26 U.S.C. § 46

Editorial Notes

Amendments

Pub. L. 117–1672022—Par. (6). amended par. (6) generally. Prior to amendment, text read as follows: “the qualifying therapeutic discovery project credit.”

Pub. L. 117–169Par. (7). added par. (7).

Pub. L. 113–2952014—Par. (4). inserted a comma at end.

Pub. L. 111–148, § 9023(b)(1)2010—Par. (2). , inserted a comma at end.

Pub. L. 111–148, § 9023(b)(2)Par. (6). , (3), added par. (6).

Pub. L. 111–52009—Par. (5). added par. (5).

Pub. L. 109–582005— struck out “and” at end of par. (1), struck out period at end of par. (2), and added pars. (3) and (4).

Pub. L. 108–3572004— inserted “and” at end of par. (1), substituted a period for “, and” at end of par. (2), and struck out par. (3) which read as follows: “the reforestation credit.”

Pub. L. 101–508, § 11813(a)1990—, amended section generally, substituting present provisions for provisions relating to amount of investment credit, determination of percentages, qualified investments and qualified progress expenditures, limitations with respect to certain persons, a limitation in the case of certain regulated companies, a 50 percent credit in the case of certain vessels, and special rule for cooperatives.

Pub. L. 101–508, § 11406Dec. 31, 1991Sept. 30, 1990Subsec. (b)(2)(A). , substituted “” for “” in table items (viii) C. and (ix) B.

Pub. L. 101–239, § 7106Sept. 30, 1990Dec. 31, 19891989—Subsec. (b)(2)(A). , substituted “” for “” in table items (viii) C., (ix) B., and (x).

Pub. L. 101–239, § 7814(d)Pub. L. 100–647, § 4006, made technical correction to language of , see 1988 Amendment note below.

Pub. L. 100–647, § 4006Pub. L. 101–239, § 7814(d)1988—Subsec. (b)(2)(A). , as amended by , substituted “1989” for “1988” in table items (viii) C., (ix) B., and (x).

Pub. L. 100–647, § 1013(a)(44)Subsec. (c)(5)(B). , substituted “private activity bonds” for “industrial development bonds” in heading, and in text substituted “a private activity bond (within the meaning of section 141)” for “an industrial development bond (within the meaning of section 103(b)(2))”.

Pub. L. 100–647, § 1002(a)(17)Subsec. (c)(7). , substituted “property to which section 168 applies” for “recovery property” in heading, substituted “property to which section 168 applies” for “recovery property” and “168(e)” for “168(c)” in subpar. (A), substituted “168(e)” for “168(c)” in subpar. (B), and inserted “(as in effect on the day before the date of the enactment of the Tax Reform Act of 1986)” after “section 168(f)(3)(B)” in concluding provisions.

Pub. L. 100–647, § 1002(a)(25)(A)Subsec. (d)(1)(B)(i). , substituted “property to which section 168 applies” for “recovery property (within the meaning of section 168)”.

Pub. L. 100–647, § 1002(a)(25)(B)Subsec. (d)(1)(B)(ii). , substituted “to which section 168 does not apply” for “which is not recovery property (within the meaning of section 168)”.

Pub. L. 100–647, § 1002(a)(15)Subsec. (e)(3). , substituted “property to which section 168 applies” for “recovery property (within the meaning of section 168)”, “class life” for “present class life”, and “168(i)(1)” for “168(g)(2)”.

Pub. L. 100–647, § 1002(a)(4)(A)Subsec. (e)(4)(B). , substituted “168(i)(3)” for “168(j)(6)”.

Pub. L. 100–647, § 1009(a)(1)Subsec. (e)(4)(C). , inserted provisions at end which provided that any such election shall terminate effective with respect to the 1st taxable year of the organization making such election which begins after 1986, and which defined “regular investment tax credit property”.

Pub. L. 100–647, § 1002(a)(4)(B)Subsec. (e)(4)(D). , substituted “paragraphs (5) and (6) of section 168(h)” for “paragraphs (8) and (9) of section 168(j)”.

Pub. L. 100–647, § 1002(a)(4)(C)Subsec. (e)(4)(E). , (D), substituted “168(h)” for “168(j)” and “168(h)(2)” for “168(j)(4)”.

Pub. L. 99–514, § 1847(b)(11)ll1986—Subsec. (b)(2)(A). , substituted “48()(3)(A)(viii)” for “48()(3)(A)(vii)” in table item (ii).

Pub. L. 99–514, § 421(a), inserted table items (viii) to (xi).

Pub. L. 99–514, § 421(b)Subsec. (b)(2)(E). , added subpar. (E).

Pub. L. 99–514, § 251(a)Subsec. (b)(4). , in amending par. (4) generally, substituted in subpar. (A) definition of “rehabilitation percentage” for former table specifying specific rehabilitation percentages, reenacted subpar. (B), and struck out subpar. (C) which related to definitions.

Pub. L. 99–514, § 1844(a)Subsec. (c)(8)(D)(v). , substituted “this subparagraph” for “clause (i)”.

Pub. L. 99–514, § 201(d)(7)(B), substituted “section 465(b)(3)(C)” for “section 168(e)(4)”.

Pub. L. 99–514, § 1844(b)(3)Subsec. (c)(9)(A). , substituted “an increase in the credit base for” for “additional qualified investment in”.

Pub. L. 99–514, § 1844(b)(5)Subsec. (c)(9)(C)(i). , substituted “any increase in a taxpayer’s credit base for any property by reason of this paragraph shall be taken into account as if it were property placed in service by the taxpayer in the taxable year in which the property referred to in subparagraph (A) was first placed in service” for “any increase in a taxpayer’s qualified investment in property by reason of this paragraph shall be deemed to be additional qualified investment made by the taxpayer in the year in which the property referred to in subparagraph (A) was first placed in service”.

Pub. L. 99–514, § 1802(a)(6)Subsec. (e)(4)(D), (E). , (8), added subpars. (D) and (E).

Pub. L. 99–514, § 1848(a)Subsec. (f)(9). , struck out par. (9) which related to a special rule for additional credit.

Pub. L. 98–369, § 474o1984—Subsec. (a). ()(1), amended subsec. (a) generally, so as to contain provisions relating to amount of investment credit, which formerly constituted only par. (2)(A)(i), (ii), and (iv) of subsec. (a).

Pub. L. 98–369, § 713(c)(1)(C)Subsec. (a)(4). , substituted “premature distributions to key employees” for “premature distributions to owner-employees”.

Pub. L. 98–369, § 474oSubsec. (b). ()(1), amended subsec. (b) generally, substituting provisions relating to determination of percentages for purposes of subsec. (a), for provisions relating to carryback and carryover of unused credits.

