92 STAT. 3192
PUBLIC LAW 95-618—NOV. 9, 1978 •>
be used by the purchaser on or in connection with a qualified bus."
26 USC 4221.
(2) QUALIFIED BUS DEFINED.—Subsection (d) of section 4221
(relating to definitions) is amended by a d d i n g a t the end thereof the following new paragraph: "(7)
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26 USC 6416.
QUALIFIED BUS.—
" (A) IN GENERAL.—The term 'qualified b u s ' l u e a u s — " (i) an intercity or local bus, and " ( i i) a school bus. " (B) INTERCITY OR LOCAL BUS.—The term 'intercity or local bus' means any automobile bus which is used predominantly in furnishing (for compensation) passenger land transportation available to the general public if— " (i) such transportation is scheduled and along regular routes, or " ( i i) the seating capacity of such bus is a t least 20 adults (not including the d r i v e r). " (C) SCHOOL BUS.—The term 'school bus' means any automobile bus substantially all the use of which is in transporti n g students and employees of schools. For purposes of the preceding sentence, the term 'school' means an educational organization which normally maintains a regular faculty and curriculum and normally has a regularly enrolled body of pupils or students in attendance a t the place where its educational activities are carried on." (3) TECHNICAL AMENDMENT. — Paragraph (2) of section 6416
26 USC 4071.
26 USC 39 note.
(b) (relating to specified uses and resales) is amended by striking out the period at the end of subparagraph (K) and inserting in lieu thereof a semicolon and by inserting after subparagraph (K) the following new subparagraph s: " (L) in the case of any tire or inner tube taxable under paragraph (1) or (3) of section 4 0 7 1 (a), sold to any person for use as described in section 4221(e)(5)(A); or " (M) in the case of tread rubber taxable under paragraph (4) of section 4 0 7 1 (a), used in the recapping or retreading of a tire sold to any person for use on or in connection with a qualified bus (as defined in section 4221(d)(7)). " (d) EFFECTIVE D A T E. — The amendments made by this section shall take effect on the first d a y of the first calendar month which begins more than 10 days after the date of the enactment of this Act,
PART IV—INCENTIVES FOR VAN POOLING SEC. 241. FULL INVESTMENT CREDIT FOR CERTAIN COMMUTER VEHICLES. (a) IN GENERAL.—Subsection (c) of section 46 (relating to qualified investment) is amended by a d d i n g at the end thereof the following new paragraph:
26 USC 46.
" (6) SPECIAL RULE FOR COMMUTER HIGHWAY VEHICLES.—
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" (A) IN GENERAL.—ISTotwithstanding paragraph (2), in the case of a commuter highway vehicle the useful life of which is 3 years or more, the applicable percentage for purposes of paragraph (1) shall be 100 percent. "(B)
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DEFINITION OF COMMUTER HIGHWAY VEHICLE.—For
purposes of subparagraph (A), the term 'commuter highway vehicle'means a highway vehicle—
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