PUBLIC LAW 99-514—OCT. 22, 1986
100 STAT. 2905
"(B) demolition of at least one such structure at the Baton Rouge facility commenced before January 1, 1984." (i) AMENDMENT RELATED TO SECTION 1065 OF THE ACT.—Subsection
Q>) of section 1065 of the Tax Reform Act of 1984 (relating to rules treating Indian tribal governments as States) is amended by striking out "section 7871" and inserting in lieu thereof "section 7871(a)". (j) AMENDMENTS RELATED TO SECTION 1071 OF THE ACT.—
(1) Subsection (a) of section 852 (relating to taxation of regulated investment companies and their shareholders) is amended by adding "and" at the end of paragraph (1), by striking out paragraph (2), and by redesignating paragraph (3) as paragraph (2). (2) Paragraph (1) of section 8520?) (relating to imposition of tax on regulated investment companies) is amended by striking out the last sentence and inserting in lieu thereof the following: "In the case of a regulated investment company which is a personal holding company (as defined in section 542) or which fails to comply for the taxable year with regulations prescribed by the Secretary for the purpose of ascertaining the actual ownership of its stock, such tax shall be computed at the highest rate of tsix specified in section 110t>)." SEC. 1879. MISCELLANEOUS PROVISIONS.
(a) WAIVER OF ESTIMATED TAX PENALTIES.—No addition to tax shall be made under section 6654 or 6655 of the Internal Revenue Code of 1954 (relating to failure to pay estimated income tax) for any period before April 16, 1985 (March 16, 1985 in the case of a taxpayer subject to section 6655 of such Code), with respect to any underpayment, to the extent that such underpayment was created or increased by any provision of the Teix Reform Act of 1984. (b) AMENDMENTS RELATED TO ORPHAN DRUG CREDIT.—
(1) Clause (ii) of section 280t)X2XA) (defining clinical testing) is amended— (A) by striking out "the date of such drug" in subclause (I) and inserting in lieu thereof "the date such drug", and (B) by striking out "of such Act" in subclause (II) and inserting in lieu thereof "of such Act or, if the drug is a biological product, before the date on which a license for such drug is issued under section 351 of the Public Health Services Act". (2) Paragraph (1) of section 28(d) (defining rare disease or condition) is amended to read as follows: "(1) RARE DISEASE OR CONDITION.—For purposes of this section, the term 'rare disease or condition' means any disease or condition which— "(A) affects less than 200,000 persons in the United States, or "(B) affects more than 200,000 persons in the United States but for which there is no reasonable expectation that the cost of developing and making available in the United States a drug for such disease or condition will be recovered from sales in the United States of such drug. Determinations under the preceding sentence with respect to any drug shall be made on the basis of the facts and circumstances as of the date such drug is designated under section 526 of the Federal Food, Drug, and Cosmetic Act."
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