96 STAT. 326
PUBLIC LAW 97-248—SEPT. 3, 1982 Sec. 192. Use of certain amounts transferred to State unemployment funds. Sec. 193. Treatment of certain employees of institutions of higher education. Sec. 194. Short-time compensation. TITLE II—REVENUE MEASURES Subtitle A—Provisions Relating to Individuals Sec. 201. Alternative minimum tax on taxpayers other than corporations. Sec. 202. Limitation on medical deduction. Sec. 203. Limitation on deduction for nonbusiness casualty losses. Subtitle B—Provisions Primarily Relating to Business PART I—REDUCTION IN CERTAIN DEDUCTIONS AND CREDITS
Sec. Sec. Sec. Sec.
204. 205. 206. 207.
15 percent reduction in certain corporate preference items. Amendments to investment credit. Repeal of 1985 and 1986 increases in accelerated cost recovery deductions. Section 189 made applicable to certain corporations for nonresidential real property. PART II—LEASING
Sec. 208. Limitations and additional requirements on leases under the accelerated cost recovery system. Sec. 209. Repeal of leasing; special rule for leases with economic substance. Sec. 210. Motor vehicle operating leases. PART III—FOREIGN TAX
Sec. 211. Foreign tax credit for taxes on oil and gas income. Sec. 212. Current taxation of foreign oil related income of controlled foreign corporations. Sec. 213. Possession tax credit; income tax liability incurred to the Virgin Islands. PART IV—TAX-EXEMPT OBLIGATIONS
Sec. 214. Modification of exemption for small issues. Sec. 215. Public approval and information reporting requirements applicable to private activity bonds. Sec. 216. Cost recovery for certain property financed with tax-exempt bonds. Sec. 217. Miscellaneous. Sec. 218. Treatment of certain refunding obligations. Sec. 219. Limitation on maturity of industrial development bonds. Sec. 220. Mortgage subsidy bonds. Sec. 221. Industrial development bonds for certain residential rental property PART V—MERGERS AND ACQUISITIONS
Subpart A—Changes in Tax Treatment of Partial Liquidations and of Certain Distributions of Appreciated Property Sec. 222. Partial liquidations. Sec. 223. Distribution of appreciated property in redemption of stock. Subpart B—Certain Stock Purchases Treated as Asset Purchases Sec. 224. Certain stock purchases treated as asset purchases. Sec. Sec. Sec. Sec.
225. 226. 227. 228.
Subpart C—Miscellaneous Provisions Clarification of section 368(a)(l)(F). Amendments relating to bailouts through use of holding companies. Application of attribution rules for purposes of sections 306 and 356(a)(2). Waiver of family attribution by entities. PART VI—METHODS OF ACCOUNTING
Sec. 229. Modification of regulations on the completed contract method of accounting. Sec. 230. Annual accrual method of accounting extended to certain partnerships. PART VII—ORIGINAL ISSUE DISCOUNT
Sec. 231. Original issue discount taken into account on basis of constant interest rate. Sec. 232. Tax treatment of stripped bonds.
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