Page:United States Statutes at Large Volume 92 Part 3.djvu/254

 92 STAT. 2886 ^

PUBLIC LAW 95-600—NOV. 6, 1978 (C) long-standing recognized practice of a significant segment of the industry in which such individual was engaged. (3) CONSISTENCY REQUIRED IN THE CASE OF I 9 7 9 TAX TREAT-

MENT.—Paragraph (1) shall not apply with respect to the treatment of any individual for employment tax purposes for any period ending after December 31, 1978, and before January 1, 1980, if the taxpayer (or a predecessor) has treated any individual holding a substantially similar position as an employee for purposes of the employment tgixes for any period beginning after December 31, 1977. (4) REFUND OR CREDIT OF OVERPAYMENT.—If refund or credit of

any overpayment of an employment tax resulting from the application of paragraph (1) is not barred on the date of the enactment of this Act by any law or rule of law, the period for filing a claim for refund or credit of such overpayment (to the extent attributable to the application of paragraph (1)) shall not expire before the date 1 year after the date of the enactment of this Act. (b) PROHIBITION AGAINST REGULATIONS AND RUUNGS ON EMPLOY-

26 USC 3101.

26 USC 216.

MENT STATUS.—No regulation or Revenue Ruling shall be published on or after the date of the enactment of this Act and before January 1, 1980 (or, if earlier, the effective date of any law hereafter enacted clarifying the employment status of individuals for purposes of the employment taxes) by the Department of the Treasury (including the Internal Revenue Service) with respect to the employment status of any individual for purposes of the employment taxes. (c) DEFINITIONS.—For purposes of this section— (1) EMPLOYMENT TAX.—The term "employment tax" means any tax imposed by subtitle C of the Internal Revenue Code of 1954. (2) EMPLOYMENT STATUS.—The term "emplojntnent status" means the status of an individual, under the usual common law rules applicable in determining the employer-employee relationship, as an employee or as an independent contractor (or other individual who is not an employee). SEC. 531. CERTAIN ORIGINAL STOCKHOLDERS OF COOPERATIVE HOUSING CORPORATIONS. (a) IN GENERAL.—Subsection (b) of section 216 (relating to deduction of taxes, interest, and business depreciation by cooperative housing corporation tenant-stockholder) is amended by adding at the end thereof the following new paragraph: "(6) STOCK OWNED BY PERSON FROM WHOM THE CORPORATION ACQUIRED ITS PROPERTY.—

"(A) IN GENERAL.—If the original seller acquires any stock of the corporation— "(i) from the corporation by purchase, or "(ii) by foreclosure (or by instrument in lieu of foreclosure) of any purchase-money security interest in such stock held by the original seller, the original seller shall be treated as a tenant-stockholder for a period not to exceed 3 years from the date of acquisition. "(B) ORIGINAL SELLER MUST HAVE RIGHT TO OCCUPY APARTMENT OR HOUSE.—Subparagraph (A) shall apply with respect

to any acquisition of stock only if, together with such acquisition, the original seller acquires the right to occupy an apartment or house to which such stock is appurtenant.

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