PUBLIC LAW 105-34—AUG. 5, 1997 111 STAT. 1093 (1) AMENDMENT RELATED TO SECTION I90I.— Subsection (b) of section 6048 is amended in the heading by striking "GRANTOR" and inserting "OWNER". (2) AMENDMENTS RELATED TO SECTION 1903. — Clauses (ii) and (iii) of section 679(a)(3)(C) are each amended by inserting ", owner," after "grantor". (3) AMENDMENTS RELATED TO SECTION 1907. — (A) Clause (ii) of section 7701(a)(30)(E) is amended by striking "fiduciaries" and inserting "persons". (B) Subsection (b) of section 641 is amended by adding at the end the following new sentence: "For purposes of this subsection, a foreign trust or foreign estate shall be treated as a nonresident alien individual who is not present in the United States at any time.". (4) EFFECTIVE DATE RELATED TO SUBTITLE I. — The Secretary 26 USC 770i of the Treasury may by regulations or other administrative ^°^^- guidance provide that the amendments made by section 1907(a) of the Small Business Job Protection Act of 1996 shall not apply to a trust with respect to a reasonable period beginning on the date of the enactment of such Act, if— (A) such trust is in existence on August 20, 1996, and is a United States person for purposes of the Internal Revenue Code of 1986 on such date (determined without regard to such amendments), (B) no election is in effect under section 1907(a)(3)(B) of such Act with respect to such trust, (C) before the expiration of such reasonable period, such trust makes the modifications necessary to be treated as a United States person for purposes of such Code (determined with regard to such amendments), and (D) such trust meets such other conditions as the Secretary may require. (j) EFFECTIVE DATE. — 26 USC 23 note. (1) IN GENERAL. —Except as provided in paragraph (2), the amendments made by this section shall take effect as if included in the provisions of the Small Business Job Protection Act of 1996 to which they relate. (2) CERTAIN ADMINISTRATIVE REQUIREMENTS WITH RESPECT TO CERTAIN PENSION PLANS.— The amendment made by subsection (d)(2)(D) shall apply to calendar years beginning after the date of the enactment of this Act. SEC. 1602. AMENDMENTS RELATED TO HEALTH INSURANCE PORT- ABILITY AND ACCOUNTABILITY ACT OF 1996. (a) AMENDMENTS P SLATED TO SECTION 301. — (1) Paragraph (2) of section 26(b) is amended by striking "and" at the end of subparagraph (N), by striking the period at the end of subparagraph (O) and inserting ", and", and by adding at the end the following new subparagraph: "(P) section 220(f)(4) (relating to additional tax on medical savings account distributions not used for qualified medical expenses).". (2) Paragraph (3) of section 220(c) is amended by striking subparagraph (A) and redesignating subparagraphs (B) through (D) as subparagraphs (A) through (C), respectively.
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