Page:United States Statutes at Large Volume 92 Part 3.djvu/275

 PUBLIC LAW 95-600—NOV. 6, 1978

92 STAT. 2907

(3) EXTENDING FAMILY ATTRIBUTION TO SPOUSE IN THE FARMING SYNDICATE RULES.—

(A) Subparagraph (E) of section 464(c)(2) (defining farming syndicate) is amended by striking out "(within the meaning of section 267(c)(4))" and inserting in lieu thereof "(or a spouse of any such member)". (B) Paragraph (2) of section 464(c) is amended by adding at the end thereof the following new sentence: "For purposes of subparagraph (E), the term 'family' has the meaning given to such term by section 267(c)(4)." (4) EFFECTIVE DATE.—The amendment made by paragraphs (1) and (3) shall take effect as if included in section 447 or 464 (as the case may be) of the Internal Revenue (Hode of 1954 at the time of the enactment of such sections.

26 USC 464. 26 USC 267.

26 USC 447 "^*^;cr AA? i^^ '

(m) EXTENSION OF CERTAIN PROVISIONS TO FOREIGN PERSONAL HOLDING COMPANIES.—

(1) SECTION 189.—Subsection (a) of section 189 (relating to amortization of real property construction period interest and taxes) is amended— (A) by striking out "an electing small business corporation (within the meaning of section 1371(b)), or personal holding company (within the meaning of section 542),"; and (B) by adding at the end thereof the following new sentence: "For purposes of this section, an electing small business corporation (as defined in section 1371(b)), a personal holding company (as defined in section 542), and a foreign personal holding company (as defined in section 552) shall be treated as an individual." (2) SECTION 280.—Subsection (a) of section 280 (relating to certain expenditures incurred in production of films, books, records, or similar property) is amended— (A) by striking out "Except in the case of a corporation (other than an electing small business corporation (as defined in section 1371(b)) or a personal holding company (as defined in section 542) and except" and inserting in lieu thereof "In the case of an individual, except"; and (B) by adding at the end thereof the following new sentence: "For purposes of this section, an electing small business corporation (as defined in section 1371(b)), a personal holding company (as defined in section 542), and a foreign personal holding company (as defined in section 552) shall be treated as an individual."

26 USC 189.

26 USC 1371. 26 USC 542.

26 USC 552. 26 USC 280.

(3) EFFECTIVE DATES.—

(A) The amendments made by paragraph (1) shall take effect as if included in the amendment made by section 201(a) of the Tax Reform Act of 1976. (B) The amendments made by paragraph (2) shall take effect as if included in the amendment made by section 210(a) of the Tax Reform Act of 1976.

26 USC 189 "ote. 26 USC 189. 26 USC 280 note.

(n) DEFINITION OF CONDOMINIUM MANAGEMENT ASSOCIATION.—

(1) IN GENERAL.—Paragraph (2) of section 528(c) (defining 26 USC 528. condominium management association) is amended by striking out "as residences" and inserting in lieu thereof "by individuals for residences". (2) EFFECTIVE DATE.—The amendment made by paragraph (1) 26 USC 528 shall apply to taxable years beginning after December 31, 1973. note. (o) DEFINITION OF PERSONAL HOLDING COMPANY.—

