Pub. L. 106-170 Dec. 17, 1999

113 Stat. 1919 · Changed 54 sections of the Code

Bill H.R. 1180 · House report H. Rept. 106-220 · Senate report S. Rept. 106-37 · Conference report H. Rept. 106-478 · Bluebook JCT general explanation (2001)

§ 24 Child tax credit

  • (d)(2) Pub. L. 106–170 substituted “2001” for “1998” in introductory provisions.

§ 26 Limitation based on tax liability; definition of tax liability

  • (a) Pub. L. 106–170 reenacted subsec. heading without change and amended text generally. Prior to amendment, text read as…

§ 32 Earned income

  • (c)(3)(B) Pub. L. 106–170 added subcl. (I) and redesignated former subcls. (I) and (II) as (II) and (III), respectively.

§ 41 Credit for increasing research activities

  • (c)(4)(A) Pub. L. 106–170, § 502(b)(1)(A), substituted “2.65 percent” for “1.65 percent”.
  • (c)(4)(A) Pub. L. 106–170, § 502(b)(1)(B), substituted “3.2 percent” for “2.2 percent”.
  • (c)(4)(A) Pub. L. 106–170, § 502(b)(1)(C), substituted “3.75 percent” for “2.75 percent”.
  • (c)(6) (d)(4)(F) Pub. L. 106–170, § 502(c)(1), inserted “, the Commonwealth of Puerto Rico, or any possession of the United States”…
  • (h)(1) Pub. L. 106–170, § 502(a)(1)(B), struck out concluding provisions which read as follows: “Notwithstanding the preceding…
  • (h)(1) Pub. L. 106–170, § 502(a)(1)(A), substituted “June 30, 2004” for “June 30, 1999”.

§ 45 Electricity produced from certain renewable resources, etc.

  • (c)(1)(C) Pub. L. 106–170, § 507(b)(1), added subpar. (C).
  • (c)(3) Pub. L. 106–170, § 507(a), reenacted heading without change and amended text generally. Prior to amendment, text read…
  • (c)(4) Pub. L. 106–170, § 507(b)(2), added par. (4).
  • (d)(6) (d)(7) Pub. L. 106–170, § 507(c), added pars. (6) and (7).

§ 45C Clinical testing expenses for certain drugs for rare diseases or conditions

  • (b)(1) Pub. L. 106–170 substituted “June 30, 2004” for “June 30, 1999”.

§ 51 Amount of credit

  • (c)(4) Pub. L. 106–170, § 505(a), substituted “December 31, 2001” for “June 30, 1999”.
  • (i)(2) Pub. L. 106–170, § 505(b), struck out “during which he was not a member of a targeted group” before period at end.

§ 127 Educational assistance programs

  • (d) Pub. L. 106–170 substituted “December 31, 2001” for “May 31, 2000”.

§ 163 Interest

  • (j)(3) Pub. L. 106–170 added subpar. (C).

§ 170 Charitable, etc., contributions and gifts

  • (e)(3)(A) (e)(4)(B) Pub. L. 106–170, § 532(c)(1)(A), (B), substituted “section 1221(a)” for “section 1221”.
  • (f)(10) Pub. L. 106–170, § 537(a), added par. (10).

§ 198 Expensing of environmental remediation costs

  • (c)(1)(A) Pub. L. 106–170, § 532(c)(2)(A), substituted “section 1221(a)(1)” for “section 1221(1)”.
  • (h) Pub. L. 106–170, § 511, substituted “2001” for “2000”.

§ 263A Capitalization and inclusion in inventory costs of certain expenses

  • (b)(2) Pub. L. 106–170 substituted “1221(a)(1)” for “1221(1)”.

§ 267 Losses, expenses, and interest with respect to transactions between related taxpayers

§ 280C Certain expenses for which credits are allowable

  • (c)(1) Pub. L. 106–170 inserted “or credit” after “deduction” in two places.

§ 367 Foreign corporations

  • (a)(3) Pub. L. 106–170 substituted “section 1221(a)” for “section 1221”.

§ 420 Transfers of excess pension assets to retiree health accounts

  • (b)(1)(C)(iii) Pub. L. 106–170, § 535(b)(2)(A), substituted “cost” for “benefits”.
  • (b) Pub. L. 106–170, § 535(a)(1), substituted “made after December 31, 2005” for “in any taxable year beginning after…
  • (c)(3) Pub. L. 106–170, § 535(b)(1), amended heading and text of par. (3) generally, substituting present provisions for…
  • (e)(1)(D) Pub. L. 106–170, § 535(b)(2)(B), substituted “or in calculating applicable employer cost under subsection (c)(3)(B)”…

§ 453 Installment method

  • (a) Pub. L. 106–170, § 536(a)(1), which substituted “Use of installment method” for “General rule” in subsec. heading…
  • (d)(1) (i)(1) (k) Pub. L. 106–170, § 536(a)(2), which substituted “(a)(1)” for “(a)” wherever appearing, was repealed by Pub. L. 106–573.…

§ 453A Special rules for nondealers

  • (d)(4) Pub. L. 106–170 inserted at end “A payment shall be treated as directly secured by an interest in an installment…

§ 475 Mark to market accounting method for dealers in securities

  • (c)(3) Pub. L. 106–170 substituted “manages” for “reduces”.