Pub. L. 98–369, § 13(b)(2)(B)Subsec. (c)(7)(A). , inserted “recovery” before first reference to “property”.

Pub. L. 98–369, § 431(a)Subsec. (c)(8). , substituted “Certain nonrecourse financing excluded from credit base” for “Limitation to amount at risk” in heading.

Pub. L. 98–369, § 431(a)Subsec. (c)(8)(A). , substituted provisions reducing the credit base of any property to which this paragraph applies by the nonqualified nonrecourse financing with respect to such property for provisions relating to limitation of the basis to the amount at risk in the case of new or used section 38 property placed in service during the taxable year by a taxpayer described in section 465(a)(1) and used in connection with an activity with respect to which any loss was subject to limitation under section 465.

Pub. L. 98–369, § 431(a)Subsec. (c)(8)(B). , substituted provisions relating to the property to which this paragraph applies for provisions defining “at risk” and stating the circumstances under which a taxpayer would be considered to be at risk for purposes of this paragraph.

Pub. L. 98–369, § 431(a)Subsec. (c)(8)(C). , substituted provisions defining “credit base” for provisions relating to a special rule for partnerships and subchapter S corporations.

Pub. L. 98–369, § 431(a)Subsec. (c)(8)(D). , substituted provisions defining “nonqualified nonrecourse financing” for provisions defining “qualified person”.

Pub. L. 98–369, § 16(a)Pub. L. 97–34, § 302(c)Subsec. (c)(8)(D)(i)(I). , repealed amendments made by . See 1981 Amendment note below.

Pub. L. 98–369, § 431(a)Subsec. (c)(8)(E). , substituted provisions relating to the application of this paragraph to partnerships and subchapter S corporations for provisions defining “related person”.

Pub. L. 98–369, § 431(d)(1)Subsec. (c)(8)(F)(i). , substituted provisions that subpar. (A) shall not apply with respect to qualified energy property for provisions that subpar. (A) would not apply to amounts borrowed with respect to qualified energy property (other than amounts described in subpar. (B)).

Pub. L. 98–369, § 474oSubsec. (c)(8)(F)(ii)(II). ()(2), substituted “subsection (b)(2)” for “section 46(a)(2)(C)”.

Pub. L. 98–369, § 431(d)(2)Subsec. (c)(8)(F)(ii)(III). , substituted provisions that qualified energy property means energy property to which (but for this subpar.) subpar. (A) applies and not more than 75 percent of the basis of which is attributable to nonqualified nonrecourse financing for provisions that qualified energy property meant energy property to which (but for this subpar.) subpar. (A) applied and with respect to which the taxpayer was at risk (within the meaning of section 465(b) without regard to par. (5) thereof) in an amount equal to at least 25 percent of the basis of the property.

Pub. L. 98–369, § 431(d)(3)Subsec. (c)(8)(F)(ii)(IV). , substituted “nonqualified nonrecourse financing” for “nonrecourse financing (other than financing described in section 46(c)(8)(B)(ii))”.

Pub. L. 98–369, § 431(b)(1)Subsec. (c)(9). , substituted provisions relating to subsequent decreases in nonqualified nonrecourse financing with respect to the property for provisions relating to subsequent increases in the taxpayer’s amount at risk with respect to the property.

Pub. L. 98–369, § 474oSubsec. (e)(1). ()(3)(A), struck out “and the $25,000 amount specified under subparagraphs (A) and (B) of subsection (a)(3)”, and substituted “such qualified investment” for “such items”, in provisions following subpar. (B).

Pub. L. 98–369, § 474oSubsec. (e)(2). ()(3)(B), substituted “qualified investment” for “the items described therein” in introductory provisions.

Pub. L. 98–369, § 31(b)Subsec. (e)(4). , added par. (4).

Pub. L. 98–369, § 474oSubsec. (f)(1). ()(4)(A), substituted “no credit determined under subsection (a) shall be allowed by section 38” for “no credit shall be allowed by section 38” in introductory provisions.

Pub. L. 98–369, § 474oSubsec. (f)(1)(A), (B). ()(4)(B), substituted “the credit determined under subsection (a) and allowable by section 38” for “the credit allowable by section 38”.

Pub. L. 98–369, § 474oSubsec. (f)(2). ()(4)(A), substituted “no credit determined under subsection (a) shall be allowed by section 38” for “no credit shall be allowed by section 38” in introductory provisions.

Pub. L. 98–369, § 474oSubsec. (f)(2)(A), (B). ()(4)(B), substituted “the credit determined under subsection (a) and allowable by section 38” for “the credit allowable by section 38”.

Pub. L. 98–369, § 474oSubsec. (f)(4)(B). ()(4)(C), substituted “the credit determined under subsection (a) and allowed by section 38” for “the credit allowed by section 38” in introductory provisions.

Pub. L. 98–369, § 474oSubsec. (f)(8). ()(5), substituted “the credit determined under subsection (a) and allowable under section 38” for “the credit allowable under section 38” in two places, and “(within the meaning of the first sentence of subsection (c)(3)(B))” for “(within the meaning of subsection (a)(7)(C))”.

Pub. L. 98–369, § 474oSubsec. (g)(2). ()(6), substituted “the limitation of section 38(c)” for “the limitation of subsection (a)(3)”.

Pub. L. 98–369, § 474oSubsec. (h)(1). ()(7), substituted “the credit determined under subsection (a) and allowable to the organization under section 38” for “the credit allowable to the organization under section 38” and “the limitation contained in section 38(c)” for “the limitation contained in subsection (a)(3)”.

Pub. L. 97–424, § 546(b)1983—Subsec. (a)(2)(C)(i). , added section VII to the table.

Pub. L. 97–448, § 202(f)January 1, 1983January 1, 1983Subsec. (a)(2)(C)(iii)(I). , substituted “before , all engineering studies in connection with the commencement of the construction of the project have been completed and all environmental and construction permits required under Federal, State, or local law in connection with the commencement of the construction of the project have been applied for, and” for “before , the taxpayer has completed all engineering studies in connection with the commencement of the construction of the project, and has applied for all environmental and construction permits required under Federal, State, or local law in connection with the commencement of the construction of the project, and”.

Pub. L. 97–448, § 102(f)(5)(A)Subsec. (a)(2)(F)(iii)(II). , substituted “a qualified rehabilitated building” for “any building”.

Pub. L. 97–448, § 102(f)(5)(B)Subsec. (a)(2)(F)(iii)(III). , substituted “means a qualified rehabilitated building which meets the requirements of section 48(g)(3)” for “has the meaning given to such term by section 48(g)(3)”.

