Page:United States Statutes at Large Volume 98 Part 1.djvu/1054

 98 STAT. 1006

PUBLIC LAW 98-369—JULY 18, 1984 "(ii) the amount payable under paragraph (1) to such person for such vehicle shall be the applicable fraction of the diesel fuel differential amount. "(B) APPLICABLE FRACTION.—For purposes of subpara-

graph (A), the applicable fraction is the fraction determined in accordance with the following table: "If the model year of the vehicle is: 1984 or 1985 1983 1982 1981 1980 1979

The applicable fraction is: 1 % Ye % % V f e

In the case of a 1978 or earlier model year vehicle, the applicable fraction shall be zero. "(7) BASIS REDUCTION.—For the purposes of subtitle A, the

basis of any qualified diesel-powered highway vehicle shall be reduced by the amount payable under this subsection with respect to such vehicle." (d) TECHNICAL AND CONFORMING AMENDMENTS.— (1) AMENDMENTS TO HIGHWAY TRUST FUND.— (A) TRANSFERS TO MASS TRANSIT ACCOUNT.—Paragraph (2)

26 USC 9503.

of Section 9503(e) (relating to transfers to Mass Transit Account) is amended to read as follows: "(2) TRANSFERS TO MASS TRANSIT ACCOUNT.—The Secretary of

the Treasury shall transfer to the Mass Transit Account the mass transit portion of the amounts appropriated to the Highway Trust Fund under subsection (b) which are attributable to taxes under sections 4041 and 4081 imposed after March 31, 1983. For purposes of the preceding sentence, the term 'mass transit portion' means an amount determined at the rate of 1 cent for each gallon with respect to which tax was imposed under section 4041 or 4081." (B) INCOME TAX CREDITS PAYABLE OUT OF HIGHWAY TRUST

FUND.—Clause (ii) of section 9503(c)(2)(A) is amended by striking out "used before October 1, 1988" and inserting in lieu thereof "used before October 1, 1988 (or with respect to qualified diesel-powered highway vehicles purchased before January 1, 1988)". (2) CONFORMING AMENDMENTS TO INCOME TAX CREDIT —

26 USC 39.

26 USC 6427. Ante, p. 1005.

(A) Subsections (a)(4) and (b) of section 39 (as in effect before the enactment made by title IV of this Act) are each amended by striking out "6427(i)" and inserting in lieu thereof "6427(j)". (B) Subsections (a), 0)X1), (c), (d), (e)(D, and (f)(1) of section 6427 are each amended by striking out "(i)" and inserting in lieu thereof "(j)". (C) Subsection (h)(1) of section 6427 (as redesignated by subsection (c)) is amended— (i) by striking out "or (f)" and inserting in lieu thereof "(f), or (g)", and (ii) by striking out "fuel used" each place it appears and inserting in lieu thereof "fuel used (or a qualified diesel powered highway vehicle purchased)". (D) Subsection (h)(2)(A) of section 6427 (as so redesignated) is amended—

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