Page:United States Statutes at Large Volume 90 Part 2.djvu/332

 90 STAT. 1800 26 USC 6212. 26 USC 6504. 26 USC 1071, 1250.

PUBLIC LAW 94-455—OCT. 4, 1976 (C) Section 6212(c)(2)(B) is amended by striking out "1033(a)(3)(C) and (D) " and inserting in lieu thereof "1033(a)(2)(C) and (D) ". (D) Section 6504(4) is amended by striking out "1033(a) (3)(C) and (D) " and inserting in lieu thereof "1033(a)(2) (C)and(D)". (E) Sections 1071(b) and 1250(d)(4) (]>) are each amended by striking out "1033(c)" and inserting in lieu thereof "1033(b)". (32)

AMENDMENTS CONFORMING TO THE REPEAL OF SECPION

1111.—

26 USC 301. 26 USC 312. 26 USC 1246. 26 USC 964, 1248. Ante, p. 1608. 26 USC 535. 26 USC 543.

26 Use 545. 26 USC 553. 26 USC 556. 26 USC 561.

(A) Section 301 is amended by striking out subsection (f), and by redesignating subsection (g) as subsection (e). (B)(i) Section 312 is amended by striking out subsection (k), and by redesignating subsections (1) and (m) as subsections (j) and (k),respectively. (ii) Section 1246(g) is amended by striking out "312(1)" and inserting in lieu tnereof "312 (j)". (iii) Sections 964(a) and 1248(c)(1) are each amended by striking out "312(m)(3)" and inserting in lieu thereof "312 (k)(3)". (iv) Subsection (d) of section 1377, as added by this Act, is amended by striking out "312(m)" and inserting in lieu thereof "312 (k)". (C) Section 535(b) is amended by striking out paragraphs (9) and (10). (D) Section 543(a)(1) is amended by inserting "and" at the end of subparagraph (A), and by striking out subparagraphs (B) and (C) and inserting in lieu tnereof the following: " (B) interest on amounts set aside in a reserve fund under section 511 or 607 of the Merchant Marine Act, 1936 (46 U.S.C. 1161 or 1177)." (E) Section 545(b) is amended by striking out paragraphs (10) and (11). (F^ Section 553(a)(1) is amended to read as follows: "(1) DIVIDENDS, ETC.—Dividends, interest, royalties, and annuities." (G) Section 556(b) is amended by striking out paragraphs (7) and (8). (H) Section 561(b) is amended to read as follows: "(b) SPECIAL RULES APPLICABLE.—In determining the deduction for dividends paid, the rules provided in section 562 (relating to rules applicable in determining dividends eligible for dividends paid deduction) and section 563 (relating to dividends paid after the close of the taxable year) shall be applicable." (I) The table of parts for subchapter O of chapter 1 is amended by striking out the item relating to part IX. (33) AMENDMENTS CONFORMING TO AMENDMENT OF SECTION 1222.—

26 USC 57. •

(A) Section 57(a)(9)(A) is amended by striking out "the amount by which the net long-term capital gain exceeds the net short-term capital loss" and inserting in lieu thereof "the net capital gain". (B) So much of the first sentence of section 57(a)(9)(B) as precedes "by a fraction" is amended to read as follows; "In the case of a corporation having a net capital gain for the

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