Page:United States Statutes at Large Volume 121.djvu/2507

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[121 STAT. 2486]
[121 STAT. 2486]
PUBLIC LAW 110-000—MMMM. DD, 2007

121 STAT. 2486

(B) Section 170(o)(3)(A)(i), and section 2522(e)(2)(A)(i) (as redesignated by section 3(d)(2)), are each amended— (i) by striking ‘‘interest’’ and inserting ‘‘interests’’, and (ii) by striking ‘‘before’’ and inserting ‘‘on or before’’. (17)(A) Subparagraph (C) of section 852(b)(4) is amended to read as follows: ‘‘(C) DETERMINATION OF HOLDING PERIODS.—For purposes of this paragraph, in determining the period for which the taxpayer has held any share of stock— ‘‘(i) the rules of paragraphs (3) and (4) of section 246(c) shall apply, and ‘‘(ii) there shall not be taken into account any day which is more than 6 months after the date on which such share becomes ex-dividend.’’. (B) Subparagraph (B) of section 857(b)(8) is amended to read as follows: ‘‘(B) DETERMINATION OF HOLDING PERIODS.—For purposes of this paragraph, in determining the period for which the taxpayer has held any share of stock or beneficial interest— ‘‘(i) the rules of paragraphs (3) and (4) of section 246(c) shall apply, and ‘‘(ii) there shall not be taken into account any day which is more than 6 months after the date on which such share or interest becomes ex-dividend.’’. (18) Paragraph (2) of section 856(l) is amended by striking the last sentence and inserting the following: ‘‘For purposes of subparagraph (B), securities described in subsection (m)(2)(A) shall not be taken into account.’’. (19) Subparagraph (F) of section 954(c)(1) is amended to read as follows: ‘‘(F) INCOME FROM NOTIONAL PRINCIPAL CONTRACTS.— ‘‘(i) IN GENERAL.—Net income from notional principal contracts. ‘‘(ii) COORDINATION WITH OTHER CATEGORIES OF FOREIGN PERSONAL HOLDING COMPANY INCOME.—Any item of income, gain, deduction, or loss from a notional principal contract entered into for purposes of hedging any item described in any preceding subparagraph shall not be taken into account for purposes of this subparagraph but shall be taken into account under such other subparagraph.’’. (20) Paragraph (1) of section 954(c) is amended by redesignating subparagraph (I) as subparagraph (H). (21) Paragraph (33) of section 1016(a), as redesignated by section 7(a)(1)(C), is amended by striking ‘‘section 25C(e)’’ and inserting ‘‘section 25C(f)’’. (22) Paragraph (36) of section 1016(a), as redesignated by section 7(a)(1)(C), is amended by striking ‘‘section 30C(f)’’ and inserting ‘‘section 30C(e)(1)’’. (23) Subparagraph (G) of section 1260(c)(2) is amended by adding ‘‘and’’ at the end. (24)(A) Section 1297 is amended by striking subsection (d) and by redesignating subsections (e) and (f) as subsections (d) and (e), respectively. (B) Subparagraph (G) of section 1260(c)(2) is amended by striking ‘‘subsection (e)’’ and inserting ‘‘subsection (d)’’.

26 USC 852.

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