94 STAT. 212 92 Stet. 2836. 26 USC 280C. 92 Stat. 2842.
26 USC 103 note.
PUBLIC LAW 96-222—APR. 1, 1980 (iv) The second subsection designated as subsection (d) of section 322 of the Revenue Act of 1978 is amended by striking out "our" in paragraph (1)(A) thereof and inserting in lieu thereof "out". (g) AMENDMENT RELATED TO SECTION 337 OF THE ACT.—SubseC-
tion (a) of section 337 of the Revenue Act of 1978 (relating to disposition of amounts generated by advance refunding of certain governmental obligations) is amended by striking out "or a refund profit" and inserting in lieu thereof' of a refund profit".
92 Stat. 2844.
(9) AMENDMENT RELATING TO SECTION 345 OF THE ACT.—SubseC-
26 USC 1244 ^°^-
tion (e) of section 345 of the Revenue Act of 1978 (relating to effective date for small business corporation stock provision) is amended to read as follows: "(e) EFFECTIVE DATES.—
"(1) IN GENERAL.—Except as provided in paragraph (2), the amendments made by this section shall apply to stock issued after November 6, 1978. "(2) SUBSECTION (b).—The amendments made by subsection (b) shall apply to taxable years beginning after December 31, 1978. "(3) TRANSITIONAL RULE FOR SUBSECTION (b).—In the case of a taxable year which includes November 6, 1978, the amendments made by subsection (b) shall apply with respect to stock issued after such date." 92 Stat. 2847.
(IQ) AMENDMENTS RELATED TO SECTION 361 OF THE ACT.—
26 USC 274.
(A) OTHER CLUBS.—Subparagraph (C) of section 274(a)(2) (relating to special rule for country clubs) is amended by striking out "country". (B) CLERICAL AMENDMENT.—Subsection (b) of section 361 of the Revenue Act of 1978 is amended— (i) by striking out "section 274(2)" and inserting in lieu thereof "section 274(a)", and (ii) by striking out "COUNTRY" in the subsection heading.
26 USC 274 note.
(C) USE OF FACILITIES IN CASE OF INDEPENDENT CONTRACTORS, ETC.—
26 USC 74.
(i) IN GENERAL.—Subsoction (a) of section 274 of the Internal Revenue Code of 1954 (relating to disallowance of certain entertainment, etc., expenses) shall not apply to expenses paid or incurred by the taxpayer for goods, services, and facilities to the extent that the expenses are includible in the gross income of a recipient of the entertainment, amusement, or recreation who is not an employee of the taxpayer as compensation for services rendered or as a prize or award under section 74 of such Code. (ii) INFORMATION RETURN REQUIREMENT.—Clause (i)
26 USC 6031.
shall not apply to any amount paid or incurred by the taxpayer if such amount is required to be included in any information return filed by such taxpayer under part III of subchapter A of chapter 61 of such Code and is not so included. (iii) APPLICATION OF SUBPARAGRAPH.—This subpara-
graph shall only apply with respect to expenses paid or incurred during 1979 or 1980. 92 Stat. 2848.
26 USC 860 note.
(H) AMENDMENTS RELATED TO SECTION 362 OF THE ACT.—
(A) Subsection (e) of section 362 of the Revenue Act of 1978 (relating to effective date for deficiency dividend procedure
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