Pub. L. 99-121 Oct. 11, 1985

99 Stat. 510 · Changed 10 sections of the Code

Bill H.R. 2475

§ 47 Rehabilitation credit

  • (a) Pub. L. 99–121 substituted “For property other than 3-year property” for “For 15-year, 10-year, and 5-year property” in…

§ 48 Energy credit

  • § 48 Pub. L. 99–121 substituted “19” for “18”.

§ 168 Accelerated cost recovery system

  • (b)(2) Pub. L. 99–121, § 103(b)(1)(A), substituted “19-year real property” for “18-year real property” in heading and wherever…
  • (b)(2)(A) Pub. L. 99–121, § 103(a), substituted “19-year recovery period” for “18-year recovery period”.
  • (b)(3)(A) Pub. L. 99–121, § 103(b)(1)(A), substituted “19-year real property” for “18-year real property” in table.
  • (b)(3)(A) Pub. L. 99–121, § 103(b)(2), substituted “19, 35, or 45 years” for “18, 35, or 45” in table.
  • (b)(3)(B) Pub. L. 99–121, § 103(b)(1)(A), substituted “19-year real property” for “18-year real property” wherever appearing.
  • (c) Pub. L. 99–121, § 103(b)(1)(A), substituted “19-year real property” for “18-year real property” in heading and in text.
  • (d)(2)(B) Pub. L. 99–121, § 103(b)(1)(A), substituted “19-year real property” for “18-year real property”.
  • (f)(1)(B) Pub. L. 99–121, § 103(b)(3)(B), substituted “March 15, 1984, and before May, 9, 1985, the” for “March 15, 1984, the”.
  • (f)(1)(B) Pub. L. 99–121, § 103(b)(3)(A), (C), added cl. (iii), redesignated former cl. (iii) as (iv), and in cl. (iv)…
  • (f)(2) (f)(5) Pub. L. 99–121, § 103(b)(1)(A), substituted “19-year real property” for “18-year real property” wherever appearing.
  • (f) Pub. L. 99–121, § 103(b)(4), substituted “19-year real property” for “15-year real property” in heading and wherever…
  • (j) Pub. L. 99–121, § 103(b)(1)(A), substituted “19-year real property” for “18-year real property” wherever appearing in…

§ 280G Golden parachute payments

    § 312 Effect on earnings and profits

    • (k)(3)(A) Pub. L. 99–121 substituted “19-year real property” for “18-year real property” wherever appearing.

    § 483 Interest on certain deferred payments

    • (b) Pub. L. 99–121, § 101(a)(2)(A), struck out “120 percent of” after “discount rate equal to” in closing provisions.
    • (c)(1)(B) Pub. L. 99–121, § 101(a)(2)(B), amended subpar. (B) generally. Prior to amendment, subpar. (B) read as follows: “under…
    • (e) Pub. L. 99–121, § 102(c)(1), (2), redesignated subsec. (f) as (e), and as so redesignated substituted “6 percent” for…
    • (f) Pub. L. 99–121, § 102(c)(1), redesignated subsec. (g) as (f). Former subsec. (f) redesignated (e).
    • (g) § 483 Pub. L. 99–121, § 102(c)(1), (3), redesignated subsec. (h) as (g) and amended it generally, designating existing…

    § 1245 Gain from dispositions of certain depreciable property

    • (a) Pub. L. 99–121 substituted “19-year real property” for “18-year real property”.

    § 1274 Determination of issue price in the case of certain debt instruments issued for property

    • (b)(2)(B) Pub. L. 99–121, § 101(a)(1)(A), struck out “120 percent of” after “rate equal to”.
    • (c)(1)(A)(ii) Pub. L. 99–121, § 101(a)(1)(B), amended cl. (ii) generally, substituting “the imputed principal amount of such debt…
    • (c)(2) Pub. L. 99–121, § 101(a)(1)(C), substituted “the imputed principal amount of such debt instrument determined under…
    • (c)(3) Pub. L. 99–121, § 101(a)(1)(D), redesignated par. (4) as (3). Former par. (3), defining “testing amount”, was struck…
    • (c)(4) Pub. L. 99–121, § 102(b), added par. (4). Former par. (4) redesignated (3).
    • (d)(1)(B) (d)(1)(C) (d)(1)(D) Pub. L. 99–121, § 101(b)(1), amended subpars. (B) to (D) generally, in subpar. (B) substituting provisions setting a…
    • (d)(2) Pub. L. 99–121, § 101(b)(2), amended par. (2) generally. Prior to amendment, par. (2) read as follows: “In the case of…
    • (e) Pub. L. 99–121, § 101(c), added subsec. (e).

    § 1274A Special rules for certain transactions where stated principal amount does not exceed $2,800,000

    § 7872 Treatment of loans with below-market interest rates

    • (c)(1) Pub. L. 99–121, § 201(c)(1), inserted “and subsection (g)” after “this subsection” in provisions preceding subpar. (A).
    • (c)(1)(E) Pub. L. 99–121, § 201(c)(2), substituted “(C), or (F)” for “or (C)”.
    • (c)(1)(F) Pub. L. 99–121, § 201(b), added subpar. (F).
    • (f)(11) Pub. L. 99–121, § 202, added par. (11) relating to time for determining rate applicable to employee relocation loans.
    • (g) (h) Pub. L. 99–121, § 201(a), added subsec. (g) and redesignated former subsec. (g) as (h).