118 STAT. 1187 PUBLIC LAW 108–311—OCT. 4, 2004 ‘‘(II) in the case of property manufactured, constructed, or produced for such user’s or person’s own use, the manufacture, construction, or produc tion of such property began at any time on or before September 10, 2001.’’. (B) Clause (ii) of section 168(k)(2)(D) is amended by inserting ‘‘clause (iii) and’’ before ‘‘subparagraph (A)(ii)’’. (b) AMENDMENTS RELATED TO SECTION 102 OF THE ACT.— (1) Subparagraph (H) of section 172(b)(1) is amended by striking ‘‘a taxpayer which has’’. (2) In the case of a net operating loss for a taxable year ending during 2001 or 2002— (A) an application under section 6411(a) of the Internal Revenue Code of 1986 with respect to such loss shall not fail to be treated as timely filed if filed before November 1, 2002, (B) any election made under section 172(b)(3) of such Code may (notwithstanding such section) be revoked before November 1, 2002, and (C) any election made under section 172(j) of such Code shall (notwithstanding such section) be treated as timely made if made before November 1, 2002. (3) Section 102(c)(2) of the Job Creation and Worker Assist ance Act of 2002 (Public Law 107–147) is amended by striking ‘‘before January 1, 2003’’ and inserting ‘‘after December 31, 1990’’. (4)(A) Subclause (I) of section 56(d)(1)(A)(i) is amended by striking ‘‘attributable to carryovers’’. (B) Subclause (I) of section 56(d)(1)(A)(ii) is amended— (i) by striking ‘‘for taxable years’’ and inserting ‘‘from taxable years’’, and (ii) by striking ‘‘carryforwards’’ and inserting ‘‘carryovers’’. (c) AMENDMENTS RELATED TO SECTION 301 OF THE ACT.— (1) Subparagraph (D) of section 1400L(a)(2) is amended— (A) by striking ‘‘subchapter B’’ and inserting ‘‘sub chapter A’’, and (B) in clause (ii), by striking ‘‘subparagraph (B)’’ and inserting ‘‘this paragraph’’. (2) Subparagraph (D) of section 1400L(b)(2) is amended by inserting ‘‘, and clause (iv) thereof shall be applied by substituting ‘qualified New York Liberty Zone property’ for ‘qualified property’ ’’ before the period at the end. (3) Subsection (c) of section 1400L is amended by adding at the end the following new paragraph: ‘‘(5) ELECTION OUT.—For purposes of this subsection, rules similar to the rules of section 168(k)(2)(C)(iii) shall apply.’’. (4) Paragraph (2) of section 1400L(f) is amended by inserting before the period ‘‘, determined without regard to subparagraph (C)(i) thereof’’. (d) AMENDMENT RELATED TO SECTION 405 OF THE ACT.—The last sentence of section 4006(a)(3)(E)(iii)(IV) of the Employee Retire ment Income Security Act of 1974 (29 U.S.C. 1306(a)(3)(E)(iii)(IV)) is amended— (1) by inserting ‘‘or this subparagraph’’ after ‘‘this clause’’ both places it appears, and Applicability. 26 USC 1400L. 26 USC 56 note. 26 USC 172 note. 26 USC 172.
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