Allowance of credit
In general
Limitation where credit rate exceeds 20 percent
In general
If the certificate credit rate exceeds 20 percent, the amount of the credit allowed to the taxpayer under paragraph (1) for any taxable year shall not exceed $2,000.
Special rule where 2 or more persons hold interests in residence
If 2 or more persons hold interests in any residence, the limitation of subparagraph (A) shall be allocated among such persons in proportion to their respective interests in the residence.
Certificate credit rate; certified indebtedness amount
Certificate credit rate
The term “certificate credit rate” means the rate of the credit allowable by this section which is specified in the mortgage credit certificate.
Certified indebtedness amount
Mortgage credit certificate; qualified mortgage credit certificate program
Mortgage credit certificate
Qualified mortgage credit certificate program
In general
Modifications of section 143
Determination of certificate credit rate
In general
The certificate credit rate specified in any mortgage credit certificate shall not be less than 10 percent or more than 50 percent.
Aggregate limit on certificate credit rates
In general
Nonissued bond amount
For purposes of subparagraph (A), the term “nonissued bond amount” means, with respect to any qualified mortgage credit certificate program, the amount of qualified mortgage bonds which the issuing authority is otherwise authorized to issue and elects not to issue under subsection (c)(2)(A)(ii).
Special rules and definitions
Carryforward of unused credit
In general
If the credit allowable under subsection (a) for any taxable year exceeds the applicable tax limit for such taxable year, such excess shall be a carryover to each of the 3 succeeding taxable years and, subject to the limitations of subparagraph (B), shall be added to the credit allowable by subsection (a) for such succeeding taxable year.
Limitation
Applicable tax limit
For purposes of this paragraph, the term “applicable tax limit” means the limitation imposed by section 26(a) for the taxable year reduced by the sum of the credits allowable under this subpart (other than this section and sections 23 and 25D).
Indebtedness not treated as certified where certain requirements not in fact met
Subsection (a) shall not apply to any indebtedness if all the requirements of subsection (c)(1), (d), (e), (f), and (i) of section 143 and clauses (iv), (v), and (vii) of subsection (c)(2)(A), were not in fact met with respect to such indebtedness. Except to the extent provided in regulations, the requirements described in the preceding sentence shall be treated as met if there is a certification, under penalty of perjury, that such requirements are met.
Period for which certificate in effect
In general
Certificate invalid unless indebtedness incurred within certain period
A certificate shall not apply to any indebtedness which is incurred after the close of the second calendar year following the calendar year for which the issuing authority made the applicable election under subsection (c)(2)(A)(ii).
Notice to Secretary when certificate revoked
Any issuing authority which revokes any mortgage credit certificate shall notify the Secretary of such revocation at such time and in such manner as the Secretary shall prescribe by regulations.
Reissuance of mortgage credit certificates
The Secretary may prescribe regulations which allow the administrator of a mortgage credit certificate program to reissue a mortgage credit certificate specifying a certified mortgage indebtedness that replaces the outstanding balance of the certified mortgage indebtedness specified on the original certificate to any taxpayer to whom the original certificate was issued, under such terms and conditions as the Secretary determines are necessary to ensure that the amount of the credit allowable under subsection (a) with respect to such reissued certificate is equal to or less than the amount of credit which would be allowable under subsection (a) with respect to the original certificate for any taxable year ending after such reissuance.
Public notice that certificates will be issued
Interest paid or accrued to related persons
No credit shall be allowed under subsection (a) for any interest paid or accrued to a person who is a related person to the taxpayer (within the meaning of section 144(a)(3)(A)).
Principal residence
The term “principal residence” has the same meaning as when used in section 121.
Qualified rehabilitation and home improvement
Qualified rehabilitation
The term “qualified rehabilitation” has the meaning given such term by section 143(k)(5)(B).
Qualified home improvement
The term “qualified home improvement” means an alteration, repair, or improvement described in section 143(k)(4).
Qualified mortgage bond
The term “qualified mortgage bond” has the meaning given such term by section 143(a)(1).
Manufactured housing
For purposes of this section, the term “single family residence” includes any manufactured home which has a minimum of 400 square feet of living space and a minimum width in excess of 102 inches and which is of a kind customarily used at a fixed location. Nothing in the preceding sentence shall be construed as providing that such a home will be taken into account in making determinations under section 143.
