Page:United States Statutes at Large Volume 92 Part 3.djvu/308

 92 STAT. 2940

PUBLIC LAW 95-600—NOV. 6, 1978 (f) TRANSITION RULE FOR PRIVATE FOUNDATIONS.—Subparagraph

26 USC 4940 note.

(F) of section 101(1)(2) of the Tax Reform Act of 1969 (relating to private foundations savings provisions) is amended by striking out the period at the end of clause (i) and inserting in lieu thereof a comma. (g) LOBBYING BY PUBLIC CHARITIES.— (1) LOBBYING NONTAXABLE AMOUNT.—Paragraph (2) of section

26 USC 4911.

4911(c) (defining lobbying nontaxable amount) is amended by striking out "proposed expenditures" in the heading of the table contained in such paragraph and inserting in lieu thereof ' 'exempt purpose expenditures''. (2) TECHNICAL AMENDMENTS RELATING TO SECTION 501.—

26 USC 501.

26 USC 501. 26 USC 501 note.

(A) Section 2(a) of Public Law 94-568 is amended by striking out "subsection (h) as subsection (i) and by inserting after subsection (g)" and inserting in lieu thereof "subsection (i) as subsection (j) and by inserting after subsection (h)". (B) Subsection (g) of section 501 of the Internal Revenue Code of 1954 (as inserted by section 2(a) of Public Law 94-568) is redesignated as subsection (i). (C) The amendments made by this paragraph shall take effect on October 20, 1976, as if included in Public Law 94-568. (h) AMENDMENTS TO FOREIGN TAX PROVISIONS.—

26 USC 907 note. 26 USC 907.

26 USC 999. 26 USC 995.

26 USC 995.

26 USC 996. 26 USC 995. 26 USC 995 o^*TTcr ono o5 TTci^ no?' 26 USC 995.

(1) Paragraph (2) of section 1035(c) of the Tax Reform Act of 1976 (relating to tax credit for production-sharing contracts) is amended— (A) by inserting "(as defined in section 907(c) of such Code)" after "gas extraction income" in subparagraph (A), and (B) by striking out "(as defined in section 907(c)(1) of such Code)" in subparagraph (B) and inserting in lieu thereof "(as so defined)". (2) Paragraph (1) of section 999(c) (relating to international boycott factor) is amended by striking out "995(b)(3)" and inserting in lieu thereof "995(b)(l)(F)(ii)". (3) Paragraph (2) of section 999(c) is amended by striking out "995(b)(l)(D)(ii)" and inserting in lieu thereof "995(b)(l)(F)(ii)". (i) AMENDMENTS TO DISC PROVISIONS.— (1) The last two sentences of section 995(b)(1) (relating to deemed distributions to shareholders of a DISC) are amended— (A) by striking out "gross income (taxable income in the case of subparagraph (D))" and inserting in lieu thereof "income"; and (B) by striking out "subparagraph (E)" and inserting in lieu thereof "subparagraph (G)". (2) Subparagraph (G) of section 995(b)(1) is amended by striking out "subsection (D)" and inserting in lieu thereof "subsection (d)". (3) Paragraph (2) of section 996(a) (relating to qualifying distributions) is amended by striking out "section 995(b)(1)(E)" and inserting in lieu thereof "section 995(b)(1)(G)". (4) Paragraph (5) of section 1101(g) of the Tax Reform Act of 1976 is amended by striking out "section 993(e)(3)" and inserting ^ jjg^ thereof "section 995(e)(3)".

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