PUBLIC LAW 96-596—DEC. 24, 1980
94 STAT. 3475
SEC. 3. TREATMENT OF CERTAIN CHARITABLE TRUSTS FOR PURPOSES OF THE MINIMUM TAX.
(a) GENERAL RULE.—Subparagraph (C) of section 570t))(2) (relating 26 USC 57. to treatment of certain charitable contributions of trusts for purposes of the minimum tax) is amended by redesignating clauses (iv) and (v) as clauses (v) and (vi), respectively, and by inserting after clause (iii) the following new clause: "(iv) deductions allowable to a trust— "(I) all the income interests in which are devoted to one or more of the purposes described in section 170(c) (determined without regard to section 170(c)(2)(A)), "(II) all of the interests (other than income interests) in which are held by a corporation, and "(III) the grantor of which is a corporation." (b) EFFECTIVE DATE.—The amendments made by subsection (a) 26 USC 57 note, shall apply to taxable years beginning after December 31, 1975. SEC. 4. EXCISE TAXES ON TIRES. (a) REDUCTIONS IN RATE OF TAX.— (1) IN GENERAL.
(A) Section 4071(a)(1) is amended by striking out "10 cents" and inserting "9.75 cents". (B) Section 4071(a)(2) is amended by striking out "5 cents" and inserting "4.875 cents". (C) Section 4071(d)(1) is amended by striking out "5 cents" and inserting "4.875 cents". (2) EFFECTIVE DATE.—The amendments made by this subsection shall apply on and after January 1, 1981. (b) DETERMINATION OF OVERPAYMENT.— (1) IN GENERAL.—The determination of the extent to which any overpayment of tax imposed by section 4071(a)(1) or (2) or section 4071(b) has arisen by reason of an adjustment of a tire after the original sale pursuant to a warranty or guarantee, and the allowance of a credit or refund of any such overpayment, shall be determined in accordance with the principles set forth in regulations and rulings relating thereto to the extent in effect on March 31, 1978. (2) EFFECTIVE DATE.—This subsection shall apply to the adjustment of any tire after March 31, 1978, and prior to January 1, 1983.
26 USC 4071.
26 USC 4071 "°^26 USC 407i ^°Supra.
(c) TIRES AND INNER TUBES.—
(1) IN GENERAL.—Paragraph (1) of section 6416(b) (relating to 26 USC 6416. price readjustments) is amended to read as follows: "(1) PRICE READJUSTMENTS.—
"(A) IN GENERAL.—Except as provided in subparagraph (B) or (C), if the price of any article in respect of which a tax, based on such price, is imposed by chapter 32, is readjusted 26 USC 4061 et by reason of the return or repossession of the article or a ® ^ ^covering or container, or by a bona fide discount, rebate, or allowance, including a readjustment for local advertising (but only to the extent provided in section 4216(e)(2) and (3)), the part of the tax proportionate to the part of the price repaid or credited to the purchaser shall be deemed to be an overpayment, "(B) FURTHER MANUFACTURE.—Subparagraph (A) shall not apply in the case of an article in respect of which tax was computed under section 4223(b)(2); but if the price for which
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