PUBLIC LAW 96-222—APR. 1, 1980
94 STAT. 209
(B) CLERICAL AMENDMENTS TO SPECIAL RULES FOR ENERGY PROPERTY.—
(i) Subsection (a) of section 46 (relating to amount of investment credit) is amended by redesignating paragraph (10) as paragraph (9). (ii) Clause (i) of section 46(a)(9)(B) (as redesignated by clause (i)) is amended to read as follows: "(i) paragraph (3)(B) shall be applied by substituting '100 percent' for the percentage determined under the table contained in such paragraph,". (iii) Clause (ii) of section 46(a)(9)(B) (as so redesignated) is amended by striking out "(7), (8), and (9)" and inserting in lieu thereof "(7) and (8)". (iv) Subsection (d) of section 6401 is amended by striking out "46(a)(10)(C)" and inserting in lieu thereof "46(a)(9)(C)". (3) AMENDMENT RELATED TO SECTION 313 OF THE ACT.—Subparagraph (B) of section 46(c)(5) (relating to applicable percentage in the case of certain pollution control facilities) is amended by adding at the end thereof the following new sentence: "This subparagraph shall not apply for purposes of applying the energy percentage, (4) AMENDMENTS RELATED TO SECTION 315 OF THE ACT.—
26 USC 46.
26 USC 6401. 92 Stat. 2826. 26 USC 46.
92 Stat. 2828.
(A) CREDIT ALLOWED TO NONCORPORATE LESSORS.—Para-
graph (3) of section 46(e) (relating to special rule for noncor- 26 USC 46. porate lessors) is amended by adding at the end thereof the following new sentence: "This paragraph shall not apply with respect to any property which is treated as section 38 property by reason of section 48(a)(1)(E)." (B) COORDINATION WITH ENERGY PROPERTY.—Clause (i) of
section 48(g)(2)(B) is amended by striking out "subsection 26 USC 48. (a)(1)(E)" and inserting in lieu thereof "subsections (a)(1)(E) and(l))". (5) AMENDMENT RELATED TO SECTION 3 1 6 OF THE ACT.—Sections 92 Stat. 2829. 50B(f) and 52(f) (and the predecessor of section 52(f), section 52(h)) 26 USC 50B, 52. are each amended by striking out "section 46(e)" and inserting in lieu thereof "subsections (e) and (h) of section 46". (6) AMENDMENTS RELATED TO SECTION 321 OF THE ACT.— 92 Stat. 2830. (A) EXTENSION OF TERMINATION DATE.—Paragraph (4) of
section 51(c) (relating to termination) is amended by striking 26 USC 51. out "December 31, 1980" and inserting in lieu thereof "December 31, 1981". (B) EFFECTIVE DATE FOR PROVISION MAKING NEW JOBS CREDIT ELECTIVE.—Subsection (d) of section 321 of the Reve-
nue Act of 1978 (relating to effective dates) is amended by adding at the end thereof the following new paragraph: "(5) SUBSECTION (b).—The amendments made by subsection 0^) shall apply to taxable years beginning after December 31, 1976." (C) CLARIFICATION OF EFFECTIVE DATE.—Subparagraph (A) of section 321(d)(2) of the Revenue Act of 1978 (relating to special rules for newly targeted groups) is amended by inserting ", for purposes of applying the amendments made by this section" after "newly targeted group". (D) CLARIFICATION OF TRANSITIONAL RULE.—Paragraph (3) of section 321(d) of the Revenue Act of 1978 (relating to transitional rule) is amended to read as follows: "(3) TRANSITIONAL RULE.—In the case of a taxable year which begins in 1978 and ends after December 31, 1978, the amount of
92 Stat. 2830. 26 USC 44B note, 26 USC 51 note,
26 USC 51 note,
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