Reduction in aggregate amount of qualified mortgage bonds which may be issued where certain requirements not met
In general
If for any calendar year any mortgage credit certificate program which satisfies procedural requirements with respect to volume limitations prescribed by the Secretary fails to meet the requirements of paragraph (2) of subsection (d), such requirements shall be treated as satisfied with respect to any certified indebtedness of such program, but the applicable State ceiling under subsection (d) of section 146 for the State in which such program operates shall be reduced by 1.25 times the correction amount with respect to such failure. Such reduction shall be applied to such State ceiling for the calendar year following the calendar year in which the Secretary determines the correction amount with respect to such failure.
Correction amount
In general
For purposes of paragraph (1), the term “correction amount” means an amount equal to the excess credit amount divided by 0.25.
Excess credit amount
In general
Credit amount
For purposes of clause (i), the term “credit amount” means the sum of the products determined under clauses (i) and (ii) of subsection (d)(2)(A).
Special rule for States having constitutional home rule cities
In the case of a State having one or more constitutional home rule cities (within the meaning of section 146(d)(3)(C)), the reduction in the State ceiling by reason of paragraph (1) shall be allocated to the constitutional home rule city, or to the portion of the State not within such city, whichever caused the reduction.
Exception where certification program
The provisions of this subsection shall not apply in any case in which there is a certification program which is designed to ensure that the requirements of this section are met and which meets such requirements as the Secretary may by regulations prescribe.
Waiver
The Secretary may waive the application of paragraph (1) in any case in which he determines that the failure is due to reasonable cause.
Reporting requirements
Regulations; contracts
Regulations
The Secretary shall prescribe such regulations as may be necessary to carry out the purposes of this section, including regulations which may require recipients of mortgage credit certificates to pay a reasonable processing fee to defray the expenses incurred in administering the program.
Contracts
The Secretary is authorized to enter into contracts with any person to provide services in connection with the administration of this section.
Recapture of portion of Federal subsidy from use of mortgage credit certificates
For provisions increasing the tax imposed by this chapter to recapture a portion of the Federal subsidy from the use of mortgage credit certificates, see section 143(m).
Pub. L. 98–369, div. A, title VI, § 612(a)98 Stat. 905Pub. L. 99–514, title XIII, § 1301(f)100 Stat. 2655Pub. L. 100–647, title I, § 1013(a)(25)102 Stat. 3543Pub. L. 101–239, title VII, § 7104(b)103 Stat. 2305Pub. L. 101–508, title XI, § 11408(b)104 Stat. 1388–477Pub. L. 102–227, title I, § 108(b)105 Stat. 1688Pub. L. 103–66, title XIII, § 13141(b)107 Stat. 436Pub. L. 104–188, title I, § 1807(c)(1)110 Stat. 1902Pub. L. 105–34, title III, § 312(d)(1)111 Stat. 839Pub. L. 105–206, title VI, § 6008(d)(7)112 Stat. 812Pub. L. 107–16, title II, § 201(b)(2)(F)115 Stat. 46Pub. L. 109–58, title XIII, § 1335(b)(2)119 Stat. 1036Pub. L. 109–135, title IV, § 402(i)(3)(C)119 Stat. 2613Pub. L. 110–343, div. B, title II, § 205(d)(1)(B)122 Stat. 3838Pub. L. 111–5, div. B, title I123 Stat. 314Pub. L. 111–148, title X, § 10909(b)(2)(B)124 Stat. 1023Pub. L. 111–312, title I, § 101(b)(1)124 Stat. 3298Pub. L. 112–240, title I, § 104(c)(2)(C)126 Stat. 2322Pub. L. 115–141, div. U, title IV, § 401(d)(4)(B)(ii)132 Stat. 1209Pub. L. 119–21, title VII, § 70411(a)(2)(A)139 Stat. 217(Added , , ; amended , title XVIII, §§ 1862(a)–(d)(1), 1899A(1), , , 2883, 2884, 2958; , (26), title IV, § 4005(a)(2), (g)(7), , , 3645, 3651; , , ; , , ; , , ; , , ; , , ; , , ; , , ; , title VI, § 618(b)(2)(B), , , 108; , , ; , (4), , , 2615; , , ; , §§ 1004(b)(2), 1142(b)(1)(B), 1144(b)(1)(B), , , 330, 332; , (c), , ; , , ; , , ; , , ; , , .)
Amendment of Subsection (e)(1)(C)
Pub. L. 119–21, title VII, § 70411(a)(2)(A)139 Stat. 217, (c)(1), , , 218, provided that, applicable to taxable years ending after , subsection (e)(1)(C) of this section is amended by striking “and 25D” and inserting “25D, and 25F”. See 2025 Amendment note below.
