PUBLIC LAW 103-465—DEC. 8, 1994 108 STAT. 5011 (B) returns for taxable years beginning in 1996 with respect to individuals who are born after November 30, 1996. note. SEC. 743. EXTENSION OF INTEKNAL REVENUE SERVICE USER FEES. Subsection (c) of section 10511 of the Revenue Act of 1987 26 USC 7801 (relating to fees for requests for ruling, determination, and similar letters) is amended by striking "October 1, 1995" and inserting "October 1, 2000". SEC. 744. MODIFICATION OF SUBSTANTIAL UNDERSTATEMENT PEN- ALTY FOR CORPORATIONS PARTICIPATING IN TAX SHEL- TE31S. (a) IN GENERAL. — Subparagraph (C) of section 6662(d)(2) (relating to special rules in cases involving tax shelters) is amended by redesignating clause (iL) as clause (iii) and by inserting after clause (i) the following new clause: " (ii) SUBPARAGRAPH (B) NOT TO APPLY TO CORPORA- TIONS.^-Subparagraph (B) shall not apply to any item of a corporation which is attributable to a tax shelter." (b) TECHNICAL AMENDMENTS.— (1) Clause (i) of section 6662(d)(2)(C) is amended by striking "In the case of any item" and inserting "In the case of any item of a taxpayer otiier than a corporation which is". (2) Clause (iii) of section 6662(d)(2)(C), as redesignated by subsection (a), is amended by striking "clause (i)" and inserting "this subparagraph". (c) EFFECTIVE DATE. —The amendments made by this section 26 USC 6662 shall apply to items related to transactions occurring after the "°**' date of the enactment of this Act. SEC. 745. MODIFICATION OF AUTHORITY TO SET TERMS AND CONDI- TIONS FOR SAVINGS BONDS. (a) IN GENERAL.— Subsection (b) of section 3105 of title 31, United States Code, is amended to read as follows: "(b)(1) The Secretary may— "(A) fix the investment yield for savings bonds; and "(B) change the investment yield on an outstanding savings bond, except that the yield on a bond for the period held may not be decreased below the minimum yield for the period guaranteed on the date of issue. "(2) The Secretary may prescribe regulations providing that— "(A) owners of savings bonds may keep the bonds after maturity or after a period beyond maturity during which the bonds have earned interest and continue to earn interest at rates consistent with paragraph (1) of this subsection; and "(B) savings bonds earning a different rate of interest before the regulations are prescribed shall earn a rate of interest consistent with paragraph (1)." (b) EFFECTIVE DATE. —The amendment made by this section 3i use 3105 shall apply to bonds issued after October 31, 1994. ^°^-
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