Page:United States Statutes at Large Volume 96 Part 2.djvu/1038

 96 STAT. 2400

Ante, p. 1683. 26 USC 221. 26 USC 4975.

PUBLIC LAW 97-448—JAN. 12, 1983 "(B) AFFECTED SHAREHOLDER.—For purposes of subparagraph (A), the term 'affected shareholder' means any shareholder to whom a distribution is made by the S corporation during the taxable year." (3) Subsection (d) of section 1374 (relating to determination of taxable income) is amended by striking out "subsections (a)(2) and (bK2)" and inserting in lieu thereof "this section". (4) Subparagraph (B) of section 221(b)(l) is amended by striking out "(9),". (5) The last sentence of section 4975(d) is amended by striking out "section 1379" and inserting in lieu thereof "section 1379, as in effect on the day before the date of the enactment of the Subchapter S Revision Act of 1982". (e) AMENDMENT RELATED TO MISCELLANEOUS REVENUE ACT OF

^^"TT'^R iT?o• 26 USC 7448 note

1982.—Subsection (c) of section 105 of the Miscellaneous Revenue Act of 1982 is amended by striking out "the amendment made by subsection (a)" and inserting in lieu thereof "the amendment made by subsection (b)". SEC. 306. TECHNICAL AMENDMENTS TO THE REVENUE PROVISIONS OF THE TAX EQUITY AND FISCAL RESPONSIBILITY ACT OF 1982.

Ante, p. 411.

26 USC 56 note. 26 USC 55.

(a) AMENDMENTS RELATED TO TITLE IL— (1) AMENDMENTS RELATED TO SECTION 2 0 1. —

(A) Section 201 of the Tax Equity and Fiscal Responsibility Act of 1982 is amended— (i) by redesignating the second subsection (c) as subsection (d), and (ii) by striking out "subsection (c)(D" in subsection (e)(2) and inserting in lieu thereof "subsection (d)(D". (B) Clause (ii) of section 55(e)(5)(B) (defining qualified investment income) is amended by striking out "net capital gain" and inserting in lieu thereof "capital gain net income". (C) Subparagraph (B) of section 55(d)(2) (relating to adjustments to net operating loss computation) is amended by striking out "subparagraph (A)" and inserting in lieu thereof "paragraph (1)".

Ante, p. 423.

(2) AMENDMENT RELATED TO SECTION 2 0 4. — Paragraph (1) o f

26 USC 291.

section 291(a) (relating to 15-percent reduction for certain preference items) is amended by adding at the end thereof the following new sentence: "Under regulations prescribed by the Secretary, the provisions of this paragraph shall not apply to the disposition of any property to the extent section 1250(a) does not apply to such disposition by reason of section 1250(d)."

Ante. p. 427.

(3) AMENDMENT RELATED TO SECTION 2 0 5. — Paragraph (3) of

26 USC 48.

Ante, p. 432.

26 USC 168 note.

section 48(q) (relating to basis adjustment to section 38 property) is amended by striking out "paragraphs (1) and (2)" and inserting in lieu thereof "paragraphs (1) and (2) of this subsection and paragraph (5) of subsection (d)". (4) AMENDMENTS RELATED TO SECTION 208.—

(A) Subsection (d) of section 208 of such Act is amended— (i) by striking out "described in section 1381(a)" in paragraph (3)(E)(i) and inserting in lieu thereof "engaged in the furnishing of electric energy to persons in rural areas", and

