98 STAT. 712
PUBLIC LAW 98-369—JULY 18, 1984 (A) IN GENERAL.—The Federal Home Loan Mortgage Corporation shall not be allowed any deduction for interest accruing after December 31, 1984, on any replacement obligation. (B) REPLACEMENT OBLIGATION DEFINED.—For purposes of
subparagraph (A), the term "replacement obligation" means any obligation to any person created after March 15, 1984, which the Secretary of the Treasury or his delegate determines replaces any equity or debt interest of a Federal Home Loan Bank or any other person in the Federal Home Loan Mortgage Corporation existing on such date. The preceding sentence shall not apply to any obligation with respect to which the Federal Home Loan Mortgage Corporation establishes that there is no tax avoidance effect.
26 USC 631.
26 USC 631 note.
SEC. 178. SPECIAL RULE RELATING TO SALES OR EXCHANGES OF CERTAIN ECONOMIC INTERESTS IN COAL BETWEEN RELATED PARTIES. (a) IN GENERAL.—The last sentence of section 631(c) (relating to disposal of coal or domestic iron ore with a retained economic interest) is amended by inserting "or coal" after "iron ore" each place it appears. (b) EFFECTIVE D A T E S. —
(1) IN GENERAL.—Except as provided in paragraph (2), the amendment made by subsection (a) shall apply to dispositions after September 30, 1985. (2) SPECIAL RULE FOR FIXED CONTRACTS.—
(A) IN GENERAL.—The amendment made by subsection (a) shall not apply to any disposition of an interest in coal by a person to a related person if such coal is subsequently sold before January 1, 1990, by either such person— (i) to a person who is not a related person with respect to either such person, and (ii) pursuant to a qusdified fixed contract. (B) ALLOCATION WHERE MORE THAN i CONTRACT.—If, for
26 USC 1 et seq.
any taxable year, there is a disposition described in subparagraph (A) which is not specifically allocable to a qualified fixed contract or to a contract which is not a qualified fixed contract, such disposition shall be treated as first allocable to the qualified fixed contract. (C) QuAUFiED FIXED CONTRACT DEFINED.—The term "qualified fixed contract" means any contract for the sale of coal which— (i) was entered into before June 12, 1984, (ii) is binding at all times thereafter, and (iii) cannot be adjusted to reflect to any extent the increase in liabilities of the person disposing of the coal for tax under chapter 1 of the Internal Revenue Code of 1954 by reason of the amendment made by subsection (a). (D) RELATED PERSON.—For purposes of this paragraph, the term "related person" means a person who bears a relationship to another person described in the last sentence of section 631(c).
�
