Page:United States Statutes at Large Volume 96 Part 2.djvu/1015

 PUBLIC LAW 97-448—JAN. 12, 1983

96 STAT. 2377

(B) Subparagraph (C) of section 403(b)(8) (relating to roll- 26 USC 403. over amounts) is amended by striking out "subparagraphs (B), (C)," and inserting in lieu thereof "subparagraphs (B), (C), (D)(v),". (9) ESTATE TAX EXCLUSION.—

(A) Paragraph (1) of section 2039(f) is amended to read as 26 USC 2039. follows: "(1) IN GENERAL.—An amount is described in this subsection if— "(A) it is a lump sum distribution described in section 402(e)(4) (determined without regard to the third sentence of section 402(e)(4)(A)), or "(B) it is an amount attributable to accumulated deductible employee contributions (as defined in section 72(o)(5)(B)) in any plan taken into account for purposes of determining whether the distribution described in subparagraph (A) qualifies as a lump sum distribution." (B) Paragraph (2) of section 2039(f) is amended by striking out "A lump sum distribution" and inserting in lieu thereof "An amount". (10) DEDUCTIBLE EMPLOYEE CONTRIBUTIONS BY OWNER-EMPLOY-

EES PERMITTED.—

(A) The second sentence of section 401(d)(5) is amended to read as follows: "Subparagraphs (A) and (B) shall not apply to contributions described in subsection (e), and shall not apply to any deductible employee contribution (eis defined in section 72(o)(5))." (B) Paragraph (2) of section 4972(b) (relating to contributions by owner-employees) is amended by adding at the end thereof the following new sentence: "No contribution by an owner-employee which is a deductible employee contribution (as defined in section 72(o)(5)) shall be taken into account under this paragraph." (11) EFFECTIVE DATE FOR ESTATE AND GIFT TAX PROVISIONS.— Subsection (i) of section 311 of the Economic Recovery Tax Act of 1981 (relating to effective dates) is amended by adding at the end thereof the following new paragraph:

26 USC 401.

26 USC 4972.

26 USC 219 note. 95 Stat. 274.

"(5) ESTATE AND GIFT TAX PROVISIONS.— "(A) ESTATE TAX.—The amendments

made by subsections (d)(1) and (h)(4) shall apply to the estates of decedents dying after December 31, 1981. "(B) GIFT TAX.—The amendments made by subsections (d)(2) and (h)(5) shall apply to transfers after December 31, 1981."

(12) CLERICAL AMENDMENTS.—

(A) Subparagraph (A) of section 219(b)(2) is amended by striking out "paragraph (1)" and inserting in lieu thereof "paragraph (1))". (B) Subparagraph (D) of section 3401(a)(12) is amended by striking out "section 219(a)" and inserting in lieu thereof "section 219". (C) Subsection (d) of section 6047 is amended by striking .^ut "section 219(a)" and inserting in lieu thereof "section 219". (D) Paragraph (2) of section 311(c) of the Economic Recovery Tax Act of 1981 is amended to read as follows:

26 USC 219. 26 USC 3401. 26 USC 6047.

26 USC 402.

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