Pub. L. 98–21Subsec. (a)(4)(B). substituted “relating to credit for the elderly and the permanently and totally disabled” for “relating to credit for the elderly”.

Pub. L. 97–448, § 102(e)(1)Subsec. (c)(7). , substituted “in the case of property other than 3-year property (within the meaning of section 168(c))” for “in the case of 15-year public utility, 10-year, or 5-year property (within the meaning of section 168(c))” in subpar. (A) and, in provisions following subpar. (B), substituted “shall be treated as property which is not 3-year property” for “shall be treated as 5-year property”.

Pub. L. 97–424, § 541(b)Subsec. (f)(10). , added par. (10).

Pub. L. 97–248, § 205(b)(1)1982—Subsec. (a)(3)(B). , substituted “85 percent” for “the following percentage”, substituted a period for the colon, and struck out table of percentages at end of subpar. (B).

Pub. L. 97–354, § 5(a)(4)Subsec. (a)(4). , substituted “section 1374 (relating to tax on certain capital gains of S corporations)” for “section 1378 (relating to tax on certain capital gains of subchapter S corporations)”.

Pub. L. 97–248, §§ 201(d)(8)(A), formerly 201(c)(8)(A), 265(b)(2)(A), substituted “(relating to corporate minimum tax)” for “(relating to minimum tax for tax preferences)” after “section 56”, and inserted “section 72(q)(1) (relating to 5-percent tax on premature distributions under annuity contracts),” after “owner-employees)”.

Pub. L. 97–248, § 205(b)(2)Subsec. (a)(7). , redesignated par. (9) as (7), and, in par. (7)(B), as so redesignated, substituted reference to 85 percent for former reference to the percentage determined under subsec. (a)(3)(B) in cl. (i), struck out former cl. (ii), which provided that pars. (7) and (8) would not apply in certain instances, and redesignated former cl. (iii) as (ii). Former par. (7), which provided for alternative limitations in the case of certain utilities, was struck out.

Pub. L. 97–248, § 205(b)(2)(A)Subsec. (a)(8). , struck out par. (8) which provided for alternative limitations in the case of certain railroads and airlines.

Pub. L. 97–248, § 205(b)(2)(A)Subsec. (a)(9). , redesignated par. (9) as (7).

Pub. L. 97–354, § 5(a)(5)Subsec. (c)(8)(C). , substituted “S corporation” for “electing small business corporation (within the meaning of section 1371(b))”.

Pub. L. 97–354, § 5(a)(6)Subsec. (e)(3). , substituted “an S corporation” for “an electing small business corporation (as defined in section 1371)”.

Pub. L. 97–34, § 212(a)(1)1981—Subsec. (a)(2)(A)(iv). , added cl. (iv).

Pub. L. 97–34, § 332(a)December 31, 1982December 31, 1983Subsec. (a)(2)(E). , substituted “” for “” in cls. (i) and (ii) and added cl. (iii).

Pub. L. 97–34, § 212(a)(2)Subsec. (a)(2)(F). , added subpar. (F).

Pub. L. 97–34, § 207(c)(1)Dec. 31, 1973Subsec. (b)(1). , inserted provision after subpar. (D) directing that, in the case of an unused credit for an unused credit year ending after , this paragraph be applied by substituting “15” for “7” in subpar. (B) and by substituting “18” for “10” and “17” for “9” in second sentence.

Pub. L. 97–34, § 211(e)(1)Subsec. (c)(2). , inserted references in provisions preceding table to exceptions provided in paragraphs (3), (6), and (7).

Pub. L. 97–34, § 211(e)(2)Subsec. (c)(6)(A). , substituted “Notwithstanding paragraph (2) or (3)” for “Notwithstanding paragraph (2)” and inserted “or which is recovery property (within the meaning of section 168),” after “3 years or more,”.

Pub. L. 97–34, § 211(a)(1)Subsec. (c)(7). , added par. (7).

Pub. L. 97–34, § 211(f)(1)Subsec. (c)(8). , added par. (8).

Pub. L. 97–34, § 302(c)(3)Dec. 31, 1984Section 16(a) of Pub. L. 98–369section 302(c) of Pub. L. 97–34Subsec. (c)(8)(D)(i)(I). , (d)(1), provided that, applicable to taxable years beginning after , subsection (c)(8)(D)(i)(I) of this section (relating to limitation to amount at risk) is amended by striking out “clause (i), (ii), or (iii) of subparagraph (A) or subparagraph (B) of section 128(c)(2)” and inserting in lieu thereof “subparagraph (A) or (B) of section 128(c)(1)”. , repealed , and provided that this title shall be applied and administered as if section 302(c), and the amendments made by section 302(c), had not been enacted.

Pub. L. 97–34, § 211(f)(1)Subsec. (c)(9). , added par. (9).

Pub. L. 97–34, § 211(b)(1)Subsec. (d)(1). , designated existing provisions as subpar. (A), substituted “an amount equal to the aggregate of the applicable percentage of each qualified progress expenditure for the taxable year” for “an amount equal to his aggregate qualified progress expenditures for the taxable year” in subpar. (A) as so designated, and added subpar. (B).

Pub. L. 97–34, § 211(b)(2)Subsec. (d)(2)(A)(ii). , struck out “having a useful life of 7 years or more” after “it is reasonable to believe will be new section 38 property”.

Pub. L. 97–34, § 211(d)Subsec. (e)(3). , in provisions following subpar. (B), inserted provision that, for purposes of subpar. (B), in the case of any recovery property (within the meaning of section 168), the useful life be the present class life for such property (as defined in section 168(g)(2)).

Pub. L. 96–222, § 101(a)(7)(L)(iii)(I)1980—Subsec. (a)(2)(A). , substituted “employee plan” for “ESOP”.

Pub. L. 96–223, § 221(a)Oct. 1, 1978Dec. 31, 1985Oct. 1, 1978Dec. 31, 1982Subsec. (a)(2)(C). , revised provisions relating to energy percentage by substituting a tabular format embracing separate coverage for solar, wind, or geothermal property, ocean thermal property, qualified hydroelectric generating property, and biomass property using percentages varying between 10 and 15 percent and covering periods from , to , with longer periods for certain long-term projects and certain hydroelectric generating property for provisions that had set the energy percentage at 10 percent for the period beginning , and ending , and zero with respect to any other period.

Pub. L. 96–223, § 222(e)(2)Subsec. (a)(2)(D). , inserted provision that in the case of any qualified hydroelectric generating property which is a fish passageway, the special rule for certain energy property embraced in the first sentence would not apply to any period after 1979 for which the energy percentage for such property is greater than zero.

