102 STAT. 3660
PUBLIC LAW 100-647—NOV. 10, 1988 amount of the tax attributes described in paragraph (2) for such taxable year, then, for purposes of this subsection, the amount excludable under subsection (a) for the succeeding taxable year shall be increased by an amount equal to twice the amount of such excess. "(F) REGULATIONS.—The Secretary shall prescribe such regulations as may be necessary to carry out the provisions of this subsection. (2) AppucATiON OF SECTION 265.—Subparagraph (B) of section 904(c)(2) of the Reform Act is amended by striking out "Section 265(a)(1)" and inserting in lieu thereof "Section 265". (3) EFFECTIVE DATE.—The amendments made by this subsection shall apply to any transfer— (A) after December 31, 1988, and before January 1, 1990, unless such transfer is pursuant to an acquisition occurring before January 1, 1989, and (B) after December 31, 1989, if such transfer is pursuant to an acquisition occurring after December 31, 1988, and before January 1, 1990. In the case of a taxpayer to which the amendments made by subsection (b)(l) applv, subparagraphs (A) and (B) shall be applied by substituting the date of the enactment of this Act" for December 31, 1988^'.
26 USC 597 note. 26 USC 597 note.
TITLE V—REVENUE INCREASE PROVISIONS Subtitle A—Corporate Estimated Taxes
26 USC 6655 note.
SEC. 5001. CORPORATE ESTIMATED TAX PAYMENTS. (a) GENERAL RULE.—Paragraph (1) of section 6655(e) of the 1986 Code (relating to annualization) is amended by striking out the last sentence. (b) EFFECTIVE DATE.—The amendment made by subsection (a) shall apply to installments required to be made after December 31,
1988.
Subtitle B—Insurance Provisions SEC. 5011. LIMITATION ON UNREASONABLE MORTALITY AND OTHER EXPENSE CHARGES UNDER SECTION 7702. (a) GENERAL RULE.—Subparagraph (B) of section 7702(c)(3) of the 1986 Code (relating to guideline premium requirements) is amended by striking out clauses (i) and (ii) and inserting in lieu thereof the following: "(i) reasonable mortality charges which meet the requirements (if any) prescribed in regulations and which (except as provided in regulations) do not exceed the mortality charges specified in the prevailing commissioners' standard tables (as defined in section 807(d)(5)) as of the time the contract is issued, "(ii) any reasonable charges (other than mortality charges) which (on the basis of the company's experi-
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