Editorial Notes
Prior Provisions
section 26 of this titleA prior section 25 was renumbered .
Amendments
Pub. L. 119–212025—Subsec. (e)(1)(C). substituted “25D, and 25F” for “and 25D”.
Pub. L. 115–1412018—Subsec. (e)(1)(C). substituted “sections 23 and 25D” for “sections 23, 25D, and 1400C”.
Pub. L. 112–2402013—Subsec. (e)(1)(C). amended subpar. (C) generally. Prior to amendment, text read as follows: “For purposes of this paragraph, the term ‘applicable tax limit’ means—
“(i) in the case of a taxable year to which section 26(a)(2) applies, the limitation imposed by section 26(a)(2) for the taxable year reduced by the sum of the credits allowable under this subpart (other than this section and sections 23, 25D, and 1400C), and
“(ii) in the case of a taxable year to which section 26(a)(2) does not apply, the limitation imposed by section 26(a)(1) for the taxable year reduced by the sum of the credits allowable under this subpart (other than this section and sections 23, 24, 25A(i), 25B, 25D, 30, 30B, 30D, and 1400C).”
Pub. L. 111–148, § 10909(b)(2)(B)Pub. L. 111–3122010—Subsec. (e)(1)(C). , (c), as amended by , temporarily struck out “23,” after “and sections” in cls. (i) and (ii). See Effective and Termination Dates of 2010 Amendment note below.
Pub. L. 111–5, § 1144(b)(1)(B)2009—Subsec. (e)(1)(C)(ii). , inserted “30B,” after “30,”.
Pub. L. 111–5, § 1142(b)(1)(B), inserted “30,” after “25D,”.
Pub. L. 111–5, § 1004(b)(2), inserted “25A(i),” after “24,”.
Pub. L. 110–3432008—Subsec. (e)(1)(C)(ii). inserted “30D,” after “25D,”.
Pub. L. 109–135, § 402(i)(3)(C)2005—Subsec. (e)(1)(C). , reenacted heading without change and amended text generally. Prior to amendment, text read as follows: “For purposes of this paragraph, the term ‘applicable tax limit’ means the limitation imposed by section 26(a) for the taxable year reduced by the sum of the credits allowable under this subpart (other than this section and sections 23, 24, 25B, and 1400C).”
Pub. L. 109–58, § 1335(b)(2)Pub. L. 109–135, § 402(i)(4), which directed amendment of subpar. (C) by substituting “other than this section, section 23, section 25D, and section 1400C” for “this section and sections 23 and 1400C”, was repealed by . See Effective and Termination Dates of 2005 Amendments notes below.
Pub. L. 107–16, § 618(b)(2)(B)2001—Subsec. (e)(1)(C). , inserted “25B,” after “24,”.
Pub. L. 107–16, § 201(b)(2)(F), inserted “, 24,” after “sections 23”.
Pub. L. 105–2061998—Subsec. (e)(1)(C). substituted “sections 23 and 1400C” for “section 23”.
Pub. L. 105–341997—Subsec. (e)(7). substituted “section 121” for “section 1034”.
Pub. L. 104–1881996—Subsec. (e)(1)(C). inserted “and section 23” after “other than this section”.
Pub. L. 103–661993—Subsecs. (h) to (j). redesignated subsecs. (i) and (j) as (h) and (i), respectively, and struck out heading and text of former subsec. (h). Text read as follows: “No election may be made under subsection (c)(2)(A)(ii) for any period after .”
Pub. L. 102–2271991—Subsec. (h). substituted “” for “”.
Pub. L. 101–5081990—Subsec. (h). substituted “” for “”.
Pub. L. 101–2391989—Subsec. (h). substituted “for any period after ” for “for any calendar year after 1989”.
Pub. L. 100–647, § 1013(a)(25)Pub. L. 99–514, § 1301(f)(2)(C)(ii)1988—Subsec. (c)(2)(A)(ii). , amended , see 1986 Amendment note below.
Pub. L. 100–647, § 4005(a)(2)Subsec. (h). , substituted “1989” for “1988”.
Pub. L. 100–647, § 1013(a)(26), substituted “1988” for “1987”.
Pub. L. 100–647, § 4005(g)(7)Subsec. (j). , added subsec. (j).
Pub. L. 99–514, § 1862(d)(1)1986—Subsec. (a)(1)(B). , substituted “paid or accrued” for “paid or incurred”.