§ 543 Personal holding company income

  • (a)(1)(D) Pub. L. 106–170 substituted “1221(a)(1)” for “1221(1)”.

§ 613A Limitations on percentage depletion in case of oil and gas wells

  • (c)(6) Pub. L. 106–170 substituted “January 1, 2002” for “January 1, 2000”.

§ 732 Basis of distributed property other than money

  • (f) Pub. L. 106–170 added subsec. (f).

§ 751 Unrealized receivables and inventory items

  • (d)(1) Pub. L. 106–170 substituted “section 1221(a)(1)” for “section 1221(1)”.

§ 818 Other definitions and special rules

  • (b)(2) Pub. L. 106–170, § 532(c)(3), substituted “section 1221(a)(2)” for “section 1221(2)”.
  • (c)(3) Pub. L. 106–170, § 532(c)(1)(D), substituted “section 1221(a)” for “section 1221”.

§ 852 Taxation of regulated investment companies and their shareholders

  • (c)(3) Pub. L. 106–170, § 566(a)(1), added par. (3).
  • (e)(1) Pub. L. 106–170, § 566(c), inserted at end “If the determination under subparagraph (A) is solely as a result of the…

§ 856 Definition of real estate investment trust

  • (c)(2)(D) (c)(3)(C) Pub. L. 106–170, § 532(c)(2)(H), (I), substituted “section 1221(a)(1)” for “section 1221(1)”.
  • (c)(4)(B) Pub. L. 106–170, § 541(a), amended subpar. (B) generally. Prior to amendment, subpar. (B) read as follows: “not more…
  • (c)(7) Pub. L. 106–170, § 541(b), added par. (7).
  • (d)(1) Pub. L. 106–170, § 542(b)(3)(A)(i), substituted “fair market values” for “adjusted bases” in two places in concluding…
  • (d)(2)(B) Pub. L. 106–170, § 542(b)(2), inserted “except as provided in paragraph (8),” after “(B)” in introductory provisions.
  • (d)(2)(B)(i) Pub. L. 106–170, § 542(b)(3)(B)(i), substituted “value” for “number”.
  • (d)(3) Pub. L. 106–170, § 561(a), inserted concluding provisions.
  • (d)(7)(C)(i) Pub. L. 106–170, § 542(a), inserted “or through a taxable REIT subsidiary of such trust” after “income”.
  • (d)(8) (d)(9) Pub. L. 106–170, § 542(b)(1), added pars. (8) and (9).
  • (e)(1) Pub. L. 106–170, § 532(c)(2)(J), substituted “section 1221(a)(1)” for “section 1221(1)”.
  • (e)(6) Pub. L. 106–170, § 551(a), added par. (6).
  • (i)(2) Pub. L. 106–170, § 543(b), inserted at end “Such term shall not include a taxable REIT subsidiary.”
  • (j)(2)(B) Pub. L. 106–170, § 532(c)(2)(K), substituted “section 1221(a)(1)” for “section 1221(1)”.
  • (l) Pub. L. 106–170, § 543(a), added subsec. (l).

§ 857 Taxation of real estate investment trusts and their beneficiaries

  • (a)(1)(A)(i) (a)(1)(A)(ii) Pub. L. 106–170, § 556(a), substituted “90 percent” for “95 percent (90 percent for taxable years beginning before…
  • (b)(2)(E) Pub. L. 106–170, § 545(b), substituted “paragraphs (5) and (7)” for “paragraph (5)”.
  • (b)(4)(B)(i) Pub. L. 106–170, § 532(c)(2)(L), substituted “section 1221(a)(1)” for “section 1221(1)”.
  • (b)(5)(A)(i) Pub. L. 106–170, § 556(b), substituted “90 percent” for “95 percent (90 percent in the case of taxable years beginning…
  • (b)(6)(B)(iii) Pub. L. 106–170, § 532(c)(2)(M), substituted “section 1221(a)(1)” for “section 1221(1)”.
  • (b)(7) (b)(8) (b)(9) Pub. L. 106–170, § 545(a), added par. (7) and redesignated former pars. (7) and (8) as (8) and (9), respectively.
  • (d)(3)(A) Pub. L. 106–170, § 566(a)(2), amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: “shall be…
  • (d)(3)(B) Pub. L. 106–170, § 566(b), inserted “and section 858” before period at end.

