PUBLIC LAW 98-4 —MAR. 11, 1983 97 STAT. 9 any agricultural commodity in return for meeting the require- ments of clauses (i) and (ii) of paragraph (1)(A). (4) RECEIPT INCLUDES RIGHT TO RECEIVE, ETC.— A right to receive (or other constructive receipt of) a commodity shall be treated the same as actual receipt of such commodity. (5) AMOUNTS RECEIVED BY THE TAXPAYER AS REIMBURSEMENT FOR STORAGE.—A qualified taxpayer reporting on the cash receipts and disbursements method of accounting shall not be treated as being entitled to receive any amount as reimburse- ment for storage of commodities received under a 1983 pay- ment-in-kind program until such amount is actually received by the taxpayer. (6) COMMODITY CREDIT LOANS TREATED SEPARATELY.— Subsec- tion (a) of section 2 shall apply to the receipt of any commodity under a 1983 payment-in-kind program separately from, and without taking into account, any related transaction or series of transactions involving the satisfaction of loans from the Com- modity Credit Corporation. (b) REGULATIONS. —The Secretary of the Treasury or his delegate (after consultation with the Secretary of Agriculture) shall prescribe such regulations as may be necessary to carry out the purposes of this Act, including (but not limited to) such regulations as may be necessary to carry out the purposes of this Act where the commodity is received by a cooperative on behalf of the qualified taxpayer. SEC. 6. STUDY. 26 USC 61 note. (a) GENERAL RULE. — The Secretary of the Treasury or his delegate, after consultation with the Secretary of Agriculture, shall conduct a study of— (1) the 1983 payment-in-kind program, and (2) the tax treatment provided with respect to such program by this Act. (b) REPORT. —Not later than September 1, 1983, the Secretary of the Treasury sheQl submit to the Congress a report on the study conducted under subsection (a), together with such recommenda- tions as he may deem advisable. Approved March 11, 1988. LEGISLATIVE HISTORY—H.R. 1296 (S. 690): HOUSE REPORT: No. 98-14 (Comm. on Ways and Means). CONGRESSIONAL RECORD, Vol. 129 (1983): Mar. 8, considered and passed House; considered and passed Senate, amended. Mar. 9, House concurred in Senate amendment with an amendment. Mar. 10, Senate concurred in House amendment.
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