Pub. L. 96–222, § 101(a)(7)(L)(v)(I)December 31, 1983Subsec. (a)(2)(E). , (M)(i), substituted in heading “employee plan” for “ESOP” and in cls. (i) and (ii) inserted “and ending on” before “”.

Pub. L. 96–222, § 103(a)(2)(B)(i)section 312(b)(2) of Pub. L. 95–600Subsec. (a)(9). , redesignated par. (10) as (9). A former par. (9) was previously repealed by .

Pub. L. 96–223, § 223(b)(1)(A)Subsec. (a)(9)(A). , inserted “and” at end of cl. (i), substituted a period for “(other than solar wind energy property), and” at end of cl. (ii), and struck out cl. (iii) which had provided for the application of so much of the credit allowed by section 38 as was attributable to the application of the energy percentage to solar or wind energy property.

Pub. L. 96–223Subsec. (a)(9)(B). . § 223(b)(1)(B), struck out “other than solar or wind energy property” after “energy property” in heading.

Pub. L. 96–222, § 103(a)(2)(B)(ii), (iii), substituted “paragraph (3)(B) shall be applied by substituting ‘100 percent’ for the percentage determined under the table contained in such paragraph” for “paragraph (3)(C) shall be applied by substituting ‘100 percent’ for ‘50 percent’ ” in cl. (i) and “(7) and (8)” for “(7), (8), and (9)” in cl. (ii).

Pub. L. 96–223, § 223(b)(1)(C)Subsec. (a)(9)(C). , struck out subpar. (C) which related to a refundable credit for solar or wind energy property.

Pub. L. 96–222, § 103(a)(2)(B)(i)Subsec. (a)(10). , redesignated par. (10) as (9).

Pub. L. 96–222, § 103(a)(3)Subsec. (c)(5)(B). , inserted provisions requiring that this subparagraph not apply for purposes of applying the energy percentage.

Pub. L. 96–222, § 103(a)(4)(A)Subsec. (e)(3). , inserted provisions requiring that this paragraph not apply with respect to any property which is treated as section 38 property by reason of section 48(a)(1)(E).

Pub. L. 95–600, § 312(c)(2)Pub. L. 96–222, § 103(a)(2)(A)Subsec. (f)(1), (2). , as amended by , substituted “ ‘described in section 50 (as in effect before its repeal by the Revenue Act of 1978)’ ” for “ ‘described in section 50’ ”.

Pub. L. 96–222, § 107(a)(3)(A)Subsec. (f)(8). , substituted “subsection (a)(7)(C)” for “subsection (a)(7)(D)”.

Pub. L. 96–222, § 101(a)(7)(A)Subsec. (f)(9). , substituted in provisions preceding subpar. (A) “subparagraph (E) of subsection (a)(2)” for “subparagraph (B) of subsection (a)(2)” and in subpar. (A) “a tax credit employee stock ownership plan which meets the requirements of section 409A” for “an employee ownership plan which meets the requirements of section 301(d) of the Tax Reduction Act of 1975”.

Pub. L. 95–618, § 301(a)(1)1978—Subsec. (a)(2). , among other changes, inserted provisions relating to an alternative energy property tax credit which would pay for a certain percentage of the cost of equipment which uses sources of energy other than oil and gas and of associated pollution control, handling, and preparation equipment.

Pub. L. 95–600, § 311(a)Subsec. (a)(2)(B). , made 10 percent limitation on investment tax credit permanent.

Pub. L. 95–600, § 141(e)December 31, 1983December 31, 1980Subsec. (a)(2)(E). , (f)(2), substituted “” for “and ending on ” wherever appearing, “section 48(n)(1)(B)” for “section 301(e) of the Tax Reduction Act of 1975” and “section 409A” for “section 301(d) of the Tax Reduction Act of 1975”.

Pub. L. 95–600, § 312(a)Subsec. (a)(3). , increased the present 50 percent tax liability limitation to 90 percent, to be phased in at an additional 10 percentage points per year beginning with taxable years which end in 1979.

Pub. L. 95–600, § 312(b)(1)Subsec. (a)(7). , in subpar. (A) substituted “the taxable year ending in 1979” for “a taxable year ending after calendar year 1974 and before calendar year 1981”, “subparagraph (B)” for “subparagraph (C)”, and “for ‘60 percent’ the taxpayer’s” for “for 50 percent his” and inserted “the application of this paragraph results in a percentage higher than 60 percent,” before “then subparagraph (B)”; in subpar. (B) substituted “70 percent” for “50 percent plus the tentative percentage for such year”; struck out former subpar. (C), which related to the determination of the tentative percentage, and redesignated former subpar. (D) as (C).

Pub. L. 95–600, § 312(b)(2)Subsec. (a)(8). , in subpar. (A) substituted “the taxable year ending in 1979” for “a taxable year ending after calendar year 1976, and before calendar year 1983”, “subparagraph (B)” for “subparagraph (C)”, and “for ‘60 percent’ (‘70 percent’ in the case of a taxable year ending in 1980) the taxpayer’s” for “for 50 percent his” and inserted reference to airline property and “the application of this paragraph results in a percentage higher than 60 percent (70 percent in the case of a taxable year ending in 1980),” before “then subparagraph (B)”; in subpar. (B) inserted reference to airline property and substituted “90 percent (80 percent in the case of a taxable year ending in 1980)” for “50 percent plus the tentative percentage for such year”; in subpar. (C) table struck out tentative percentage of 50 for 1977 or 1978, 20 for 1981, and 10 for 1982; and added subpar. (E).

Pub. L. 95–600, § 312(b)(2)Subsec. (a)(9). , struck out par. (9) which related to the alternative limitation in the case of certain airlines.

Pub. L. 95–618, § 301(c)(1)Subsec. (a)(10). , added par. (10).

Pub. L. 95–618, § 301(a)(2)(A)January 1, 1981Subsec. (c)(3)(A). , substituted “For the period beginning on , in the case of any property” for “To the extent that subsection (a)(2)(C) applies to property” and inserted provisions that the preceding sentence not apply for purposes of applying the energy percentage.

Pub. L. 95–600, § 311(c)(1)January 1, 1981, substituted “To the extent that the credit allowed by section 38 with respect to any public utility property is determined at the rate of 7 percent” for “For the period beginning on ”.

Pub. L. 95–600, § 313(a)Subsec. (c)(5). , increased the investment credit available to pollution control facilities which a taxpayer has elected to amortize over a five-year period to a full investment credit from a one-half investment credit.

Pub. L. 95–618, § 241(a)Subsec. (c)(6). , added par. (6).

