Page:United States Statutes at Large Volume 98 Part 1.djvu/889

 PUBLIC LAW 98-369—JULY 18, 1984

98 STAT. 841

applied by substituting 'an amount equal to 50 percent of for 'an amount equal to'." (B) The table of sections for part VI of subchapter B of chapter 1 is amended by striking out the item relating to section 196 and inserting in lieu thereof: "Sec. 196. Deduction for certain unused business credits."

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(9) SECTION 213.—Subsection (e) of section 213 (relating to 26 USC 213. exclusion of amounts allowed for care of certain dependents) is amended by striking out "section 44A" and inserting in lieu thereof "section 21".

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(10) SECTION 280C.—

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(A) Section 280C (relating to certain expenses for which 26 USC 28oe. credits are allowable) is amended by striking out subsection (a) and by redesignating subsections (b) and (c) as subsections (a) and (b), respectively. (B) Subsection (a) of section 280C (as so redesignated) is ^' '^^ '•' amended— (i) by striking out the first sentence and inserting in lieu thereof the following: "No deduction shall be allowed for that portion of the wages or salaries paid or incurred for the taxable year which is equal to the amount of the credit determined for the taxable year under section 51(a).", and Ante, p. 837. (ii) by striking out "SECTION 44B CREDIT" in the

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subsection heading and inserting in lieu thereof "TAR-



GETED J O B S C R E D I T ".

(C) Subsection (b) of section 280C (as so redesignated) is amended by striking out "44H" each place it appears and inserting in lieu thereof "29". (D) Paragraph (3) of section 280C(b) (as so redesignated) is amended— (i) by striking out "section 44F(f)(5)" and inserting in ,j..,j. lieu thereof "section 30(fK5)", (ii) by striking out "section 44F(fKlXB)" and inserting in lieu thereof "section 30(f)(1)(B)", (iii) by striking out "section 44F(f)(l)" and inserting in lieu thereof "section 30(f)(1)". (11) SECTION 381.—Subsection (c) of section 381 is amended— (A) by striking out paragraphs (23), (24), (26), (27), and (30), (B) by redesignating paragraphs (25), (28), and (29) as paragraphs (23), (24), and (25), respectively, - #j' (C) by striking out "44F" each place it appears in paragraph (25) (as so redesignated) and inserting in lieu thereof "30", and (D) by adding at the end thereof the following new paragraph: "(26) CREDIT LENDER SECTION 38.—The acquiring corporation shall take into account (to the extent proper to carry out the purposes of this section and section 38, and under such regulations as may be prescribed by the Secretary) the items required to be taken into account for purposes of section 38 in respect of the distributor or transferor corporation." (12) SECTION 383.— (A) Section 383 (as in effect on the day before the date of the enactment of the Tax Reform Act of 1976) is amended—

,:,.; < . 26 USC 381.

Ante, p. 827.

26 USC 383. 26 USC 1 et seq.

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