Page:United States Statutes at Large Volume 98 Part 1.djvu/573

 PUBLIC LAW 98-369—JULY 18, 1984

98 STAT. 525

in the amendments made by section 216(a) of the Tax Equity and Fiscal Responsibility Act of 1982.

96 Stat. 470.

(13) SPECIAL RULE FOR SERVICE CONTRACTS NOT INVOLVING TAXEXEMPT ENTITIES.—In the case of a service contract or other

arrangement described in section 7701(e) of the Internal Revenue Code of 1954 (as added by this section) with respect to which no party is a tax-exempt entity, such section 7701(e) shall not apply to— (A) such contract or other arrangement if such contract or other arrangement was entered into before November 5, 1983, or (B) any renewal or other extension of such contract or other arrangement pursuant to an option contained in such contract or other arrangement on November 5, 1983.

Ante, p. 518.

(14) PROPERTY LEASED TO SECTION 593 ORGANIZATIONS.—For

purposes of the amendment made by subsection (f), paragraphs (1), (2), and (4) shall be applied by substituting— (A) "November 5, 1983" for "May 23, 1983" and "November 1, 1983", as the case may be, and (B) "organization described in section 593 of the Internal Revenue Code of 1954" for "tax-exempt entity". (15) SPECIAL ENTITIES—

RULES

RELATING

TO

FOREIGN

PERSONS OR

(A) IN GENERAL.—In the case of tax-exempt use property which is used by a foreign person or entity, the amendments made by this section shall not apply to any property which— (i) is placed in service by the taxpayer before January 1, 1984, and (ii) is used by such foreign person or entity pursuant to a lease entered into before January 1, 1984. (B) SPECIAL RULE FOR SUBLEASES.—If tax-exempt use property is being used by a foreign person or entity pursuant to a sublease under a lease described in subparagraph (A)(ii), subparagraph (A) shall apply to such property only if such property was used before January 1, 1984, by any foreign person or entity pursuant to such lease. (C) BINDING CONTRACTS, ETC.—The amendments made by this section shall not apply with respect to any property (other than aircraft described in subparagraph (D)) leased to a foreign person or entity— (i) i f (I) on or before May 23, 1983, the taxpayer (or a predecessor in interest under the contract) or the foreign person or entity entered into a written binding contract to acquire, construct, or rehabilitate such property and such property had not previously been used by the foreign person or entity, or (II) the taxpayer or the foreign person or entity acquired the property or completed the construction, reconstruction, or rehabilitation of the property after December 31, 1982 and on or before May 23, 1983, and (ii) if such lease is pursuant to a written binding contract entered into before January 1, 1984, which

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