Pub. L. 95–600, § 316(b)(1)Subsec. (e)(1)(C). , struck out subpar. (C) which related to a cooperative organization described in section 1381(a).

Pub. L. 95–600, § 316(b)(2)Subsec. (e)(2)(C). , struck out subpar. (C) which related to a cooperative organization.

Pub. L. 95–600, § 312(c)(2)Subsec. (f)(1), (2). , struck out “described in section 50” after “with respect to any property”. See 1980 Amendment note above.

Pub. L. 95–618, § 301(a)(2)(B)Subsec. (f)(8). , substituted “, the Tax Reform Act of 1976, and the Energy Tax Act of 1978” for “and the Tax Reform Act of 1976”.

Pub. L. 95–600, §§ 311(c)(2), 703(a)(1), substituted “subsection (a)(7)(D)” for “subsection (a)(6)(D)” and inserted reference to the Revenue Act of 1978.

Pub. L. 95–600, § 703(a)(2)Subsec. (g)(5). , substituted “Merchant Marine Act, 1936” for “Merchant Marine Act, 1970”.

Pub. L. 95–600, § 316(a)Subsec. (h). , added subsec. (h).

Pub. L. 94–455, § 802(a)(2)1976—Subsec. (a)(1). , added par. (1) and struck out former par. (1) which related to the percentage of allowable credit under section 38.

Pub. L. 94–455, § 802(a)(2)Subsec. (a)(2). , added par. (2). Former par. (2) redesignated (3).

Pub. L. 94–455, § 802(a)(1)Subsec. (a)(3). , redesignated former par. (2) as (3). Former par. (3) redesignated (4).

Pub. L. 94–455Pub. L. 95–600, § 703(j)(9)Subsec. (a)(4). , §§ 503(b)(4), 802(a)(1), (b)(1), 1901(a)(4)(A), (b)(1)(C), as amended by , redesignated former par. (3) as (4), and in par. (4) as so redesignated, redesignated former subpar. (C) as (B) and substituted in provisions preceding subpar. (A) “paragraph (3)” for “paragraph (2)”, in subpar. (B) as so redesignated “credit for the elderly” for “retirement income”, and in provisions following subpar. (B) “section 408(f)” for “section 408(e)”. Former par. (4) redesignated (5).

Pub. L. 94–455, § 802(a)(1)Subsec. (a)(5). , (b)(1), redesignated former par. (4) as (5) and substituted “paragraph (3)” for “paragraph (2)”. Former par. (5) redesignated (6).

Pub. L. 94–455Subsec. (a)(6). , §§ 802(a)(1), (b)(1), 1906(b)(13)(A), redesignated former par. (5) as (6) and substituted “paragraph (3)” for “paragraph (2)” and struck out “or his delegate” after “Secretary”. Former par. (6) redesignated (7).

Pub. L. 94–455, § 802(a)(1)Subsec. (a)(7). , (b)(1), redesignated former par. (6) as (7) and substituted “paragraph (3)” for “paragraph (2)”.

Pub. L. 94–455, § 1701(b)Subsec. (a)(8). , added par. (8).

Pub. L. 94–455, § 1703Subsec. (a)(9). , added par. (9).

Pub. L. 94–455, § 802(b)(2)Subsec. (b). , among other changes, inserted requirement that tax credits carried over are applied first to the tax liability for that year, after which tax credits earned currently are then applied.

Pub. L. 94–455, § 802(b)(3)Subsec. (c)(3)(A). , substituted “subsection (a)(2)(C)” for “subsection (a)(1)(C)”.

Pub. L. 94–455, § 1901(a)(4)(B)47 U.S.C. 222(a)(5)Subsec. (c)(3)(B)(iii). , substituted “” for “47 U.S.C., sec. 222(a)(5)”.

Pub. L. 94–455, § 2112(a)(2)Subsec. (c)(5). , added par. (5).

Pub. L. 94–455, § 1906(b)(13)(A)Subsec. (d)(4)(D), (6). , struck out “or his delegate” after “Secretary”.

Pub. L. 94–455, § 802(b)(4)Subsec. (e)(1)(C). , substituted “subsection (a)(3)” for “subsection (a)(2)”.

Pub. L. 94–455, § 1607(b)(1)(B)Subsec. (e)(2). , substituted in subpar. (B) “857(b)(2)(B)” for “857(b)(2)(C)” and inserted in provisions following subpar. (C) reference to determine without regard to any deduction for capital gains dividends (as defined in section 857(b)(3)(C)) and by excluding any net capital gain.

Pub. L. 94–455, § 1906(b)(13)(A)Subsec. (f)(1)(B), (2), (3). , struck out “or his delegate” after “Secretary”.

Pub. L. 94–455, § 803(b)(1)(A)Subsec. (f)(4)(A). , (B), substituted “paragraphs (1), (2), and (9)” for “paragraphs (1) and (2)” and “paragraph (1), (2), or (9)” for “paragraph (1) or (2)” wherever appearing.

Pub. L. 94–455, § 803(b)(1)(C)Subsec. (f)(4)(B)(ii). , substituted “paragraph (2) or the election described in paragraph (9),” for “paragraph (2),”.

Pub. L. 94–455, § 1906(b)(13)(A)Subsec. (f)(7). , struck out “or his delegate” after “Secretary”.

Pub. L. 94–455Subsec. (f)(8). , §§ 802(b)(5), 1906(b)(13)(A), inserted reference to the Tax Reform Act of 1976 and struck out “or his delegate” after “Secretary”.

Pub. L. 94–455, § 803(a)Subsec. (f)(9). , added par. (9).

Pub. L. 94–455, § 805(a)Subsec. (g). , added subsec. (g).

Pub. L. 94–12, § 301(a)1975—Subsec. (a)(1). , designated existing provisions as subpar. (A), substituted “Except as otherwise provided in this paragraph, in the case of a property described in subparagraph (D), the” for “The”, “10 percent” for “7 percent”, and “(as determined under subsections (c) and (d))” for “(as defined in subsection (c))” in subpar. (A) as so designated, and added subpars. (B), (C), and (D).

Pub. L. 94–12, § 301(b)(2)Subsec. (a)(6). , added par. (6).

Pub. L. 94–12, § 301(b)(1)Subsec. (c)(3)(A). , substituted “To the extent that subsection (a)(1)(C) applies to property which is public utility property, the” for “In the case of section 38 property which is public utility property, the”.

Pub. L. 94–12, § 302(b)(1)Subsec. (c)(4). , added par. (4).

Pub. L. 94–12, § 302(a)Subsecs. (d), (e). , added subsec. (d) and redesignated former subsec. (d) as (e). Former subsec. (e) redesignated (f) and amended.

