Page:United States Statutes at Large Volume 98 Part 1.djvu/934

 98 STAT. 886 Ante, p. 877.

26 USC 132 note.

Ante, p. 877.

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PUBLIC LAW 98-369—JULY 18, 1984 for purposes of paragraphs (1) and (2) of section 132(a) (but not for purposes of section 132(g)(2)), all employees of any line of business of the employer which was in existence on January 1, 1984, shall be treated as employees of the line of business referred to in paragraph (2). "(d) PERIOD OF ELECTION.—An election under this section shall apply to the calendar year for which made and all subsequent calendar years unless revoked by the employer. "(e) TREATMENT OF CONTROLLED GROUPS.—All employees treated as employed by a single employer under subsection (b), (c), or (m) of section 414 shall be treated as employed by a single employer for purposes of this section." (2) CLERICAL AMENDMENT.—The table of sections for chapter 43 is amended by adding at the end thereof the following new item: "Sec. 4977. Tax on certain fringe benefits provided by an employer." (f) DETERMINATION OF LiNE OF BUSINESS IN C A S E OF AFFILIATED GROUP OPERATING RETAIL DEPARTMENT STORES.—If—

(1) as of October 5, 1983, the employees of one member of an affiliated group (as defined in section 1504 of th^ Internal Revenue Code of 1954 without regard to subsections (b)(2) and (b)(4) thereof) were entitled to employee discounts at the retail department stores operated by another member of such affiliated group, and (2) the primary business of the affiliated group is the operation of retail department stores, then, for purpose of applying section 132(a)(2) of the Internal Revenue Code of 1954, with respect to discounts provided for such employees at the retail department stores operated by such other member, the employer shall be treated as engaged in the same line of business as such other member. (g) MORATORIUM ON ISSUANCE OF REGULATIONS RELATING TO FACULTY HOUSING.—

(1) IN GENERAL.—Any regulation providing for the inclusion in gross income under section 61 of the Internal Revenue Code of 1954 of the excess (if any) of the fair market value of qualified campus lodging over the greater of— (A) the operating costs paid or incurred in furnishing such lodging, or (B) the rent received for such lodging, shall not be issued before January 1, 1986. (2) QUALIFIED CAMPUS LODGING.—For purposes of this subsection, the term "qualified campus lodging" means lodging which •;•:,•,. w. is— (A) located on (or in close proximity to) a campus of an educational institution (described in section 170(b)(l)(A)(ii) of the Internal Revenue Code of 1954), and (B) provide by such institution to an employee of such institution, or to a spouse or dependent (within the meaning of section 152 of such Code) of such employee. (3) APPLICATION OF SUBSECTION.—This subsection shall apply with respect to lodging furnished after December 31, 1983, and before January 1, 1986. 26 USC 132 note. (h) EFFECTIVE DATE.—The amendments made by this section shall take effect on January 1, 1985.

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