Page:United States Statutes at Large Volume 94 Part 3.djvu/767

 PUBLIC LAW 96-589—DEC. 24, 1980

94 STAT. 3411

(A) by striking out "in bankruptcy or receivership proceedings" and inserting in lieu thereof "in cases under title 11 of the United States Code or in receivership proceedings", and n USC lOl (B) by striking out "BANKRUPTCY OR RECEIVERSHIP PRO- ^'*^^-

CEEDiNGs" in the subsection heading and inserting in lieu thereof "CASES UNDER TITLE 11 OF THE UNITED STATES CODE O IN RECEIVERSHIP PROCEEDINGS". R

(9) Paragraph (1) of section 6216 (relating to cross references) is 26 USC 6216. amended to read as follows: "(1) For procedures relating to receivership proceedings, see subchapter B of chapter 70."

(10)(A) Section 6326 (relating to cross references) is amended by 26 USC 6326. striking out paragraphs (2), (3), (4), and (5) and inserting in lieu thereof the following: "(2) For exclusion of tax liability from discharge in cases under title 11 of the United States Code, see section 523 of such title 11. "(3) For recognition of tax liens in cases under title 11 of the United States Code, see sections 545 and 724 of such title 11. "(4) For collection of taxes in connection with plans for individuals with regular income in cases under title 11 of the United States Code, see section 1328 of such title 11."

(B) Section 6326 is amended by redesignating paragraphs (6) and (7) as paragraphs (5) and (6), respectively. (11) Paragraph (2) of section 6503(i) (relating to cross refer- 26 USC 6503. ences) is amended to read as follows: "(2) Receiverships, see subchapter B of chapter 70."

(12) Section 6872 (relating to suspension period on assessment) 26 USC 6872. is amended by striking out "any proceeding under the Bankruptcy Act" and by inserting in lieu thereof "any case under title 11 of the United States Code". (13) Section 7430 (as amended by this Act) is amended by 26 USC 7430. inserting after paragraph (1) the following new paragraphs: "(2) For exclusion of tax liability from discharge in cases under title 11 of the United States Code, see section 523 of such title 11. "(3) For recognition of tax liens in cases under title 11 of the United States Code, see sections 545 and 724 of such title 11. "(4) For collection of taxes in connection with plans for individuals with regular income in cases under title 11 of the United States Code, see section 1328 of such title 11."

(14) Paragraph (1) of section 7508(d) is amended by striking out 26 USC 7508. "BANKRUPTCY AND RECEIVERSHIPS" in the paragraph heading and

inserting in lieu thereof "CASES UNDER TITLE i i OF THE UNITED STATES CODE AND RECEIVERSHIPS".

SEC. 7. EFFECTIVE DATES. (a) For section 2 (Relating to Tax Treatment of Discharge of Indebtedness). — (1) IN GENERAL.—Except as provided in paragraph (2), the amendments made by section 2 shall apply to any transaction which occurs after December 31, 1980, other than a transaction which occurs in a proceeding in a bankruptcy case or similar judicial proceeding (or in a proceeding under the Bankruptcy Act) commencing on or before December 31, 1980. (2) TRANSITIONAL RULE.—In the case of any discharge of indebtedness to which subparagraph (A) or (B) of section 108(a)(1) of the Internal Revenue Code of 1954 (relating to exclusion from gross income), as amended by section 2, applies and which occurs before January 1, 1982, or which occurs in a proceeding in a

26 USC 108 note. Ante, p. 3S89.

H USC note ^^^^' ^^^' Ante, p. 3389.

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