Pub. L. 94–12Subsec. (f). , §§ 301(b)(3), 302(a), redesignated former subsec. (e) as (f) and in subsec. (f) as so redesignated added par. (8).

Pub. L. 93–4061974—Subsec. (a)(3). inserted reference to section 402(e) (relating to tax on lump sum distributions), section 72(m)(5)(B) (relating to 10 percent tax on premature distributions to owner-employees), and section 408(e) (relating to additional tax on income from certain retirement accounts).

Pub. L. 92–178, § 106(b)January 1, 1971December 31, 19701971—Subsec. (b)(1). , inserted concluding sentence “In the case of an unused credit for an unused credit year ending before , which is an investment credit carryover to a taxable year beginning after (determined without regard to this sentence), this paragraph shall be applied by substituting ‘10 taxable years’ for ‘7 taxable years’ in subparagraph (B) and by substituting ‘13 taxable years’ for ‘10 taxable years’ and ‘12 taxable years’ for ‘9 taxable years’ in the preceding sentence.”

Pub. L. 92–178, § 106(a)Subsec. (b)(3). , added par. (3).

Pub. L. 92–178, § 106(c)(1)December 31, 1968April 18, 1969April 18, 1969January 1, 1972April 18, 1969August 15, 1971January 1, 1972August 15, 1971Subsec. (b)(5). , substituted “Certain taxable years ending in 1969, 1970, or 1971” for “Taxable years beginning after , and ending after ” in heading; substituted “ending after , and before ,” for “ending after ,”; and provided that “In the case of a taxable year ending after , and before , the percentage contained in the preceding sentence shall be increased by 6 percentage points for each month (or portion thereof) in the taxable year after ”.

Pub. L. 92–178, § 106(c)(2)April 18, 1969January 1, 1971April 18, 1969Subsec. (b)(6). , substituted “ending after , and before ,” for “ending after ,” and “following the 7th taxable year after the unused credit year” for “following the last taxable year for which such portion may be added under paragraph (1)”, respectively.

Pub. L. 92–178, § 102(a)(1)Subsec. (c)(2). , (b), substituted “3 years”, “5 years”, and “7 years” for “4 years” (once), “6 years” (twice), and “8 years” (twice), respectively in tables of first sentence and substituted in second sentence “subpart” for “paragraph” and “useful life of any property shall be the useful life used in computing the allowance for depreciation under section 167 for the taxable year in which the property is placed in service” for “useful life of any property shall be determined as of the time such property is placed in service by the taxpayer”.

Pub. L. 92–178, § 105(a)⁴₇³₇Subsec. (c)(3)(A). , substituted the fraction of “⁄” for “⁄”.

Pub. L. 92–178, § 105(b)(1)Subsec. (c)(3)(B). , (2), struck out cl. (iii) provisions respecting telephone service, redesignated cl. (iv) as (iii), included in cl. (iii) provision of former cl. (iii) respecting telephone service, included other communication services (other than international telegraph service), and defined term “public utility property” to also mean communication property of type used by persons engaged in providing telephone or microwave communication services to which cl. (iii) applies, if such property is used predominantly for communication purposes, respectively.

Pub. L. 92–178, § 105(b)(3)Subsec. (c)(3)(C). , added subpar. (C).

Pub. L. 92–178, § 107(a)(1)Subsec. (c)(4). , struck out provisions respecting reduction in basis or cost of certain replacement property.

Pub. L. 92–178, § 108(a)Subsec. (d)(3). , added par. (3).

Pub. L. 92–178, § 105(c)Subsec. (e). , added subsec. (e).

Pub. L. 91–172, § 301(b)(4)1969—Subsec. (a)(3). , inserted “section 56 (relating to minimum tax for tax preference),”.

Pub. L. 91–172, § 401(e)(1)Subsec. (a)(5). , reenacted subsection with minor changes and substituted reference to section 1563(a) for reference to section 1504.

Pub. L. 91–172, § 703(b)Subsec. (b)(5), (6). , added pars. (5) and (6).

Pub. L. 90–2251967—Subsec. (b). struck out par. (3) which provided that to the extent that the excess described in par. (1) of this subsection arises by reason of net operating loss carryback, subpar. (A) of par. (1) of this subsection shall not apply.

Pub. L. 89–800, § 3(a)1966—Subsec. (a)(2). , inserted “for taxable years ending on or before the last day of the suspension period (as defined in section 48(j)),” at beginning of subpar. (B), and added subpar. (C) and provisions following subpar. (C) covering the application of subpar. (C) and the reduction of the amount otherwise determined under par. (2) by the credit allowable but for the application of section 48(h)(1).

Pub. L. 89–389Subsec. (a)(3). inserted reference to tax imposed for the taxable year by section 1378 (relating to tax on certain capital gains of subchapter S corporations) in the list of taxes not to be considered tax imposed by this chapter for purposes of par. (3).

Pub. L. 89–384 added any additional tax imposed for the taxable year by section 1351 (relating to recoveries of foreign expropriation losses) to the list of taxes not to be considered a tax imposed by this chapter for purposes of par. (3).

Pub. L. 89–800, § 3(b)Subsec. (b)(1). , substituted “7 taxable years” for “5 taxable years” in subpar. (B) and “10 taxable years” and “other 9 taxable years” for “8 taxable years” and “other 7 taxable years”, respectively, in text following subpar. (B).

Pub. L. 88–2721964—Subsec. (a)(3)(B) to (D). struck out subpar. (B) relating to section 34, and redesignated subpars. (C) and (D) as (B) and (C), respectively.

Statutory Notes and Related Subsidiaries

Effective Date of 2022 Amendment

Pub. L. 117–169Dec. 31, 2024section 13702(c) of Pub. L. 117–169section 48E of this titleAmendment by applicable to property placed in service after , see , set out as an Effective Date note under .

Pub. L. 117–167Dec. 31, 2022Jan. 1, 2023Aug. 9, 2022section 107(f) of Pub. L. 117–167section 905 of Title 2Amendment by applicable to property placed in service after , and, for any property the construction of which begins prior to , only to the extent of the basis thereof attributable to the construction, reconstruction, or erection after , see , set out as a note under , The Congress.

