# Pub. L. 107-90: changes to the Internal Revenue Code

2001-12-21, 115 Stat. 893. Source: <https://www.govinfo.gov/link/plaw/107/public/90>.

## Legislative history

- Bill: [H.R. 10](https://www.congress.gov/bill/107th-congress/house-bill/10)
- House report: [H. Rept. 107-51](https://www.govinfo.gov/content/pkg/CRPT-107hrpt51/html/CRPT-107hrpt51.htm)
- Bluebook: [JCT general explanation (2003)](https://www.govinfo.gov/app/details/CPRT-108JPRT83912)

## § 24: Child tax credit

- § 24(d)(2)(A)(iii): Pub. L. 107–90, as amended by Pub. L. 108–311, § 408(b)(4), substituted “section 3211(a)” for “section 3211(a)(1)”.

## § 72: Annuities; certain proceeds of endowment and life insurance contracts

- § 72(r)(2)(B)(i): Pub. L. 107–90 substituted “3211(b)” for “3211(a)(2)”.

## § 501: Exemption from tax on corporations, certain trusts, etc.

- § 501(c)(28): Pub. L. 107–90 added par. (28).

## § 3201: Rate of tax

- § 3201(b): Pub. L. 107–90 amended heading and text of subsec. (b) generally. Prior to amendment, text read as follows: “In addition to other taxes, there is hereby imposed on the income of each employee a tax equal to 4.90 percent of the compensation received during any calendar year by such employee for services rendered by such employee.”

## § 3211: Rate of tax

- § 3211(a): Pub. L. 107–90, § 204(b), added subsec. (a) and struck out former subsec. (a), which related to imposition of tier 1 and 2 taxes.
- § 3211(b): Pub. L. 107–90, § 204(b), added subsec. (b).
- § 3211(b): Pub. L. 107–90, § 203(a), struck out subsec. (b) which read as follows: “In addition to other taxes, there is hereby imposed on the income of each employee representative a tax at a rate equal to the rate of excise tax imposed on every employer, provided for in section 3221(c), for each man-hour for which compensation is paid to him for services rendered as an employee representative.”
- § 3211(c): Pub. L. 107–90, § 204(b), added subsec. (c).

## § 3221: Rate of tax

- § 3221(b): Pub. L. 107–90, § 204(a), amended heading and text of subsec. (b) generally. Prior to amendment, text read as follows: “In addition to other taxes, there is hereby imposed on every employer an excise tax, with respect to having individuals in his employ, equal to 16.10 percent of the compensation paid during any calendar year by such employer for services rendered to such employer.”
- § 3221(c), § 3221: Pub. L. 107–90, § 203(b), redesignated subsec. (e) as (c) and struck out former subsecs. (c) and (d) which provided, in subsec. (c), for imposition of excise tax on every employer, with respect to having individuals in his employ, for each man-hour for which compensation was paid by such employer for services rendered to him during any calendar quarter, and for credit against such tax of amount equivalent in each month to the aggregate amount of reductions in supplemental annuities accruing in such month to employees of such employer, and, in subsec. (d), that such tax would not apply to an employer with respect to employees covered by a supplemental pension plan which is established pursuant to an agreement reached through collective bargaining between the employer and employees.

## § 3231: Definitions

- § 3231(e)(2)(A)(iii)(II): Pub. L. 107–90, § 204(e)(3), substituted “3211(a)” for “3211(a)(1)”.
- § 3231(e)(2)(B)(ii)(I): Pub. L. 107–90, § 204(e)(4), substituted “3211(b)” for “3211(a)(2)”.
- § 3231(e)(4)(A): Pub. L. 107–90, § 204(e)(3), substituted “3211(a)” for “3211(a)(1)”.

## § 3241: Determination of tier 2 tax rate based on average account benefits ratio

- Enacted 26 U.S.C. § 3241.