginning after December 31, 1976; and (6) in the case of amendments to subtitle F, on and after the 26 USC 6001. date of the enactment of t h i s Act. SEC. 1308. TAX LIENS, ETC., NOT TO CONSTITUTE ACQUISITION INDEBTEDNESS. (a) GENERAL RULE.—Section 5 1 4 (c)(2) (relating to property 26 USC 514. acquired subject to mortgages, etc.) is amended by a d d i n g a t the end thereof the following new subparagraph: " (C) L I E N S FOR TAXES OR ASSESSMENTS.—Where State law

provides that — " (i) a lien for taxes, or " (ii) a lien for assessments, m a d e by a State or a political subdivision thereof attaches to property p r i o r to the time when such taxes or assessments become due and payable, the n such lien shall be treated as similar to a mortgage (within the meaning of subparagraph (A)) b u t only after such taxes or assessments become due and payable and the organization has h a d a n opportunity to p a y such taxes or assessments i n accordance w i t h State law.". (b) EFFECTIVE D A T E. — The amendment made by this section shall apply to taxable years ending after December 31, 1969. SEC. 1309. EXTENSION OF SELF-DEALING TRANSITION RULES FOR PRIVATE FOUNDATIONS. (a) EXTENSION OF RULE.—Section 101(1)(2)(B) of the T a x Reform

Act of 1969 is amended by striking out " January 1, 1975" and inserting in lieu thereof " January 1, 1977". (b) EFFECTIVE D A T E. — The amendment m a d e by this section shall a p p l y to dispositions made after the date of the enactment of this Act. SEC. 1310. IMPUTED INTEREST. (a) GENERAL RULE.—Section 4942(f)(2) (relating to income modifications) is amended— (1) by striking out " and " a t the end of subparagraph (B), (2) by striking out the period a t the end of subparagraph (C) and inserting in lieu thereof "; and ", and (3) by a d d i n g at the end thereof the following new subparagraph: " (D) section 483 (relating to imputed interest) shall not Pply ill the case of a binding contract made in a taxable year beginning before January 1, 1970.". (b) EFFECTIVE D A T E. — The amendments made by this section shall a p p l y to taxable years ending after the date of the enactment of this Act. SEC. 1311. CERTAIN HOSPITAL SERVICES. (a) IN GENERAL.—Section 513 (relating to unrelated trade o r business) is amended by a d d i n g a t the end thereof the following new subsection: "(e)

CERTAIN

HOSPITAL SERVICES.—In the

case of

a

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,

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26 USC 514 note.

26 USC 4940 note.

26 USC 4942.

26 USC 4942 note.

26 USC 513.

hospital "Unrelated trade described in section 170(b)(1)(A) ( i i i), the term 'unrelated trade o r or business."

business' does not include the furnishing of one or more of the services described in section 501(e)(1)(A) to one or more hospitals described in section 170(b)(1)(A) (iii) if—

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