90 STAT. 3052
CONCURRENT RESOLUTIONS—SEPT. 16, 1976 (10) Paragraph (1) of section 408(d) (relating to tax treatment of distributions) is amended by striking out the second sentence and inserting in lieu thereof the following: "Notwithstanding any other provision of this title (including chapters 11 and 12), the basis any person in such an account or annuity is zero." (61) I n subparagraph (A) of section 1504(c)(2) of the Code (as added by section 1507(a) of the bill) strike out all after "subsection (a) " and insert in lieu thereof the following: "except that no such company shall be so treated until it has been a member of the aifiliated group for the 5 taxable years immediately preceding the taxable year for which the consolidated return is filed"'. (62) I n section 1901(d) of the bill, add at the end thereof the following new sentence: "The amendments made by subsections (a) (29) and (b) (10) shall apply with respect to taxable years ending after the date of the enactment of this Act." (63) I n section 6323(b) (as amended by section 1906(a) (29) (A) of the bill), strike out "with in claim" and insert "with the (64)' In section 1033(g)(3)(D) of the Code (as added by section 2301(a) of the bill)— (A) strike out "section" and insert in lieu thereof "subsection", (B) insert "(and treated by the taxpayer as real property) " after "subparagraph (C)", and (C) strike out "similar or related in service or use to" and insert in lieu thereof "of a like kind as". (65) In section 2303(b) of the bill, strike out "before that date" and insert in lieu thereof "on or before that date". (66) I n section 2601(e)(2) of the bill, strike out "described" and insert in lieu thereof "prescribed". (67) In section 1372(e)(1)(A) of the Code (as added by section 2714(c) of the bill) strike out "60th day after" and insert in lieu thereof "60th day after the day on". (68) In subsection (b) of section 1606 of the bill, strike out "is amended by adding at the end" and insert ", as amended by section 1901(a) (29)(A)(i), is amended by inserting after subparagraph (D)", and strike out " (I) " in the amendment made by such subsection and insert " (E) ". (69) In section 1606(d) of the bill, strike out paragraph (1) and redesignate paragraph (2) as subsection (d). (70) In paragraph (2) of section 1608(d) of the bill, strike out "paragraph (3) " and insert "subparagraph (C)". (71) In the heading for section 185(e)(3) of the Code (as added by section 1702(a) of the bill) strike out "March 1, 1969" and insert in lieu thereof "March 1, 1913". (72) I n section 1901(a) (29)(A) of the bill, strike out clauses (ii) and (iii) and redesignate clause (iv) as clause (ii). (73) I n section 1901(a) (99) of the bill, insert ", other than the last sentence thereof, as added by section 806(d)(1)(A) of this Aci" " lf)p^orp
IS RIHGHQGCI
(74) In section 1901(b)(8)(A) of the bill, strike out " (B). and 117(b)(2)(B)". (75) In section 1503(c) of the Code (as added by section 1507(a)(3) of the bill) strike out paragraph (2) and insert in lieu thereof the following: "(2) LOSSES OF RECENT NONLIFE AFFILIATES.—Notwithstanding
the provisions of paragraph (1), a net operating loss for a taxable year of a member of the group not taxed under section 802 shall not be taken into account in determining the taxable income
�
