118 STAT. 1448 PUBLIC LAW 108–357—OCT. 22, 2004 (1) IN GENERAL.—Subsection (d) of section 39 is amended to read as follows: ‘‘(d) TRANSITIONAL RULE.—No portion of the unused business credit for any taxable year which is attributable to a credit specified in section 38(b) or any portion thereof may be carried back to any taxable year before the first taxable year for which such speci fied credit or such portion is allowable (without regard to subsection (a)).’’. (2) EFFECTIVE DATE.—The amendment made by paragraph (1) shall apply with respect to taxable years ending after December 31, 2003. (c) CONFORMING AMENDMENTS.— (1) Section 38(b) (relating to general business credit) is amended by striking ‘‘plus’’ at the end of paragraph (14), by striking the period at the end of paragraph (15) and inserting ‘‘, plus’’, and by adding at the end the following new paragraph: ‘‘(16) the railroad track maintenance credit determined under section 45G(a).’’. (2) Subsection (a) of section 1016 is amended by striking ‘‘and’’ at the end of paragraph (27), by striking the period at the end of paragraph (28) and inserting ‘‘, and’’, and by inserting after paragraph (28) the following new paragraph: ‘‘(29) in the case of railroad track with respect to which a credit was allowed under section 45G, to the extent provided in section 45G(e)(3).’’. (d) CLERICAL AMENDMENT.—The table of sections for subpart D of part IV of subchapter A of chapter 1 is amended by inserting after the item relating to section 45F the following new item: ‘‘Sec. 45G. Railroad track maintenance credit.’’. (e) EFFECTIVE DATE.—The amendments made by this section shall apply to taxable years beginning after December 31, 2004. SEC. 246. SUSPENSION OF OCCUPATIONAL TAXES RELATING TO DIS TILLED SPIRITS, WINE, AND BEER. (a) IN GENERAL.—Subpart G of part II of subchapter A of chapter 51 is amended by redesignating section 5148 as section 5149 and by inserting after section 5147 the following new section: ‘‘SEC. 5148. SUSPENSION OF OCCUPATIONAL TAX. ‘‘(a) IN GENERAL.—Notwithstanding sections 5081, 5091, 5111, 5121, and 5131, the rate of tax imposed under such sections for the suspension period shall be zero. During such period, persons engaged in or carrying on a trade or business covered by such sections shall register under section 5141 and shall comply with the recordkeeping requirements under this part. ‘‘(b) SUSPENSION PERIOD.—For purposes of subsection (a), the suspension period is the period beginning on July 1, 2005, and ending on June 30, 2008.’’. (b) CONFORMING AMENDMENT.—Section 5117 is amended by adding at the end the following new subsection: ‘‘(d) SPECIAL RULE DURING SUSPENSION PERIOD.—Except as provided in subsection (b) or by the Secretary, during the suspension period (as defined in section 5148) it shall be unlawful for any dealer to purchase distilled spirits for resale from any person other than a wholesale dealer in liquors who is required to keep records under section 5114.’’. 26 USC 38 note. 26 USC 39 note.
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