Page:United States Statutes at Large Volume 96 Part 2.djvu/1004

 96 STAT. 2366 95 Stat. 186. notY^ ^^^^ 26 USC 1 note.

95 Stat. 176.

95 Stat. 186. note^ ^^^^ 95 Stat. 188. 26 USC 402.

95 Stat. 190.

PUBLIC LAW 97-448—JAN. 12, 1983 "(ii) section 102(a)(2) of the Economic Recovery Tax Act of 1981. "^^^ SPECIAL RULE FOR TAX IMPOSED BY SECTION 402 (e).—The tax imposed by subsection (e) of section 402 shall be treated as a tax imposed by section 1." (3) EUMINATION OF 50-CENT ROUNDING ERRORS.—If any figure

in any table— (A) which is set forth in section 1 of the Internal Revenue Code of 1954 (as amended by section 101 of the Economic Recovery Tax Act of 1981), and (B) which applies to married individuals filing separately or to estates and trusts, differs by not more than 50 cents from the correct amount under the formula used in constructing such table, such figure is hereby corrected to the correct amount, (aa) AMENDMENT RELATED TO SECTION 102.—Clause (ii) of section 102(b)(l)(B) of the Economic Recovery Tax Act of 1981 is amended by striking out "qualified net capital gain" and inserting in lieu thereof "qualified net capital gain (or, if lesser, the alternative minimum taxable income within the meaning of section 55(b)(l) of such Code)". (b) AMENDMENT RELATED TO SECTION 104.—Subparagraph (C) of section 402(e)(l) (relating to imposition of separate tax on lump sum distributions) is amended by striking out "$2,300" and inserting in lieu thereof "the zero bracket amount applicable to such an individual for the teixable year". (c) AMENDMENTS RELATED TO SECTION 111.— (1) CLARIFICATION OF LIMITATION ON BENEFIT.—Subsection (d)

26 USC 911.

of section 911 (relating to citizens or residents of the United States living abroad) is amended by redesignating paragraph (7) as paragraph (8) and by inserting after paragraph (6) the following new paragraph: "(7) AGGREGATE BENEFIT CANNOT EXCEED FOREIGN EARNED

INCOME.—The sum of the amount excluded under subsection (a) and the amount deducted under subsection (c)(3)(A) for the taxable year shall not exceed the individual's foreign earned income for such year." (2) TECHNICAL AMENDMENT.—Clause (ii) of section 911(c)(3)(B) (relating to special rules where housing expenses not provided by employer) is amended by striking out "subsection (a)(D" and inserting in lieu thereof "subsection (a)". 95 Stat. 197.

26 USC 1034

95 Stat. 197.

26 USC 129.

(d) AMENDMENT RELATED TO SECTION 1 2 2. — S u b s e c t i o n (c) of SeC-

tion 122 of the Economic Recovery Tax Act of 1981 (relating to effective date for increase in rollover period for principal residence) is amended by adding at the end thereof the following new sentences: "Notwithstanding the preceding sentence, the taxpayer may elect to have the amendments made by this section not apply to any old residence sold or exchanged on or before August 13, 1981. Such an election shall be made at such time and in such manner as the Secretary of the Treasury or his delegate shall by regulations prescribe." (e) AMENDMENTS RELATED TO SECTION 1 2 4. — (1) BENEFITS MUST BE NONDISCRIMINATORY.—

(A) Subsection (d) of section 129 (defining dependent care assistance program) is amended by redesignating paragraphs (2) through (6) as paragraphs (3) through (7), respec-

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