Effective Date of 2010 Amendment

Pub. L. 111–148, title IX, § 9023(f)Mar. 23, 2010124 Stat. 883

Effective Date of 2009 Amendment

Pub. L. 111–5, div. B, title I, § 1302(d)Feb. 17, 2009123 Stat. 348

Effective Date of 2005 Amendment

Pub. L. 109–58, title XIII, § 1307(d)Aug. 8, 2005119 Stat. 1006

Effective Date of 2004 Amendment

Pub. L. 108–357, title III, § 322(e)Oct. 22, 2004118 Stat. 1476

Effective Date of 1990 Amendment

section 11813(a) of Pub. L. 101–508Dec. 31, 1990section 49(e) of this titlesection 46(d) of this titlesection 46(b)(2)(C) of this titleNov. 4, 1990section 11813(c) of Pub. L. 101–508section 45K of this titleAmendment by applicable to property placed in service after , but not applicable to any transition property (as defined in ), any property with respect to which qualified progress expenditures were previously taken into account under , and any property described in , as such sections were in effect on , see , set out as a note under .

Effective Date of 1989 Amendment

section 7814(d) of Pub. L. 101–239Pub. L. 100–647section 7817 of Pub. L. 101–239section 1 of this titleAmendment by effective, except as otherwise provided, as if included in the provision of the Technical and Miscellaneous Revenue Act of 1988, , to which such amendment relates, 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 sections 1002(a)(4), (15), (17), (25), 1009(a)(1), and 1013(a)(44) 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 .

Effective Date of 1986 Amendment

section 201(d)(7)(B) of Pub. L. 99–514Dec. 31, 1986Pub. L. 99–514section 168 of this titleAmendment by applicable to property placed in service after , in taxable years ending after such date, with exceptions, see sections 203 and 204 of , set out as a note under .

Pub. L. 99–514, title II, § 251(d)Oct. 22, 1986100 Stat. 2186Pub. L. 100–647, title I, § 1002(k)Nov. 10, 1988102 Stat. 3371

Pub. L. 99–514, title IV, § 421(c)Oct. 22, 1986100 Stat. 2229

Pub. L. 99–514Pub. L. 98–369, div. Asection 1881 of Pub. L. 99–514section 48 of this titleAmendment by sections 1802(a)(6), (8), 1844(a), (b)(3), (5), 1847(b)(11), 1848(a) 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 of 1984 Amendment

section 16 of Pub. L. 98–369Dec. 31, 1983section 18(a) of Pub. L. 98–369section 48 of this titleAmendment by applicable to taxable years ending after , see , set out as a note under .

section 31(f) of Pub. L. 98–369section 31(g) of Pub. L. 98–369Nov. 5, 1983Nov. 5, 1983section 593 of this titleNov. 5, 1983Pub. L. 98–369section 168 of this titleAmendment by effective, except as otherwise provided in , as to property placed in service by the taxpayer after , in taxable years ending after such date and to property placed in service by the taxpayer on or before , if the lease to the organization described in is entered into after , see section 31(g)(1), (14) of , set out as a note under .

section 113(b)(2)(B) of Pub. L. 98–369Pub. L. 97–34section 168 of this titlesection 113(c)(2)(B) of Pub. L. 98–369section 168 of this titleAmendment by applicable as if included in the amendments by sections 201(a), 211(a)(1), and 211(f)(1) of , which amended this section and enacted , see , set out as a note under .

Pub. L. 98–369, div. A, title IV, § 431(e)July 18, 198498 Stat. 810

oPub. L. 98–369Dec. 31, 1983section 475(a) of Pub. L. 98–369section 21 of this titleAmendment by section 474()(1)–(7) of applicable to taxable years beginning after , and to carrybacks from such years, see , set out as a note under .

section 713 of Pub. L. 98–369Pub. L. 97–248section 715 of Pub. L. 98–369section 31 of this titleAmendment by effective as if included in the provision of the Tax Equity and Fiscal Responsibility Act of 1982, , to which such amendment relates, see , set out as a note under .

Effective Date of 1983 Amendment

section 122(c)(1) of Pub. L. 98–21Dec. 31, 1983section 105(d)(6) of this titleApr. 20, 1983Dec. 31, 1983section 122(d) of Pub. L. 98–21section 22 of this titleAmendment by applicable to taxable years beginning after , except that if an individual’s annuity starting date was deferred under as in effect on the day before , such deferral shall end on the first day of such individual’s first taxable year beginning after , see , set out as a note under .

Pub. L. 97–448Pub. L. 97–34section 109 of Pub. L. 97–448section 1 of this titleAmendment by title I of effective, except as otherwise provided, as if it had been included in the provision of the Economic Recovery Tax Act of 1981, , to which such amendment relates, see , set out as a note under .

section 202(f) of Pub. L. 97–448Pub. L. 96–223section 203(a) of Pub. L. 97–448section 6652 of this titleAmendment by effective, except as otherwise provided, as if it had been included in the provision of the Crude Oil Windfall Profit Tax Act of 1980, , to which such amendment relates, see , set out as a note under .

Pub. L. 97–424, title V, § 541(c)Jan. 6, 198396 Stat. 2193Pub. L. 99–514, § 2Oct. 22, 1986100 Stat. 2095

Effective Date of 1982 Amendment

Pub. L. 97–354Dec. 31, 1982section 6(a) of Pub. L. 97–354section 1361 of this titleAmendment by applicable to taxable years beginning after , see , set out as an Effective Date note under .

Pub. L. 97–248Dec. 31, 1982section 201(e)(1) of Pub. L. 97–248section 5 of this titleAmendment by section 201(d)(8)(A), formerly section 201(c)(8)(A), of , applicable to taxable years beginning after , see , set out as a note under .

Pub. L. 97–248, title II, § 205(c)(2)Sept. 3, 198296 Stat. 431

section 265(b)(2)(A)(i) of Pub. L. 97–248Dec. 31, 1982section 265(c)(2) of Pub. L. 97–248section 72 of this titleAmendment by applicable to distributions after , see , set out as a note under .

Effective Date of 1981 Amendment

section 207(c)(1) of Pub. L. 97–34Dec. 31, 1973section 209(c)(2)(A) of Pub. L. 97–34section 168 of this titleAmendment by applicable to unused credit years ending after , see , set out as an Effective Date note under .

Pub. L. 97–34, title II, § 211(i)Aug. 13, 198195 Stat. 235

Pub. L. 97–34, title II, § 212(e)Aug. 13, 198195 Stat. 239Pub. L. 97–448, title I, § 102(f)(1)Jan. 12, 198396 Stat. 2371Pub. L. 99–514, § 2Oct. 22, 1986100 Stat. 2095

Pub. L. 97–34, title III, § 332(c)(1)Aug. 13, 198195 Stat. 296

Effective Date of 1980 Amendment

section 222(e)(2) of Pub. L. 96–223Dec. 31, 1979section 48(m) of this titlesection 222(j)(1) of Pub. L. 96–223section 48 of this titleAmendment by applicable to periods after , under rules similar to the rules of , see , set out as a note under .

