Page:United States Statutes at Large Volume 94 Part 3.djvu/855

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PUBLIC LAW 96-000—MMMM. DD, 1980

PUBLIC LAW 96-601—DEC. 24, 1980

94 STAT. 3499

"(c) Nothing in this Act shall prevent the making of payments in lieu of taxes by the State Corporation for services provided in connection with the settlement lands. "DEFERRAL OF CAPITAL GAINS

"SEC. 202. For purposes of the Internal Revenue Code of 1954, any sale or disposition of private settlement lands pursuant to the terms and conditions of the settlement agreement shall be treated as an involuntary conversion within the meaning of section 1033 of the Internal Revenue Code of 1954.". (b) EFFECTIVE DATE.—The amendment made by subsection (a) shall take effect on September 30, 1978. Approved December 24, 1980.

LEGISLATIVE HISTORY: HOUSE REPORT No. 96-545 (Comm. on Ways and Means). SENATE REPORT No. 96-1033 (Comm. on Finance). CONGRESSIONAL RECORD: Vol. 125 (1979): Oct. 30, considered and passed House. Vol. 126 (1980): Dec. 13, considered and passed Senate, amended; House agreed to Senate amendments with amendments; Senate a g r ^ d to House amendments.

25 USC 1716. ^^ ^^ ^• 26 USC 1033. 25 USC 1715 note.