Page:United States Statutes at Large Volume 98 Part 1.djvu/551

 PUBLIC LAW 98-369—JULY 18, 1984

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Subtitle H—Additional Provisions 1071. Tax treatment of regulated investment companies. 1072. Technical modifications to tip reporting requirements. 1073. Tips treated as wages for purposes of Federal unemployment tax. 1074. Exclusion of certain services from the Federal Unemployment Tax Act. 1075. Taxation of unemployment compensation not to apply to compensation paid for weeks of unemployment ending before December 1, 1978. 1076. Exclusion from gross income of cancellations of certain student loans. 1077. Migratory bird hunting stamps. 1078. Exclusion from gross income of payments from the United States Forest Service as a result of restricting motorized traffic in the boundary waters canoe area. 1079. Tax exemption of corporations organized under Acts of Congress.

98 STAT. 503 " ?

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Subtitle I—Studies Sec. 1081. Study of alternative income tax systems. Sec. 1082. Study of taxation by foreign countries on services performed in the United States.

Subtitle A—Deferral of Certain Tax Reductions PART I—INCOME TAX PROVISIONS SEC. 11. AMOUNT OF USED PROPERTY ELIGIBLE FOR INVESTMENT TAX CREDIT.

(a) GENERAL RULE,—Subparagraph (A) of section 48(c)(2) (relating 26 USC 48. to dollar limitation on amount of used section 38 property) is amended— (1) by striking out "$150,000 ($125,000 for taxable years beginning in 1981, 1982, 1983, or 1984)" and inserting in lieu thereof "$125,000 ($150,000 for taxable years beginning after 1987)", and (2) by striking out "$150,000 (or $125,000" each place it appears and inserting in lieu thereof "$125,000 (or $150,000^'. (b) TECHNICAL AMENDMENT.—Subparagraph (B) of section 48(c)(2) is amended by striking out "$75,000 ($62,500 for taxable years beginning in 1981, 1982, 1983, or 1984)" and inserting in lieu thereof "$62,500 ($75,000 for taxable years beginning after 1987)". SEC. 12. FINANCE LEASE PROVISIONS. (a) FOUR-YEAR DEFERRAL OF FINANCE LEASE PROVISIONS.—

(1) IN GENERAL.—Subparagraph (A) of section 209(d)(l) of the Tax Equity and Fiscal Responsibility Act of 1982 is amended by 26 USC 168 note. striking out "December 31, 1983" and inserting in lieu thereof "December 31, 1987". (2) FINANCE LEASE PROVISIONS CONTINUE TO APPLY TO FARM

PROPERTY.—Clause (i) of section 209(d)(l)(B) of such Act is 26 USC 168 note. amended by striking out "January 1, 1984" and inserting in lieu thereof "January 1, 1988". (3) TECHNICAL AMENDMENTS.—

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(A) Subclause (I) of section 168(f)(8)(B)(ii) (relating to re- 26 USC 168. quirement that only 40 percent of lessee's property may be treated as qualified), as amended by section 209 of the Tax Equity and Fiscal Responsibility Act of 1982, is amended by striking out "1986" and inserting in lieu thereof "1990. (B) Paragraph (4) of section 168(i) (relating to limitations), as so amended, is amended by striking out "1985" each place it appears and inserting in lieu thereof "1989".

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