PUBLIC LAW 99-514—OCT. 22, 1986
100 STAT. 2171
(e) No RECOMPUTATION OF MINIMUM TAX, ETC.—Nothing in this section shall be construed to affect— (1) the amount of the tax imposed by section 56 of the Internal Revenue Code of 1986, or (2) the amount of any credit allowable under such Code, for any taxable year in the carryback period. (0 REINVESTMENT REQUIREMENT.—
(1) IN GENERAL.—Any amount determined under this section must be committed to reinvestment in, and modernization of the steel industry through investment in modern plant and equipment, research and development, and other appropriate projects, such as working capital for steel operations and programs for the retraining of steel workers. (2) GENERAL RULE.—If this section applies to LTV Corporation, then, in lieu of the requirements of paragraph (1)— (A) such corporation shall place such refund in a separate account; and (B) amounts in such separate account— (i) shall only be used by the corporation— (I) to purchase an insurance policy which provides that, in the event the corporation becomes involved in a title 11 or similar case (as defined in section 368(a)(3)(A) of the Internal Revenue Code of 1954), the insurer will provide life and health insurance coverage during the 1-year period beginning on the date such involvement begins to any individual with respect to whom the corporation would (but for such involvement) have been obligated to provide such coverage the coverage provided by the insurer will be identical to the coverage which the corporation would (but for such involvement) have been obligated to provide, and provides that the payment of insurance premiums will not be required during such 1-year period to keep such policy in force, or (II) directly in connection with the trade or business of the corporation in the manufacturer or production of steel; and (ii) shall be used (or obligated) for purposes described in clause (i) not later than 3 months after the corporation receives the refund, (g) DEFINITIONS.—For purposes of this section— (1) QUALIFIED CORPORATION.—
(A) IN GENERAL.—The term 'qualified corporation" means any corporation which is described in section 806(b) of the Steel Import Stabilization Act and a company which was incorporated on February 11, 1983, in Michigan. (B) CERTAIN PREDECESSORS INCLUDED.—In the case of any qualified corporation which has carr5^orward attributable to a predecessor corporation described in such section 806(b), the qualified corporation and the predecessor corporation shall be treated as 1 corporation for purposes of subsections (d) and (e). (2) EXISTING CARRYFORWARDS.—The term "existing carryforward" means the aggregate of the amounts which— (A) are unused business credit carryforwards to the taxpayer's 1st taxable year beginning after December 31, 1986
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