Page:United States Statutes at Large Volume 91.djvu/1386
91 STAT. 1352 26 USC 507 note. 26 USC 507, '^^'^l-
PUBLIC LAW 95-170—NOV. 12, 1977
SEC. 3. In determining whether a person is a substantial contributor within the meaning of section 507(d)(2) of the Internal Revenue Code of 1954 for purposes of applying section 4941 of such Code (relating to taxes on self-dealing), contributions made before October 9, 1969, which— (1) were made on account of or in lieu of payments required under a lease in effect before such date, and (2) were coincident with or by reason of the reduction in the required payments under such lease, shall not be taken into account. For purposes of applying section 507(d)(2)(B) (iv) of such Code, the preceding sentence shall be treated as having taken effect on January 1, 1970. Approved November 12, 1977.
LEGISLATIVE HISTORY: HOUSE REPORT No. 95-422 (Comm. on Ways and Means). SENATE REPORT No. 95-433 (Comm. on Finance). CONGRESSIONAL RECORD, Vol. 123 (1977): July 18, considered and passed House. Sept. 21, considered and passed Senate, amended. Oct. 25, House concurred in certain Senate amendments, in No. 7 with an amendment. Oct. 27, Senate concurred in House amendment.