98 STAT. 3458
CONCURRENT RESOLUTION S — J U N E 29, 1984 (33) In the table contained in section 467(e)(3)(A) of the Code (as added by section 92(a)), after the item relating to "10-year property", insert the following new item: "Low-income housing
15 years."
(34) In clause (ii) of section 92(c)(2)(C) of the bill insert "(for purposes of this clause)" after "assuming" in the matter preceding subclause (I). (35) Strike out the last two sentences of section 92(c)(2) of the bill and insert: "Paragraph (3)(B)(iiXII) shall apply for purposes of clauses (ii) and (iii) of subparagraph (C), as if, as of the beginning of the last stage, the separate agreements were treated as 1 single agreement relating to all property covered by the agreements, including any property placed in service before the property to which the agreement for the last stage relates. If the lessor under the agreement described in subparagraph (C) lesises the property from another person, this exception shall also apply to any agreement between the lessor and such person which is integrally related to, and entered into at the same time as, such agreement, and which calls for comparable payments of rent over the primary term of the agreement," (36) In paragraph (2) of section 195(b) of the Code (as added by section 94(a)), insert "attributable to such trade or business" after "deferred expenses". (37) In paragraph (2) of section 1092(f) of the Code (as added by section 101(c) of the bill), strike out "The holding period" and insert in lieu thereof "Except for purposes of section 851(b)(3), the holding period". (38) Strike out subparagraph (C) of section 1256(g)(4) of the Code (as amended by section 102(a) of the bill) and insert in lieu thereof the following: "(C) is listed on the qualified board or exchange on which such options dealer is registered." (39) In subparagraph (A) of section 211(h)(l) of the Social Security Act, as added by section 102(c)(2) of the bill, insert "activity o f before "dealing in or trading". (40) In subsection (d) of section 102 of the bill, strike out paragraph (3) and insert in lieu thereof the following: "(3) SUBCHAPTER S ELECTION.—If a commodities dealer or an
options dealer— "(A) becomes a small business corporation (as defined in section 1361(b) of the Internal Revenue Code of 1954) at any time before the close of the 75th day after the date of the enactment of this Act, and "(B) makes the election under section 1362(a) of such Code before the close of such 75th day, then such dealer shall be treated as having received approval for and adopted a taxable year beginning on the first day during 1984 on which it was a small business corporation (as so defined) and ending on the date determined under section 1378 of such Code and such election shall be effective for such teixable year." (41) In the subsection heading to subsection (b) of section 106 of the bill, strike out "Business" and insert in lieu thereof "Dealer". (42) In paragraph (2) of section 108(a) of the bill, strike out "such Act" and insert in lieu thereof "the Economic Recovery Tax Act of 1981".
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