Pub. L. 96–223, title II, § 223(b)(3)Apr. 2, 198094 Stat. 266

Effective Date of 1978 Amendment

Pub. L. 95–600Dec. 31, 1978section 141(g)(1) of Pub. L. 95–600section 409 of this titleAmendment by section 141(e), (f)(2) of effective with respect to qualified investment for taxable years beginning after , see , set out as an Effective Date note under .

Pub. L. 95–600, title III, § 312(d)Nov. 6, 197892 Stat. 2826

Pub. L. 95–600, title III, § 313(b)Nov. 6, 197892 Stat. 2827

Pub. L. 95–600, title III, § 316(c)Nov. 6, 197892 Stat. 2830

Pub. L. 95–600, title VII, § 703(r)Nov. 6, 197892 Stat. 2944

Effective Date of 1976 Amendment

section 503(b)(4) of Pub. L. 94–455Dec. 31, 1975section 508 of Pub. L. 94–455section 3 of this titleAmendment by applicable to taxable years beginning after , see , set out as a note under .

Pub. L. 94–455, title VIII, § 802(c)Oct. 4, 197690 Stat. 1583

Pub. L. 94–455, title VIII, § 803(j)Oct. 4, 197690 Stat. 1591

Pub. L. 94–455, title VIII, § 805(b)Oct. 4, 197690 Stat. 1597Pub. L. 99–514, § 2Oct. 22, 1986100 Stat. 2095

section 1607(b)(1)(B) of Pub. L. 94–455Oct. 4, 1976section 1608(c) of Pub. L. 94–455section 857 of this titleAmendment by applicable to taxable years ending after , with certain exceptions, see , set out as a note under .

Pub. L. 94–455Dec. 31, 1976section 1901(d) of Pub. L. 94–455section 2 of this titleAmendment by section 1901(a)(4)(A), (B), (b)(1)(C) of applicable with respect to taxable years beginning after , see , set out as a note under .

Pub. L. 94–455, title XXI, § 2112(d)(1)Oct. 4, 197690 Stat. 1906

Effective Date of 1975 Amendment

Pub. L. 94–12, title III, § 301(b)(4)Mar. 29, 197589 Stat. 38

Pub. L. 94–12, title III, § 305(a)Mar. 29, 197589 Stat. 45

Effective Date of 1974 Amendment

section 2001(g)(2)(B) of Pub. L. 93–406Dec. 31, 1975section 2001(i)(5) of Pub. L. 93–406section 72 of this titleAmendment by applicable to distributions made in taxable years beginning after , see , set out as a note under .

section 2002(g)(2) of Pub. L. 93–406Jan. 1, 1975section 2002(i)(2) of Pub. L. 93–406section 4973 of this titleAmendment by effective on , see , set out as an Effective Date note under .

section 2005(c)(4) of Pub. L. 93–406Dec. 31, 1973Dec. 31, 1973section 2005(d) of Pub. L. 93–406section 402 of this titleAmendment by applicable only with respect to distributions or payments made after , in taxable years beginning after , see , set out as a note under .

Effective Date of 1971 Amendment

Pub. L. 92–178, title I, § 102(d)(1)Dec. 10, 197185 Stat. 500Pub. L. 99–514, § 2Oct. 22, 1986100 Stat. 2095

Pub. L. 92–178, title I, § 105(d)Dec. 10, 197185 Stat. 505Pub. L. 99–514, § 2Oct. 22, 1986100 Stat. 2095

Pub. L. 92–178, title I, § 106(d)Dec. 10, 197185 Stat. 506

Pub. L. 92–178, title I, § 107(a)(2)Dec. 10, 197185 Stat. 507

Pub. L. 92–178, title I, § 108(d)Dec. 10, 197185 Stat. 508

Effective Date of 1969 Amendment

section 301(b)(4) of Pub. L. 91–172Dec. 31, 1969section 301(c) of Pub. L. 91–172section 5 of this titleAmendment by applicable to taxable years ending after , see , set out as a note under .

section 401(e)(1) of Pub. L. 91–172Dec. 31, 1970section 401(h)(3) of Pub. L. 91–172section 1561 of this titleAmendment by applicable with respect to taxable years ending on or after , see , set out as a note under .

Effective Date of 1967 Amendment

Pub. L. 90–225, § 2(g)Dec. 27, 196781 Stat. 732

Effective Date of 1966 Amendment

Pub. L. 89–800, § 4Nov. 8, 196680 Stat. 1514

Pub. L. 89–389, § 2(c)Apr. 14, 196680 Stat. 114

Pub. L. 89–384December 31, 1964section 1351(b) of this titleDecember 31, 1958section 2 of Pub. L. 89–384section 1351 of this titleAmendment by applicable with respect to amounts received after , in respect of foreign expropriation losses (as defined in ) sustained after , see , set out as an Effective Date note under .

Effective Date of 1964 Amendment

Pub. L. 88–272Dec. 31, 1964section 201(e) of Pub. L. 88–272section 22 of this titleAmendment by applicable with respect to dividends received after , in taxable years ending after such date, see , set out as a note under .

Effective Date

Pub. L. 87–834, § 2(h)Oct. 16, 196276 Stat. 973

Savings Provision

section 11813(a) of Pub. L. 101–508Nov. 5, 1990Nov. 5, 1990section 11821(b) of Pub. L. 101–508section 45K 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. 99–514Jan. 1, 1989section 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 .

Clarification of Effect of 1984 Amendment on Investment Tax Credit

Pub. L. 98–369, title IV, § 475(c)July 18, 198498 Stat. 847

Regulated Public Utilities; Special Transitional Rule

Pub. L. 97–34, title II, § 209(d)(2)Aug. 13, 198195 Stat. 227Pub. L. 99–514, § 2Oct. 22, 1986100 Stat. 2095

Plan Requirements for Taxpayers Electing Additional Credits

Pub. L. 94–12, title III, § 301(d)Mar. 29, 197589 Stat. 38Pub. L. 94–455, title VIIIOct. 4, 197690 Stat. 1583–1588Pub. L. 95–600, title I, § 141(f)(1)Nov. 6, 197892 Stat. 2795–(f), , , as amended by , §§ 802(b)(7), 803(c)–(e), , , relating to plan requirements for taxpayers electing additional credit, was repealed by , , .

Public Utility Property Subject to Subsec. (e); Provisions Respecting Treatment of Investment Credit by Federal Regulatory Agencies Inapplicable

Pub. L. 92–178, title I, § 105(e)Dec. 10, 197185 Stat. 506Pub. L. 99–514, § 2Oct. 22, 1986100 Stat. 2095