Page:United States Statutes at Large Volume 98 Part 1.djvu/543

 PUBLIC LAW 98-369—JULY 18, 1984 Subtitle B—Tax-Exempt Entity Leasing Sec. 31. Denial of tax incentives for property leased to governments and other taxexempt entities. Sec. 32. Motor vehicle operating leases. Subtitle C—Treatment of Bonds and Other Debt Instruments Sec. 41. Treatment of bonds and other debt instruments. Sec. 42. Technical and conforming amendments related to original issue discount changes. Sec. 43. Technical and conforming amendments related to treatment of market discount and acquisition discount. Sec. 44. Effective dates. Subtitle D—Corporate Provisions PART I—LIMITATIONS ON DIVIDENDS RECEIVED DEDUCTION

Sec. 51. Dividends received deduction reduced where portfolio stock is debt financed. Sec. 52. Treatment of dividends from regulated investment companies. PART II—TREATMENT OF CERTAIN DISTRIBUTIONS

Sec. 53. Corporate shareholder's basis in stock reduced by nontaxed portion of extraordinary dividends. Sec. 54. Distribution of appreciated property by corporations. Sec. 55. Extension of holding period for losses attributable to capital gain dividends of regulated investment companies or real estate investment trusts. PART III—MISCELLANEOUS PROVISIONS

Sec. 56. Denial of deductions for certain expenses incurred in connection with short sales. Sec. 57. Nonrecognition of gain or loss by corporation on options with respect to its stock. Sec. 58. Amendments to accumulated earnings tax. Sec. 59. Repeal of stock for debt exception for purposes of determining income from discharge of indebtedness. Sec. 60. Affiliated group defined. Sec. 61. Provisions relating to earnings and profits. Sec. 62. 2-year delay in application of the net operating loss rules added by the Tax Reform Act of 1976. Sec. 63. Target corporation must distribute assets after reorganization described in section 368(a)(l)(C). Sec. 64. Definition of control for purposes of nondivisive reorganizations under section 368(a)(l)(D). Sec. 65. Collapsible corporations. Sec. 66. Phsise-out of graduated rates for large corporations. Sec. 67. Restrictions on golden parachute payments. Sec. 68. Increase in reduction in certain corporate preference items from 15 percent to 20 percent. Sec. Sec. Sec. Sec.

71. 72. 73. 74.

Sec. 75. Sec. 76. Sec. 77. Sec. 78. Sec. 79.

Subtitle E—Partnership Provisions Partnership allocations with respect to contributed property. Determination of distributive shares when partner's interest changes. Payments to partners for property or certain services. Contributions to a partnership of unrealized receivables, inventory items, or capital loss property. Transfers of partnership and trust interests by corporations. Application of section 751 in the case of tiered partnerships. Section 1031 not applicable to partnership interests; limitation on the period during which like kind exchanges may be made. Elimination of basis strips under section 734(b). Overruling of Raphan case.

Subtitle F—Trust Provisions Sec. 81. Treatment of property distributed in kind. Sec. 82. Treatment of multiple trusts. Subtitle G—Accounting Changes Sec. 91. Certain amounts not treated as incurred before economic performance. Sec. 92. Treatment of certain deferred payments for use of property or services.

98 STAT. 495

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