Pub. L. 99–514, § 1301(f)(2)(A)lSubsec. (b)(2)(A)(ii). , substituted “section 143(k)(4)” for “section 103A()(6)”.
Pub. L. 99–514, § 1301(f)(2)(B)lSubsec. (b)(2)(A)(iii). , substituted “section 143(k)(5)” for “section 103A()(7)”.
Pub. L. 99–514, § 1301(f)(2)(E)Subsec. (c)(2)(A). , substituted “section 143(a)(2)” for “section 103A(c)(2)” in provision following cl. (vii).
Pub. L. 99–514, § 1862(b), inserted “Under regulations, rules similar to the rules of subparagraphs (B) and (C) of section 103A(c)(2) shall apply to the requirements of this subparagraph.”
Pub. L. 99–514, § 1301(f)(2)(C)(ii)Pub. L. 100–647, § 1013(a)(25)Subsec. (c)(2)(A)(ii). , as amended by , substituted “private activity bonds which it may otherwise issue during such calendar year under section 146” for “qualified mortgage bonds which it may otherwise issue during such calendar year under section 103A”.
Pub. L. 99–514, § 1301(f)(2)(C)(i)Subsec. (c)(2)(A)(iii). , substituted “section 143” for “section 103A” in introductory provisions, added subcls. (I) to (VI), and struck out former subcls. (I) to (V) which read as follows:
“(I) subsection (d) (relating to residence requirements),
“(II) subsection (e) (relating to 3-year requirement),
“(III) subsection (f) (relating to purchase price requirement),
“(IV) subsection (h) (relating to portion of loans required to be placed in targeted areas), and
“(V) subsection (j), other than paragraph (2) thereof (relating to other requirements),”.
Pub. L. 99–514, § 1862(a)Subsec. (c)(2)(A)(iii)(V). , substituted “subsection (j), other than paragraph (2) thereof” for “paragraph (1) of subsection (j)”.
Pub. L. 99–514, § 1301(f)(2)(C)(i)Subsec. (c)(2)(B). , substituted in heading and introductory provisions “section 143” for “section 103A”.
Pub. L. 99–514, § 1301(f)(2)(F), inserted in introductory provisions reference to subcl. (V), added cl. (iii) and closing provisions, and struck out former cl. (iii) and closing provisions which read as follows:
“(iii) paragraph (1) of section 103A(e) shall be applied by substituting ‘100 percent’ for ‘90 percent or more’.
Clause (iii) shall not apply if the issuing authority submits a plan to the Secretary for administering the 90-percent requirement of section 103A(e)(1) and the Secretary is satisfied that such requirement will be met under such plan.”
Pub. L. 99–514, § 1301(f)(1)(A)Subsec. (d)(2)(A). , substituted “25 percent” for “20 percent” in concluding provisions.
Pub. L. 99–514, § 1301(f)(2)(G)Subsec. (d)(3). , struck out par. (3) “Additional limit in certain cases” which read as follows: “In the case of a qualified mortgage credit certificate program in a State which—
“(A) has a State ceiling (as defined in section 103A(g)(4)) for the year an election is made that exceeds 20 percent of the average annual aggregate principal amount of mortgages executed during the immediately preceding 3 calendar years for single family owner-occupied residences located within the jurisdiction of such State, or
“(B) issued qualified mortgage bonds in an aggregate amount less than $150,000,000 for calendar year 1983,
the certificate credit rate for any mortgage credit certificate shall not exceed 20 percent unless the issuing authority submits a plan to the Secretary to ensure that the weighted average of the certificate credit rates in such mortgage credit certificate program does not exceed 20 percent and the Secretary approves such plan.”
Pub. L. 99–514, § 1862(c)Subsec. (e)(1)(B). , amended subpar. (B) generally. Prior to amendment, subpar. (B) “Limitations” read as follows: “The amount of the unused credit which may be taken into account under subparagraph (A) for any taxable year shall not exceed the amount by which the applicable tax limit for such taxable year exceeds the sum of the amounts which, by reason of this paragraph, are carried to such taxable year and are attributable to taxable years before the unused credit year.”
Pub. L. 99–514, § 1301(f)(2)(H)Subsec. (e)(2). , substituted “subsections (c)(1), (d), (e), (f), and (i) of section 143” for “subsection (d)(1), (e), (f), and (j) of section 103A”.
Pub. L. 99–514, § 1301(f)(2)(I)Subsec. (e)(6). , substituted “section 144(a)(3)(A)” for “section 103(b)(6)(C)(i)”.
