PUBLIC LAW 99-514—OCT. 22, 1986
100 STAT. 2221
(3) by inserting " o r option" after "stock" and " o r the disposition of such stock" after "options" in clause (iii). (b) EFFECTIVE D A T E. — The amendments m a d e by this section shall apply to positions established on or after January 1, 1987.
TITLE IV^AGRICULTURE, ENERGY, AND NATURAL RESOURCES Subtitle A—Agriculture SEC. 401. LIMITATION ON EXPENSING OF SOIL AND WATER CONSERVATION EXPENDITURES.
(a) GENERAL RULE.—Subsection (c) of section 175 (relating to soil and w a t e r conservation expenditures) is amended by adding a t the end thereof the following new paragraph: .:
V.: '.";
"(3) ADDITIONAL LIMITATIONS.— "(A) EXPENDITURES MUST BE CONSISTENT WITH SOIL CONSERVATION P L A N. — Notwithstanding any other provision of
this section, subsection (a) shall not apply to any expenditures unless such expenditures a r e consistent with— "(i) the plan (if any) approved by the Soil Conservation Service of the Department of Agriculture for the a r e a in which the land is located, or "(ii) if the r e is no plan described in clause (i), any soil conservation plan of a comparable State agency. "(B) CERTAIN WETLAND, ETC., ACTIVITIES NOT Q U A U F I E D. —
Subsection (a) shall not apply to any expenditures in connection with the d r a i n i n g or filling of wetlands or land preparation for center pivot irrigation systems." (b) EFFECTIVE DATE.—The amendment m a d e by this section shall apply to a m o u n t s paid or incurred after December 31, 1986, in taxable years ending after such date. SEC. 402. REPEAL OF SPECIAL TREATMENT FOR EXPENDITURES FOR CLEARINC; LAND.
(a) IN GENERAL.—Section 182 (relating to expenditures by farmers for clearing land) is hereby repealed. (b) TECHNICAL AMENDMENTS. —
(1) Paragraph (1) of section 263(a) (relating to capital expenditures) is amended by striking o u t subparagraph (E) and by redesignating subparagraph s (F), (G), and (H) as subparagraph s (E), (F), and (G), respectively. (2) Subparagraph (A) of section 1252(a)(1) (relating to gain from disposition of farm land) is amended by striking out "(relating to expenditures by farmers for clearing land)" and inserting in lieu thereof "(as in effect on the day before the date of the e n a c t m e n t of the T a x Reform Act of 1986)". (3) The table of sections for part VI of subchapter B of chapter 1 is amended by striking out the item relating to section 182. (c) EFFECTIVE DATE.—The amendments m a d e by this section shall apply to a m o u n t s paid or incurred after December 31, 1985, in taxable years ending after such date.
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