§ 864 Definitions and special rules

§ 865 Source rules for personal property sales

  • (i)(1) Pub. L. 106–170 substituted “section 1221(a)” for “section 1221”.

§ 871 Tax on nonresident alien individuals

  • (h)(4)(C)(iv) Pub. L. 106–170 substituted “to manage” for “to reduce”.

§ 904 Limitation on credit

  • (h) Pub. L. 106–170 inserted at end “This subsection shall not apply to taxable years beginning during 2000 or 2001.”

§ 953 Insurance income

  • (e)(10) Pub. L. 106–170 substituted “taxable years” for “the first taxable year”, “January 1, 2002” for “January 1, 2000”, and…

§ 954 Foreign base company income

  • (c)(1)(B) Pub. L. 106–170, § 532(c)(2)(Q), as amended by Pub. L. 107–147, § 417(24)(B)(ii), substituted “section 1221(a)(1)” for…
  • (h) Pub. L. 106–170, § 503(a), substituted “taxable years” for “the first taxable year”, “January 1, 2002” for “January 1…

§ 988 Treatment of certain foreign currency transactions

§ 995 Taxation of DISC income to shareholders

  • (b)(1)(C) Pub. L. 106–170 substituted “1221(a)(1)” for “1221(1)”.

§ 1017 Discharge of indebtedness

  • (b)(3)(E)(i) Pub. L. 106–170 substituted “1221(a)(1)” for “1221(1)”.

§ 1092 Straddles

  • (a)(3)(B) Pub. L. 106–170 substituted “1221(a)” for “1221”.

§ 1221 Capital asset defined

  • § 1221 Pub. L. 106–170 designated existing provisions as subsec. (a), inserted heading, and added pars. (6) to (8) and subsec.…

§ 1231 Property used in the trade or business and involuntary conversions

  • (b)(1)(C) (b)(1)(D) Pub. L. 106–170 substituted “section 1221(a)” for “section 1221”.

§ 1234 Options to buy or sell

  • (a)(3)(A) Pub. L. 106–170 substituted “section 1221(a)” for “section 1221”.

§ 1256 Section 1256 contracts marked to market

  • (e)(2) Pub. L. 106–170 reenacted heading without change and amended text generally. Prior to amendment, text read as follows…

§ 1260 Gains from constructive ownership transactions

§ 1362 Election; revocation; termination

  • (d)(3)(C)(ii) Pub. L. 106–170 substituted “section 1221(a)(1)” for “section 1221(1)”.

§ 1397C Enterprise zone business defined

  • (e)(2) Pub. L. 106–170 substituted “section 1221(a)(4)” for “section 1221(4)”.

§ 4132 Definitions and special rules

  • (a)(1)(K) Pub. L. 106–170, § 523(b)(1), repealed Pub. L. 105–277, § 1503(a). See 1998 Amendment note below.
  • (a)(1)(L) Pub. L. 106–170, § 523(a)(1), added subpar. (L).

§ 4662 Definitions and special rules

  • (c)(2)(C) Pub. L. 106–170 substituted “section 1221(a)(1)” for “section 1221(1)”.

§ 6050P Returns relating to the cancellation of indebtedness by certain entities

  • (c)(2)(D) Pub. L. 106–170 added subpar. (D).

§ 6103 Confidentiality and disclosure of returns and return information

  • (b)(2)(C) Pub. L. 106–170 added subpar. (C).

§ 6110 Public inspection of written determinations

  • (b)(1) Pub. L. 106–170 inserted at end “Such term shall not include any advance pricing agreement entered into by a taxpayer…

§ 6654 Failure by individual to pay estimated income tax

  • (d)(1)(C)(i) Pub. L. 106–170 in table substituted items assigning applicable percentages of 108.6 for 1999 and 110 for 2000 for item…

§ 6655 Failure by corporation to pay estimated income tax

  • (e)(5) Pub. L. 106–170 added par. (5).

§ 7652 Shipments to the United States

  • (f)(1) Pub. L. 106–170 amended par. (1) generally. Prior to amendment, par. (1) read as follows: “$10.50 ($11.30 in the case…

§ 7704 Certain publicly traded partnerships treated as corporations

§ 9510 Vaccine Injury Compensation Trust Fund

  • (b)(3) Pub. L. 106–170, § 523(b)(1), repealed Pub. L. 105–277, § 1504(a)(2). See 1998 Amendment note below.
  • (c)(1) Pub. L. 106–170, § 523(b)(1), repealed Pub. L. 105–277, § 1504(a)(1). See 1998 Amendment note below.
  • (c)(1)(A) Pub. L. 106–170, § 523(b)(2), substituted “December 31, 1999” for “August 5, 1997”.