Pub. L. 99–514, § 1301(f)(2)(J)lSubsec. (e)(8)(A). , substituted “section 143(k)(5)(B)” for “section 103A()(7)(B)”.
Pub. L. 99–514, § 1301(f)(2)(K)lSubsec. (e)(8)(B). , substituted “section 143(k)(4)” for “section 103A()(6)”.
Pub. L. 99–514, § 1301(f)(2)(L)Subsec. (e)(9). , substituted “section 143(a)(1)” for “section 103A(c)(1)”.
Pub. L. 99–514, § 1301(f)(2)(M)Subsec. (e)(10). , substituted “section 143” for “section 103A”.
Pub. L. 99–514, § 1301(f)(2)(N)Subsec. (f)(1). , substituted “subsection (d) of section 146” for “paragraph (4) of section 103A(g)”.
Pub. L. 99–514, § 1301(f)(1)(B)Subsec. (f)(2)(A). , substituted “0.25” for “0.20”.
Pub. L. 99–514, § 1301(f)(2)(O)Subsec. (f)(3). , substituted “section 146(d)(3)(C)” for “section 103A(g)(5)(C)”.
Pub. L. 99–514, § 1899A(1)Subsec. (f)(4). , substituted “ensure” for “insure”.
Statutory Notes and Related Subsidiaries
Effective Date of 2025 Amendment
Pub. L. 119–21, title VII, § 70411(c)139 Stat. 218
In general .—
Exclusion from gross income .—
Effective Date of 2013 Amendment
Pub. L. 112–240section 104(d) of Pub. L. 112–240section 23 of this titleAmendment by applicable to taxable years beginning after , see , set out as a note under .
Effective and Termination Dates of 2010 Amendment
Pub. L. 111–148section 10909(c) of Pub. L. 111–148section 1 of this titleAmendment by terminated applicable to taxable years beginning after , and section is amended to read as if such amendment had never been enacted, see , set out as a note under .
Pub. L. 111–148section 10909(d) of Pub. L. 111–148section 1 of this titleAmendment by applicable to taxable years beginning after , see , set out as a note under .
Effective Date of 2009 Amendment
section 1004(b)(2) of Pub. L. 111–5section 1004(d) of Pub. L. 111–5section 24 of this titleAmendment by applicable to taxable years beginning after , see , set out as an Effective and Termination Dates of 2009 Amendment note under .
section 1142(b)(1)(B) of Pub. L. 111–5section 1142(c) of Pub. L. 111–5section 24 of this titleAmendment by applicable to vehicles acquired after , see , set out as an Effective and Termination Dates of 2009 Amendment note under .
section 1144(b)(1)(B) of Pub. L. 111–5section 1144(c) of Pub. L. 111–5section 24 of this titleAmendment by applicable to taxable years beginning after , see , set out as an Effective and Termination Dates of 2009 Amendment note under .
Effective Date of 2008 Amendment
Pub. L. 110–343section 205(e) of Pub. L. 110–343section 24 of this titleAmendment by applicable to taxable years beginning after , see , set out as an Effective and Termination Dates of 2008 Amendment note under .
Effective and Termination Dates of 2005 Amendment
section 402(i)(3)(C) of Pub. L. 109–135Pub. L. 107–16, § 901section 402(i)(3)(H) of Pub. L. 109–135section 23 of this titlePub. L. 107–16Pub. L. 112–240, title I, § 101(a)(1)126 Stat. 2315Amendment by subject to title IX of the Economic Growth and Tax Relief Reconciliation Act of 2001, , in the same manner as the provisions of such Act to which such amendment relates, see , set out as a note under . Title IX of was repealed by , , .
Pub. L. 109–58section 402(i)(4) of Pub. L. 109–135section 23 of this titleThe Internal Revenue Code of 1986 to be applied and administered as if the amendments made by section 1335(b)(1)–(3) of had never been enacted, see , set out as a note under .
Pub. L. 109–135Pub. L. 109–58section 402(i)(3)(C) of Pub. L. 109–135section 402(m) of Pub. L. 109–135section 23 of this titleAmendments by effective as if included in the provisions of the Energy Policy Act of 2005, , to which they relate, except that amendment by is applicable to taxable years beginning after , see , set out as a note under .
Pub. L. 109–58section 1335(c) of Pub. L. 109–58section 23 of this titleAmendment by applicable to property placed in service after , in taxable years ending after such date, see , set out as a note under .
