Ill STAT. 1070 PUBLIC LAW 105-34—AUG. 5, 1997 made under the plan but for the provisions of subsection (c)(7)(A)(i)(I).". (2) ERISA AMENDMENT.— Section 302(b)(2) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1082(b)(2)) is amended by striking "and" at the end of subparagraph (C), by striking the period at the end of subparagraph (D) and inserting ", and", and by inserting after subparagraph (D) the following: "(E) the amount necessary to amortize in equal annual installments (until fully amortized) over a period of 20 years the contributions which would be required to be made under the plan but for the provisions of subsection (c)(7)(A)(i)(I).". (3) CONFORMING AMENDMENTS. — (A) Section 412(c)(7)(D) is amended by adding "and" at the end of clause (i), by striking ", and" at the end of clause (ii) and inserting a period, and by striking clause (iii). (B) Section 302(c)(7)(D) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1082(c)(7)(D)) is amended by adding "and" at the end of clause (i), by striking ", and" at the end of clause (ii) and inserting a period, and by striking clause (iii). 26 USC 412 note. (d) EFFECTIVE DATES. — (1) IN GENERAL.— The amendments made by this section shall apply to plan years beginning after December 31, 1998. (2) SPECIAL RULE FOR UNAMORTIZED BALANCES UNDER EXISTING LAW.— The unamortized balance (as of the close of the plan year preceding the plan's first year beginning in 1999) of any amortization base established under section 412(c)(7)(D)(iii) of such Code and section 302(c)(7)(D)(iii) of such Act (as repealed by subsection (c)(3)) for any plan year beginning before 1999 shall be amortized in equal annual installments (until fully amortized) over a period of years equal to the excess of— (A) 20 years, over (B) the number of years since the amortization base was established. SEC. 1522. SPECIAL RULES FOR CHURCH PLANS. (a) IN GENERAL. —Section 414(e)(5) (relating to special rules for chaplains and self-employed ministers) is amended— (1) by striking "not eligible to participate" in subparagraph (C) and inserting "not otherwise participating", and (2) by adding at the end the following new subparagraph: "(E) EXCLUSION. —In the case of a contribution to a church plan made on behalf of a minister described in subparagraph (A)(i)(II), such contribution shall not be included in the gross income of the minister to the extent that such contribution would not be so included if the minister was an employee of a church.". 26 USC 414 note. (b) EFFECTIVE DATE. —The amendments made by this section shall apply to years beginning after December 31, 1997. SEC. 1523. REPEAL OF APPLICATION OF UNRELATED BUSINESS INCOME TAX TO ESOPS. (a) IN GENERAL.—Section 512(e) is amended by adding at the end the following new paragraph:
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