Ill STAT. 896 PUBLIC LAW 105-34—AUG. 5, 1997 "(g) APPLICATION OF SECTION TO SALES OF STOCK IN AGRICUL- TURAL REFINERS AND PROCESSORS TO ELIGIBLE FARM COOPERA- TIVES.— "(1) IN GENERAL. —T his section shall apply to the sale of stock of a qualified refiner or processor to an eligible farmers' cooperative. "(2) QUALIFIED REFINER OR PROCESSOR.—For purposes of this subsection, the term 'qualified refiner or processor' means a domestic corporation— "(A) substantially all of the activities of which consist of the active conduct of the trade or business of refining or processing agricultural or horticultural products, and "(B) which, during the 1-year period ending on the date of the sale, purchases more than one-half of such products to be refined or processed from— "(i) farmers who make up the eligible farmers' cooperative which is purchasing stock in the corporation in a transaction to which this subsection is to apply, or "(ii) such cooperative. "(3) ELIGIBLE FARMERS' COOPERATIVE. —For purposes of this section, the term 'eligible farmers' cooperative' means an organization to which part I of subchapter T applies and which is engaged in the marketing of agricultural or horticultural products. "(4) SPECIAL RULES.— In applying this section to a sale to which paragraph (1) applies— "(A) the eligible farmers' cooperative shall be treated in the same manner as a cooperative described in subsection (b)(1)(B), "(B) subsection (b)(2) shall be applied by substituting
- 100 percent' for '30 percent' each place it appears,
"(C) the determination as to whether any stock in the domestic corporation is a qualified security shall be made without regard to whether the stock is an employer security or to subsection (c)(1)(A), and "(D) paragraphs (2)(D) and (7) of subsection (c) shall not apply.". 26 USC 1042 (b) EFFECTIVE DATE. —The amendment made by this section note. shall apply to sales after December 31, 1997. SEC. 969. INCREASED DEDUCTIBILITY OF BUSINESS MEAL EXPENSES FOR INDIVIDUALS SUBJECT TO FEDERAL HOURS OF SERVICE. (a) IN GENERAL.—Section 274(n) (relating to only 50 percent of meal and entertainment expenses allowed as deduction) is amended by adding at the end the following new paragraph: " (3) SPECIAL RULE FOR INDIVIDUALS SUBJECT TO FEDERAL HOURS OF SERVICE.— "(A) IN GENERAL.— In the case of any expenses for food or beverages consumed while away from home (within the meaning of section 162(a)(2)) by an individual during, or incident to, the period of duty subject to the hours of service limitations of the Department of Transportation, paragraph (1) shall be applied by substituting 'the applicable percentage' for '50 percent'.
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