Effective Date of 2001 Amendment
Pub. L. 107–16section 312(b)(2) of Pub. L. 108–311section 23 of this titleAmendment by inapplicable to taxable years beginning during 2004 or 2005, see , set out as a note under .
Pub. L. 107–16section 601(b)(2) of Pub. L. 107–147section 23 of this titleAmendment by inapplicable to taxable years beginning during 2002 and 2003, see , set out as a note under .
section 201(b)(2)(F) of Pub. L. 107–16section 201(e)(2) of Pub. L. 107–16section 24 of this titleAmendment by applicable to taxable years beginning after , see , set out as a note under .
section 618(b)(2)(B) of Pub. L. 107–16section 618(d) of Pub. L. 107–16section 24 of this titleAmendment by applicable to taxable years beginning after , see , set out as a note under .
Effective Date of 1998 Amendment
Pub. L. 105–206Pub. L. 105–34section 6024 of Pub. L. 105–206section 1 of this titleAmendment by effective, except as otherwise provided, as if included in the provisions of the Taxpayer Relief Act of 1997, , to which such amendment relates, see , set out as a note under .
Effective Date of 1997 Amendment
Pub. L. 105–34section 312(d) of Pub. L. 105–34section 121 of this titleAmendment by applicable to sales and exchanges after , with certain exceptions, see , set out as a note under .
Effective Date of 1996 Amendment
Pub. L. 104–188section 1807(e) of Pub. L. 104–188section 23 of this titleAmendment by applicable to taxable years beginning after , see , set out as an Effective Date note under .
Effective Date of 1993 Amendment
Pub. L. 103–66, title XIII, § 13141(f)(2)107 Stat. 437
Effective Date of 1991 Amendment
Pub. L. 102–227, title I, § 108(c)(2)105 Stat. 1688
Effective Date of 1990 Amendment
Pub. L. 101–508section 11408(d)(2) of Pub. L. 101–508section 143 of this titleAmendment by applicable to elections for periods after , see , set out as a note under .
Effective Date of 1988 Amendment
Pub. L. 100–647Pub. L. 99–514section 1019(a) of Pub. L. 100–647section 1 of this titleAmendment by section 1013(a)(25), (26) of effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, , to which such amendment relates, see , set out as a note under .
section 4005(a)(2) of Pub. L. 100–647section 4005(h)(1) of Pub. L. 100–647section 143 of this titleAmendment by applicable to bonds issued, and nonissued bond amounts elected, after , see , set out as a note under .
section 4005(g)(7) of Pub. L. 100–647section 4005(h)(3) of Pub. L. 100–647section 143 of this titleAmendment by applicable to financing provided, and mortgage credit certificates issued, after , with certain exceptions, see , set out as a note under .
Effective Date of 1986 Amendment
section 1301(f)(1) of Pub. L. 99–514section 1301(f)(2) of Pub. L. 99–514section 1311(b) of Pub. L. 99–514section 141 of this titleAmendment by applicable to nonissued bond amounts elected after , and amendment by applicable to certificates issued with respect to nonissued bond amounts elected after , see , as amended, set out as an Effective Date; Transitional Rules note under .
Pub. L. 99–514Pub. L. 98–369, div. Asection 1881 of Pub. L. 99–514section 48 of this titleAmendment by section 1862(a)–(d)(1) of effective, except as otherwise provided, as if included in the provisions of the Tax Reform Act of 1984, , to which such amendment relates, see , set out as a note under .
Effective Date
Pub. L. 98–369, div. A, title VI, § 612(g)98 Stat. 913Pub. L. 99–514, § 2100 Stat. 2095
In general .—
Elections .—
Savings Provision
Pub. L. 115–141section 401(d)(4)(C) of Pub. L. 115–141section 1400 of this titleAmendment by not applicable to certain obligations issued, DC Zone assets acquired, or principal residences acquired before , see , set out as a note under former .
Pub. L. 115–141section 401(e) of Pub. L. 115–141section 23 of this titleFor provisions that nothing in amendment by be construed to affect treatment of certain transactions occurring, property acquired, or items of income, loss, deduction, or credit taken into account prior to , for purposes of determining liability for tax for periods ending after , see , set out as a note under .
Plan Amendments Not Required Until January 1, 1989
Pub. L. 99–514section 1140 of Pub. L. 99–514section 401 of this titleFor provisions directing that if any amendments made by subtitle A or subtitle C of title XI [§§ 1101–1147 and 1171–1177] or title XVIII [§§ 1800–1899A] of require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after , see , as amended, set out as a note under .