Page:United States Statutes at Large Volume 93.djvu/1307

 PUBLIC LAW 96-167—DEC. 29, 1979

93 STAT. 1275

Public Law 96-167 96th Congress An Act To continue through May 31, 1981, the existing prohibition on the issuance of fringe benefit regulations, and for other purposes.

Dec. 29, 1979 [H.R. 5224]

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled.

Fringe benefit

SECTION

1. PROHIBITION OF ISSUANCE REGULATIONS.

OF FRINGE

regulations, BENEFIT prohibition.

Section 1 of the Act entitled "An Act to prohibit the issuance of regulations on the taxation of fringe benefits, and for other purposes", approved October 7, 1978 (Public Law 95-427), is amended by 26 USC 6i note, striking out "December 31, 1979" each place it appears and inserting in lieu thereof "May 31, 1981". SEC. 2. COMMUTING EXPENSES.

Section 2 of the Act entitled "An Act to prohibit the issuance of regulations on the taxation of fringe benefits, and for other purposes", approved October 7, 1978 (Public Law 95-427), is amended by 26 USC 62 note. striking out "December 31, 1979" and inserting in lieu thereof "May 31, 1981". SEC. 3. STATE LEGISLATORS' TRAVEL EXPENSES AWAY FROM HOME. (a) GENERAL RULE.—Subsection (a) of section 604 of the Tax Reform

Act of 1976 (relating to State legislators' travel expenses away from 26 USC 162 note. home)isamended(1) by striking out "who elects the application" and inserting in lieu thereof "who, for the taxable year, elects the application", and (2) by striking out "January 1, 1978" and inserting in lieu thereof "January 1, 1981". (b) TECHNICAL AMENDMENT.—Effective for taxable years beginning after December 31, 1977, subsection (d) of section 604 of the Tax Reform Act of 1976 is amended by striking out the last sentence. SEC. 4. PAYMENT OF INTEREST WHERE LEVY HAS BEEN WRONGFULLY MADE AND MONEY RECEIVED BY UNITED STATES.

(a) IN GENERAL.—Section 6343 of the Internal Revenue Code of 1954 26 USC 6343. (relating to release of lew and return of proper^) is amended by adding at the end thereof the following new subsection: "(c) INTEREST.—Interest shall be allowed and paid at an annual rate established under section 6621— 26 USC 6621. "(1) in a case described in subsection 03X2), from the date the Secretary receives the money to a date (to be determined by the Secretary) preceding the date of return by not more than 30 days, ^ -" or "(2) in a case described in subsection 0>X3), from the date of the sale of the property to a date (to be determined by the Secrets^) preceding the date of return by not more than 30 days." (b) TECHNICAL AMENDMENT.—Subsection (a) of section 6621 of such Code is amended to read as follows:

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