PUBLIC LAW 109–135—DEC. 21, 2005
119 STAT. 2623
‘‘(3) SUBSECTION (d).—The amendment made by subsection (d) shall apply to transactions entered into after December 31, 2004. ‘‘(4) SUBSECTION (f).— ‘‘(A) The amendment made by paragraph (1) of subsection (f) shall apply to failures with respect to which the requirements of subparagraph (A) or (B) of section 856(c)(7) of the Internal Revenue Code of 1986 (as added by such paragraph) are satisfied after the date of the enactment of this Act. ‘‘(B) The amendment made by paragraph (2) of subsection (f) shall apply to failures with respect to which the requirements of paragraph (6) of section 856(c) of the Internal Revenue Code of 1986 (as amended by such paragraph) are satisfied after the date of the enactment of this Act. ‘‘(C) The amendments made by paragraph (3) of subsection (f) shall apply to failures with respect to which the requirements of paragraph (5) of section 856(g) of the Internal Revenue Code of 1986 (as added by such paragraph) are satisfied after the date of the enactment of this Act. ‘‘(D) The amendment made by paragraph (4) of subsection (f) shall apply to taxable years ending after the date of the enactment of this Act. ‘‘(E) The amendments made by paragraph (5) of subsection (f) shall apply to statements filed after the date of the enactment of this Act.’’. (e) AMENDMENTS RELATED TO SECTION 244 OF THE ACT.— (1) Paragraph (2) of section 181(d) is amended by striking the last sentence in subparagraph (A), by redesignating subparagraph (B) as subparagraph (C), and by inserting after subparagraph (A) the following new subparagraph: ‘‘(B) SPECIAL RULES FOR TELEVISION SERIES.—In the case of a television series— ‘‘(i) each episode of such series shall be treated as a separate production, and ‘‘(ii) only the first 44 episodes of such series shall be taken into account.’’. (2) Subparagraph (C) of section 1245(a)(2) is amended by inserting ‘‘181,’’ after ‘‘179B,’’. (f) AMENDMENTS RELATED TO SECTION 245 OF THE ACT.— (1) Subsection (b) of section 45G is amended to read as follows: ‘‘(b) LIMITATION.— ‘‘(1) IN GENERAL.—The credit allowed under subsection (a) for any taxable year shall not exceed the product of— ‘‘(A) $3,500, multiplied by ‘‘(B) the sum of— ‘‘(i) the number of miles of railroad track owned or leased by the eligible taxpayer as of the close of the taxable year, and ‘‘(ii) the number of miles of railroad track assigned for purposes of this subsection to the eligible taxpayer by a Class II or Class III railroad which owns or leases such railroad track as of the close of the taxable year.
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