12 2 STA T . 1 63 3 PUBLIC LA W 11 0– 2 45—J U NE 1 7, 200 8Code,withr e sp e c tto a perso n , tothee x tent that s u ch contri b ution does not exceed —‘ ‘ ( i ) the su m o f the amounts recei v ed durin g such period b y such contributor under such sections with respect to such person, reduced by ‘‘(ii) the amounts so received which were contrib - uted to a R oth I R A under section 408 A(e)( 2 )orto another Coverde l l education savings account . ‘‘( B )A N N UAL L IM I TO N NUM BER O F ROLLO V ER S NOT TOA P PL Y .— T he last sentence of paragraph ( 5 ) shall not apply with respect to amounts treated as a rollover by the subparagraph (A). ‘‘(C) APPLI C ATION OF SECTION 72 .— F or purposes of applying section 7 2 in the case of a distribution which is includible in gross income under paragraph ( 1 ), the amount treated as a rollover by reason of subparagraph (A) shall be treated as investment in the contract. ’ ’. (d) E FFECTIVE D ATES.— (1) IN G ENERAL.—Except as provided by paragraphs (2) and ( 3 ), the amendments made by this section shall apply with respect to deaths from in j uries occurring on or after the date of the enactment of this Act. (2) APPLICATION OF AMEN D MENTS TO DEAT H S FROM IN J URIES OCCURRING ON OR AFTER OCTOBER 7, 2 0 0 1 , AND BEFORE ENACT- MENT.—The amendments made by this section shall apply to any contribution made pursuant to section 408A(e)(2) or 530(d)(5) of the Internal Revenue Code of 1 9 8 6 , as amended by this Act, with respect to amounts received under section 1477 of title 10, U nited S tates Code, or under section 1967 of title 38 of such Code, for deaths from injuries occurring on or after O ctober 7, 2001, and before the date of the enact- ment of this Act if such contribution is made not later than 1 year after the date of the enactment of this Act. (3) P ENSION PROTECTION ACT CHANGES.—Section 408A(e)(1) of the Internal Revenue Code of 1986 (as in effect after the amendments made by subsection (b)) shall apply to taxable years beginning after December 31, 2007. SEC.1 1 0 .S U S P E N S IO NO F5-Y E AR PERIO D DURIN G SER V ICE W I TH THE PEACE CORPS. (a) IN G ENERAL.—Subsection (d) of section 121 (relating to special rules) is amended by adding at the end the following new paragraph
‘‘(12) PEACE CORPS.— ‘‘(A) IN GENERAL.—At the election of an individual with respect to a property, the running of the 5-year period described in subsections (a) and (c)(1)(B) and paragraph (7) of this subsection with respect to such property shall be suspended during any period that such individual or such individual’s spouse is serving outside the United States— ‘‘(i) on q ualified official extended duty (as defined in paragraph (9)(C)) as an employee of the Peace Corps, or ‘‘(ii) as an enrolled volunteer or volunteer leader under section 5 or 6 (as the case may be) of the Peace Corps Act (22 U.S.C. 2504, 2505). 26USC1 21 .Ap p licab ili ty . 26 USC 408 A no t e .
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