104 STAT. 1388-514 PUBLIC LAW 101-508—NOV. 5, 1990 SEC. 11702. AMENDMENTS RELATED TO TECHNICAL AND MISCELLANE- OUS REVENUE ACT OF 1988. (a) AMENDMENTS RELATED TO SECTION 1006. — (1) Paragraph (5) of section 367(a) is amended by striking "section 361" and inserting "subsection (a) or QD) of section 361". (2) Subsection (d) of section 453B is amended to read as follows: "(d) EXCEPTION FOR DISTRIBUTIONS TO WHICH SECTION 337(a) AP- PUES.— Subsection (a) shall not apply to any distribution to which section 337(a) applies." (b) AMENDMENTS RELATED TO SECTION 1008. — (1) Subparagraph (B) of section 447(g)(4) is amended to read as follows: "(B) QUALIFIED FARMING TRADE OR BUSINESS.— "(i) IN GENERAL. —The term 'qualified farming trade or business' means the trade or business of farming— "(I) sugar cane, "(II) any plant with a preproductive period (as defined in section 263A(e)(3)) of 2 years or less, and "(III) any other plant (other than any citrus or almond tree) if an election by the corporation under this subparagraph is in effect. In the case of a partnership and for purposes of paragraph (3)(A), subclauses (II) and (III) shall not apply. "(ii) EFFECT OF ELECTION.— For purposes of paragraphs (1) and (2) of section 263A(e), any election under this subparagraph shall be treated as if it were an election under subsection (d)(3) of section 263A. "(iii) ELECTION.— Unless the Secretary otherwise consents, an election under this subparagraph may be made only for the corporation's 1st taxable year which begins after December 31, 1986, and during which the corporation engages in a farming business. Any such election, once made, may be revoked only with the consent of the Secretary." (2) Subparagraph (A) of section 447(g)(1) is amended by striking "qualified farming trade or business" and inserting "trade or business of farming^'. (c) AMENDMENT RELATED TO SECTION 1012. —Subsection (b) of section 6114 is amended by striking "by regulations". (d) AMENDMENTS RELATED TO SECTION 1014. — (1) Subparagraph (B) of section 59(j)(l) is amended by inserting "(or, if greater, the child's share of the unused parental minimum tax exemption)" before the period at the end thereof. (2) Subsection (j) of section 59 is amended by adding at the end thereof the following new paragraph: "(3) UNUSED PARENTAL MINIMUM TAX EXEMPTION. — "(A) IN GENERAL.—For purposes of this subsection, the term 'unused parental minimum tax exemption' means the excess (if any) of— "(i) the exemption amount applicable to the parent under section 55(d), over "(ii) the parent's alternative minimum taxable income. "(B) CERTAIN RULES MADE APPLICABLE.— A child's share of any unused parental minimum tax exemption shall be
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