Page:United States Statutes at Large Volume 94 Part 1.djvu/272

 94 STAT. 222

PUBLIC LAW 96-222—APR. 1, 1980 (b) EFFECTIVE D A T E. —

Post, p. 228.

For general effective date, see section 201. SEC. 107. AMENDMENTS RELATED TO TITLE VIL (a) IN GENERAL. —

92 Stat. 2897.

(1) AMENDMENTS RELATED TO SECTION 701 OF THE ACT.— (A) COMPUTATION

26 USC 57.

26 USC 911 note.

OF ADJUSTED ITEMIZED DEDUCTIONS IN

CASE OF ESTATES AND TRUSTS.—Subparagraph (C) of section 570b)(2) (relating to special rules for estates and trusts) is amended by striking out "section 170(c)(2)(B)" each place it appears and inserting in lieu thereof "section 170(c) (determined without regard to section 170(c)(2)(A))". (B) EFFECTIVE DATE FOR PROVISION RELATING TO FOREIGN

26 USC 911.

TAXES ATTRIBUTABLE TO SECTION 911 EXCLUSION.—Subparagraph (B) of section 701(u)(10) of the Revenue Act of 1978 (relating to effective date) is amended to read as follows: "(B) EFFECTIVE DATE.—The amendment made by subparagraph (A) shall apply to taxable years beginning in calendar year 1978 but only in the case of taxpayers who make an election under section 209(c) of the Foreign Earned Income

26 USC 911 note.

Act of 1978." (C) ALLOCATION O F ITEMS O F TAX PREFERENCE I N THE CASE

26 USC 58.

26 USC 1250.

OF ESTATES AND TRUSTS.—Paragraph (1) of section 58(c) (relating to estates and trusts) is amended by striking out "on the basis of the income of the estate or trust allocable to each" and inserting in lieu thereof "in accordance with regulations prescribed by the Secretary". (D) AMENDMENT OF SECTION 1250.—The last sentence of section 1250(a)(1)(B) (relating to gain from disposition of certain depreciable property) is amended by inserting before the period at the end thereof the following: "which was allowed under section 167(k)". (E) CLERICAL AMENDMENTS.—

26 USC 37. 26 USC 191. 92 Stat. 2925.

26 USC 1014. 26 USC 2613.

S???^J;.... 26 USC 1016.

(i) Paragraph (3) of section 701(a) of the Revenue Act of 1978 is amended by striking out "Subsection (c)" and inserting in lieu thereof "Subsection (e)". (ii) Subparagraph (C) of section 191(f)(2) is amended by striking out "the date o f and inserting in lieu thereof "the date". (2) AMENDMENTS RELATED TO SECTION 702 OF THE ACT.—

(A) Paragraph (3) of section 1014(a) is amended by striking out "section 2032.1" and inserting in lieu thereof "section 2032 A" (B)(i)'Clause (i) of section 2613(e)(2)(A) is amended by inserting "(other than as a potential appointee under a power of appointment held by another)" after "the trust". (ii) Subparagraph (B) of section 2613(e)(2) is amended— (I) by inserting after clause (ii) the following new clause: "(iii) an employee of the grantor or of any beneficiary,". (II) by striking out clause (vi), by redesignating clauses (iii), (iv), and (v) as clauses (iv), (v), and (vi), respectively, and (III) by inserting "or" at the end of clause (vi) (as so redesignated). (C) Paragraph (3) of section 702(r) of the Revenue Act of 1978 ig hereby repealed.

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