# 26 U.S.C. § 1379: Transitional rules on enactment

Source: OLRC release point 119-134 <https://uscode.house.gov/us/usc/119-134/t26/s1379>. Cite pinpoints as 26 U.S.C. § 1379(a)(1).

## § 1379(a) Old elections

Any election made under section 1372(a) (as in effect before the enactment of the Subchapter S Revision Act of 1982) shall be treated as an election made under section 1362.

## § 1379(b) References to prior law included

Any references in this title to a provision of this subchapter shall, to the extent not inconsistent with the purposes of this subchapter, include a reference to the corresponding provision as in effect before the enactment of the Subchapter S Revision Act of 1982.

## § 1379(c) Distributions of undistributed taxable income

If a corporation was an electing small business corporation for the last preenactment year, subsections (f) and (d) of section 1375 (as in effect before the enactment of the Subchapter S Revision Act of 1982) shall continue to apply with respect to distributions of undistributed taxable income for any taxable year beginning before January 1, 1983.

## § 1379(d) Carryforwards

If a corporation was an electing small business corporation for the last preenactment year and is an S corporation for the 1st postenactment year, any carryforward to the 1st post­enactment year which arose in a taxable year for which the corporation was an electing small business corporation shall be treated as arising in the 1st postenactment year.

## § 1379(e) Preenactment and postenactment years defined

For purposes of this subsection—

**§ 1379(e)(1) Last preenactment year.** The term “last preenactment year” means the last taxable year of a corporation which begins before January 1, 1983.

**§ 1379(e)(2) 1st postenactment year.** The term “1st postenactment year” means the 1st taxable year of a corporation which begins after December 31, 1982.

## Regulations

- [Treas. Reg. § 18.1379-1](/26/reg/18.1379-1.md): Transitional rules on enactment. (interprets § 1379)
- [Treas. Reg. § 18.1379-2](/26/reg/18.1379-2.md): Special rules for all elections, consents, and refusals. (interprets § 1379)

## Connections

Cites: § 1362 Election; revocation; termination; § 1372 Partnership rules to apply for fringe benefit purposes; § 1375 Tax imposed when passive investment income of corporation having accumulated earnings and profits exceeds 25 percent of gross receipts

Cited by: none

## Prior provisions

- A prior section 1379, added Pub. L. 91–172, title V, § 531(a), Dec. 30, 1969, 83 Stat. 654; amended Pub. L. 93–406, title II, § 2001(b), Sept. 2, 1974, 88 Stat. 952; Pub. L. 97–34, title III, § 312(c)(6), Aug. 13, 1981, 95 Stat. 284; Pub. L. 97–248, title II, § 238(c), Sept. 3, 1982, 96 Stat. 513, related to certain qualified pension, etc., plans, prior to the general revision of this subchapter by section 2 of Pub. L. 97–354.

## Amendments

- 1982-10-19: [Pub. L. 97-354](/26/act/97-354.md), 96 Stat. 1686
- 1984-07-18: [Pub. L. 98-369](/26/act/98-369.md), 98 Stat. 969