85 STAT.]
PUBLIC LAW 92-178-DEC. 10, 1971
529
SEC. 315. INDUSTRIAL DEVELOPMENT BONDS. (a) ISSUES FOR WATER FACILITIES.—Section 103(c)(4)
(relating
82 Stat. 2 6 6. 26 USC 1 0 3.
to certain exempt activities) is amended— (1) by striking out in subparagraph (E) "energy, gas, or water, or" and by inserting in lieu thereof "energy or gas,"; (2) by striking out the period at the end of subparagraph (F) and inserting in lieu thereof ", or"; and (3) by adding at the end thereof the following: " (G) facilities for the furnishing of water, if available on reasonable demand to members of the general public." (b) CERTAIN CAPITAL EXPENDITURES.—Section 103(c)(6)(F) (iii) «2 Stat. 1349 (relating to exception of certain capital expenditures for purposes of the $5,000,000 limit) is amended by striking out "$250,000" and inserting in lieu thereof "$1,000,000". (c) EFFECTIVE DATES.—The amendments made by subsection (a) shall apply with respect to obligations issued after January 1, 1969. The amendment made by subsection (b) shall apply with respect to expenditures incurred after the date of the enactment of this Act. SEC. 316. DISCLOSURE OR USE OF INFORMATION BY PREPARERS OF RETURNS. (a) CRIMINAL PENALTY.—Part I of subchapter A of chapter 75 (relating to crimes) is amended by adding at the end thereof the following new section: "SEC. 7216. DISCLOSURE OR USE OF INFORMATION BY PREPARERS OF RETURNS. " (a) GENERAL RULE.—Any person who is engaged in the business of preparing, or providing services in connection with the preparation of, returns of the tax imposed by chapter 1, or declarations or amended declarations of estimated tax under section 6015, or any person who for compensation prepares any such return or declaration for any other person, and who— "(1) discloses any information furnished to him for, or in connection with, the preparation of any such return or declaration, or "(2) uses any such information for any purpose other than to prepare, or assist in preparing, any such return or declaration, shall be guilty of a misdemeanor, and, upon conviction thereof, shall be fined not more than $1,000, or imprisoned not more than 1 year, or both, together with the costs of prosecution. " (b) EXCEPTIONS.—
"(1) DISCLOSURE.—Subsection (a) shall not apply to a disclosure of information if such disclosure is made— " (A) pursuant to any other provision of this title, or " (B) pursuant to an order of a court. "(2) USE.—Subsection (a) shall not apply to the use of information in the preparation of, or in connection with the preparation of. State and local tax returns and declarations of estimated tax of the person to whom the information relates. "(3) REGULATIONS.—Subsection (a) shall not apply to a disclosure or use of information which is permitted by regulations prescribed by the Secretary or his delegate under this section." (b) CLERICAL AMENDMENT.—The table of contents for part I of subchapter A of chapter 75 is amended by adding at the end thereof the following new item: "Sec. 7216. Disclosure or use of information by preparers of returns."
68A Stat. 8 5 1. 26 USC 7201.
P^^aity Ante,
p. 517,
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