# Pub. L. 93-625: changes to the Internal Revenue Code 1975-01-03, 88 Stat. 2120. Source: . ## Legislative history - Bill: [H.R. 421](https://www.congress.gov/bill/93rd-congress/house-bill/421) ## § 84: Transfer of appreciated property to political organizations - Enacted 26 U.S.C. § 84. ## § 167: Depreciation - § 167: Pub. L. 93–625 substituted “January 1, 1976” for “January 1, 1975”. ## § 169: Amortization of pollution control facilities - § 169(d)(4)(B): Pub. L. 93–625 substituted “January 1, 1976” for “January 1, 1975”. ## § 501: Exemption from tax on corporations, certain trusts, etc. - § 501(b): Pub. L. 93–625 inserted references to part VI of this subchapter. ## § 514: Unrelated debt-financed income - § 514(b)(3)(D): Pub. L. 93–625 struck out last sentence providing for allowance and payment of interest on any overpayment for a taxable year resulting from application of subpar. (B) after actual use condition was satisfied at rate of 4 in lieu of 6 percent per annum. ## § 527: Political organizations - Enacted 26 U.S.C. § 527. ## § 856: Definition of real estate investment trust - § 856(a)(4): Pub. L. 93–625, § 6(b), inserted “(other than foreclosure property, as defined in subsection (e))” after “property”. - § 856(c)(2)(F), § 856(c)(3)(F): Pub. L. 93–625, § 6(d)(1), added subpar. (F) to pars. (2) and (3). - § 856(e): Pub. L. 93–625, § 6(a), added subsec. (e). ## § 857: Taxation of real estate investment trusts and their beneficiaries - § 857(a)(1): Pub. L. 93–625, § 6(d)(2), incorporated existing par. (1) provisions in par. (1) introductory text and provisions designated as subpar. (A), substituted in subpar. (A) “(determined without regard to the deduction for dividends paid (as defined in section 561))” for “(determined without regard to subsection (b)(2)(C))”, and added subpar. (B). - § 857(b)(2)(C): Pub. L. 93–625, § 6(d)(4), provided for computation of deduction for dividends paid without regard to that portion of such deduction which is attributable to the amount excluded under subparagraph (F). - § 857(b)(2)(F): Pub. L. 93–625, § 6(d)(3), added subpar. (F). - § 857(b)(4), § 857(b)(5): Pub. L. 93–625, § 6(c), added par. (4) and redesignated former par. (4) as (5). ## § 861: Income from sources within the United States - § 861(a)(1): Pub. L. 93–625, § 9(a), added subpar. (H). - § 861(c): Pub. L. 93–625, § 8, substituted “1976” for “1975”. ## § 1250: Gain from dispositions of certain depreciable realty - § 1250(a)(1): Pub. L. 93–625 substituted “January 1, 1976” for “January 1, 1975”. ## § 2104: Property within the United States - § 2104(c): Pub. L. 93–625 inserted reference to section 861(a)(1)(H) of this title in last sentence. ## § 2501: Imposition of tax - § 2501(a)(5): Pub. L. 93–625 added par. (5). ## § 6012: Persons required to make returns of income - § 6012(a)(6): Pub. L. 93–625 added par. (6) and struck out provision that Secretary or his delegate shall, by regulation, exempt from requirement of making returns under this section any political committee (as defined in section 301(d) of Federal Election Campaign Act of 1971) having no gross income for taxable year. ## § 6163: Extension of time for payment of estate tax on value of reversionary or remainder interest in property - § 6163(c): Pub. L. 93–625 struck out par. (1) cross reference to interest provisions of section 6601(b) of this title and struck out par. (2) designation of cross reference to security, now incorporated in present subsec. (c) provision. ## § 6167: Extension of time for payment of tax attributable to recovery of foreign expropriation losses - § 6167(e): Pub. L. 93–625, § 7(d)(2), struck out provision that in applying section 6601(j) (relating to the application of the 4-percent interest rate in the case of recoveries of foreign expropriation losses to which this section applies) in the case of a deficiency, the entire amount which was prorated to installments under this section shall be treated as an amount of tax the payment of which was extended under this section. - § 6167(h): Pub. L. 93–625, § 7(d)(3), struck out par. (1) providing a cross reference for payment of interest at 4 percent per annum for period of an extension under section 6601(j) of this title, and redesignated pars. (2) and (3) as (1) and (2), respectively. ## § 6332: Surrender of property subject to levy - § 6332(c): Pub. L. 93–625 substituted “an annual rate established under section 6621” for “the rate of 6 percent per annum”. ## § 6504: Cross references - § 6504: Pub. L. 93–625 substituted reference to section 6601(g) for 6601(h). ## § 6601: Interest on underpayment, nonpayment, or extensions of time for payment, of tax - § 6601(a): Pub. L. 93–625, § 7(a)(2)(A), substituted “an annual rate established under section 6621” for “the rate of 6 percent per annum”. - § 6601(b), § 6601(c), § 6601(d), § 6601(e), § 6601(f), § 6601(g), § 6601(h), § 6601(i), § 6601(j), § 6601(k), § 6601: Pub. L. 93–625, § 7(b)(1), struck out subsec. (b) relating to extensions of time for payment of estate tax, redesignated subsecs. (c) to (i) as (b) to (h), respectively, struck out subsec. (j) relating to extensions of time for payment of tax attributable to recoveries of foreign expropriation losses, and redesignated subsecs. (k) and (l) as (i) and (j), respectively. ## § 6602: Interest on erroneous refund recoverable by suit - § 6602: Pub. L. 93–625 substituted “an annual rate established under section 6621” for “the rate of 6 percent per annum”. ## § 6611: Interest on overpayments - § 6611(a): Pub. L. 93–625 substituted “an annual rate established under section 6621” for “the rate of 6 percent per annum”. ## § 6621: Determination of rate of interest - Enacted 26 U.S.C. § 6621. ## § 6654: Failure by individual to pay estimated income tax - § 6654(a): Pub. L. 93–625 substituted “an annual rate established under section 6621” for “the rate of 6 percent per annum”. ## § 6655: Failure by corporation to pay estimated income tax - § 6655(a), § 6655(g)(1): Pub. L. 93–625 substituted “an annual rate established under section 6621” for “the rate of 6 percent per annum”. ## § 7426: Civil actions by persons other than taxpayers - § 7426(g): Pub. L. 93–625 substituted “an annual rate established under section 6621” for “the rate of 6 percent per annum”.