Page:United States Statutes at Large Volume 97.djvu/459

 PUBLIC LAW 98-76—AUG. 12, 1983 97 STAT. 427 individuals in his employ, equal to the applicable percentage of the total rail wages paid by him during the taxable period. "(b) TAX ON EMPLOYEE REPRESENTATIVES. — "(1) IN GENERAL.—There is hereby imposed on the income of each employee representative a tax equal to the applicable percentage of the rail wages paid to him during the taxable period. "(2) DETERMINATION OF WAGES.—The rail wages of an em- ployee representative for purposes of paragraph (1) shall be determined in the same manner and with the same effect as if the employee organization by which such employee representa- tive is employed were a rail employer. "(c) RATE OF TAX. —For purposes of this section— "(1) FOR TAXABLE PERIOD JULY i THROUGH DECEMBER 3I, 1986.—The applicable percentage for the taxable period begin- ning on July 1, 1986, and ending on December 31, 1986, shall be 2 percent. "(2) SUBSEQUENT TAXABLE PERIODS. —The applicable percent- age for any taxable period beginning after 1986 shall be the sum of— "(A) 2 percent, plus "(B) 0.3 percent for each preceding taxable period. In no event shall the applicable percentage exceed 5 percent. "SEC. 3322. TAXABLE PERIOD. 26 USC 3322. "(a) GENERAL RULE. — For purposes of this chapter, except as provided in subsection (b), the term 'taxable period' means— "(1) the period beginning on July 1, 1986, and ending on December 31, 1986, "(2) each calendar year after 1986 and before 1990, and "(3) the period beginning on January 1, 1990, and ending on September 30, 1990. "(b) EARLIER TERMINATION IF LOANS TO RAIL UNEMPLOYMENT FUND REPAID. —The tax imposed by this chapter shall not apply to any rail wages paid on or ^ter the first January 1 after 1986 as of which there is— "(1) no balance of transfers to the railroad unemployment insurance account under section 10(d) of the Railroad Unem- ployment Insurance Act, and 45 USC 360. "(2) no unpaid interest on such transfers. "SEC. 3323. OTHER DEFINITIONS. 26 USC 3323. "(a) RAIL EMPLOYER.—For purposes of this chapter, the term 'rail employer' means any person who is an employer as defined in section 1 of the Railroad Unemployment Insurance Act. 45 USC 351. "(b) RAIL WAGES.— "(1) IN GENERAL.— For purposes of this chapter, the term 'rail wages' means wages as defined in section 3306(b) with the 26 USC 3306. modifications specified in paragraph (2). "(2) MODIFICATIONS. -In applying subsection (b) of section 3306 for purposes of paragraph (1)— "(A) ONLY RAILROAD EMPLOYMENT TAKEN INTO ACCOUNT. — Such subsection (b) shall be applied— "(i) by substituting 'rail employment' for 'employ- ment' each place it appears, and "(ii) by substituting 'rail employer' for 'employer' each place it appears.

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