98 STAT. 3472
CONCURRENT RESOLUTION S — J U N E 29, 1984
(167) In clause (iii) of section 6166(b)(9)(B) of the Code, as added by section 1021 of the bill, insert before the period at the end of the first sentence "for purposes of clause (ii)". (168) In clause (i) of section 1034(c)(2)(B) of the bill, strike out "account of interest" and insert in lieu thereof "number of units". (169) In clause (iii) of section 1034(c)(2)(B) of the bill, strike out "amount of interests" and insert in lieu thereof "number of units". (170) In subsection (j) of section 51 of the Code, as added by subsection (c) of section 1041 of the bill— (A) strike out "allowable under section 44B" in paragraph (1) thereof and insert in lieu thereof "under this section", and (B) strike out "allowed under section 44B" in paragraph (2) thereof and insert in lieu thereof "determined under this section". (171) In paragraph (1) of section 1072(c) of the bill, strike out "section 6056(c) and insert in lieu thereof "section 6053(c)". (172) In section 1079 of the bill, strike out all that follows the parenthetical material and insert in lieu thereof ", as amended by section 2813 of the bill, is amended by striking out subparagraph (A) thereof and inserting in lieu thereof the following: "(A) is exempt from Federal income taxes— "(i) under such Act as amended and supplemented before the date of the enactment of the Tax Reform Act of 1984, or "(ii) under this title without regard to any provision of law which is not contained in this title and which is not contained in a revenue Act, or (173) Section 217 of the bill is amended by adding at the end thereof the following new subsection: "(n) SPECIAL RULE FOR COMPANIES USING N E T LEVEL RESERVE METHOD FOR NONCANCELLABLE ACCIDENT AND HEALTH INSURANCE
CONTRACTS.—A company shall be treated as meeting the requirement of section 807(d)(3)(A)(iii) of the Internal Revenue Code of 1954, as amended by this Act, with respect to any noncancellable accident and health insurance contract for any taxable year if such company— "(1) uses the net level reserve method to compute its tax reserves under section 807 of such Code on such contracts for such taxable year, "(2) was using the net level reserve method to compute its statutory reserves on such contracts as of December 31, 1982, and "(3) has continuously used such method for computing such reserves on such contracts after December 31, 1982, and through such taxable year." (174) In section 521 of the bill redesignate subsection (d) as subsection (e) and insert after subsection (c) the following new subsection: "(d) CERTAIN DISTRIBUTION REQUIREMENTS TO APPLY TO 5-PERCENT OWNERS RATHER THAN KEY EMPLOYEES.—Section 72(m)(5) (relating
to penalties applicable to certain amounts received by owneremployees) is amended— "(1) by striking out 'key employee' each place it appears in subparagraph (A) and inserting in lieu thereof '5-percent owner'; "(2) by striking out 'in a top-heavy plan' in clause (i) of subparagraph (A), and
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