Page:United States Statutes at Large Volume 92 Part 3.djvu/309

 PUBLIC LAW 95-600—NOV. 6, 1978

92 STAT. 2941

(j) AMENDMENTS RELATING TO DEADWOOD PROVISIONS.— (1) TAX EXEMPT GOVERNMENTAL OBLIGATIONS.—

(A) The heading of paragraph (1) of section 103(b) is 26 USC 103. amended to read as follows: "(1) SUBSECTION (a)(i) OR (2) NOT TO APPLY.—".

(B) Paragraph (1) of section 103(c) is amended by striking out "(a)(1) or (4)" each place it appears (including in the paragraph heading) and inserting in lieu thereof "(a)(1) or (2)". (C) Subparagraph (A) of section 103(c)(2) is amended by striking out "subsection (a)(1) or (2) or (4)" and inserting in lieu thereof "subsection (a)(1) or (2)". (D) Paragraph (5) of section 103(c) is amended by striking out "subsection (d)(2)(A)" and inserting in lieu thereof "paragraph (2)(A)". (E) Subsection (d) of section 103 is amended by striking out "subsection (c)(4)(G)" and inserting in lieu thereof "subsection (b)(4)(G)". (2) AMENDMENTS RELATING TO SECTION 311(d)(2).— (A) Subsection (b) of section 2 of the Bank Holding: Company Tax Act of 1976 is amended— (i) by striking out "subparagraph (F)" and inserting in lieu thereof "subparagraph (E)", and (ii) by striking out "subparagraph (G)" and inserting in lieu thereof "subparagraph (F)". (B) Subparagraph (H) of section 311(d)(2) is redesignated as subparagraph (G). (C) The amendments made by this paragraph shall take effect as if included in section 206) of the Bank Holding Company Tax Act of 1976. (3) AMENDMENT TO SECTION 453(c).—Paragraph (3) of section 453(c) is amended— (A) by striking out "(or by the corresponding provisions of prior revenue laws)" in the first sentence, and (B) by striking out the last sentence. (4) AMENDMENT OF SECTION 801(g).—Paragraphs (l)(B)(ii) and (7) of section 801(g) are each amended by striking out "subparagraph (A), (B), (C), (D), or (E) of section 805(d)(1)" and inserting in lieu thereof "any paragraph of section 805(d)". (5) AMENDMENT OF SECTION 1033(a)(2).—Clause (ii) of section 103(a)(2)(A) is amended by striking out "subsection (c)" and inserting in lieu thereof "subsection (b)". (6) AMENDMENT OF SECTION 1375(a).—Paragraph (2) of section 1375(a) is amended by striking out "such excess" each place it appears and inserting in lieu thereof "such gain". (7) AMENDMENT OF SECTION I56l0b)(3).—Paragraph (3) of section 15610b) is amended by striking out "804(a)(4)" and inserting in lieu thereof "804(a)(3)'^. (8) AMENDMENTS OF SECTION 1402.— (A) The last paragraph of section 1402(a) of the Internal Revenue Code of 1954 (definition of net earnings from selfemployment) is amended by striking out "subsection (i)" each place it appears and inserting in lieu thereof "subsection (h)". (B) Section 1402(c)(6) of such Code (definition of trade or business) is amended by striking out "subsection (h)" and inserting in lieu thereof "subsection (g)". (9) AMENDMENT TO SECTION 46(a).—Subparagraph (C) of section 1901(b)(1) of the Tax Reform Act of 1976 is amended by striking

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26 USC 311.

26 USC 311 "ote. 26 USC 453.

26 USC 801. 26 USC 805. 26 USC 1033. 26 USC 1375. 26 USC 1561. 26 USC 1402. •

26 USC 46.

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