I.R.C. § 53(a) Allowance Of Credit —
There shall be allowed as a credit against the tax imposed by this chapter for any
taxable year an amount equal to the minimum tax credit for such taxable year.
I.R.C. § 53(b) Minimum Tax Credit —
For purposes of subsection (a), the minimum tax credit for any taxable year is the excess (if any) of—
I.R.C. § 53(b)(1) —
the adjusted net minimum tax imposed for all prior taxable years beginning after
1986, over
I.R.C. § 53(b)(2) —
the amount allowable as a credit under subsection (a) for such prior taxable years.
I.R.C. § 53(c) Limitation —
The credit allowable under subsection (a) for any taxable year shall not exceed the excess (if any) of—
I.R.C. § 53(c)(1) —
the regular tax liability of the taxpayer for such taxable year reduced by the sum
of the credits allowable under subparts A, B, D, E, and F of this part, over
I.R.C. § 53(c)(2) —
the tentative minimum tax for the taxable year.
I.R.C. § 53(d) Definitions —
For purposes of this section—
I.R.C. § 53(d)(1) Net Minimum Tax
I.R.C. § 53(d)(1)(B) Credit Not Allowed For Exclusion Preferences
I.R.C. § 53(d)(1)(B)(i) Adjusted Net Minimum Tax —
The adjusted net minimum tax for any taxable year is—
I.R.C. § 53(d)(1)(B)(i)(I) —
the amount of the net minimum tax for such taxable year, reduced by
I.R.C. § 53(d)(1)(B)(i)(II) —
the amount which would be the net minimum tax for such taxable year if the only adjustments
and items of tax preference taken into account were those specified in clause (ii).
I.R.C. § 53(d)(1)(B)(ii) Specified Items —
The following are specified in this clause—
I.R.C. § 53(d)(1)(B)(iii) Credit Allowable For Exclusion Preferences Of Corporations
In The Case Of A Corporation
I.R.C. § 53(d)(1)(B)(iii)(I) —
the preceding provisions of this subparagraph shall not apply, and
I.R.C. § 53(d)(1)(B)(iii)(II) —
the adjusted net minimum tax for any taxable year is the amount of the net minimum
tax for such year.
I.R.C. § 53(d)(2) Tentative Minimum Tax —
The term “tentative minimum tax” has the meaning given to such term by
section 55(b), except that in the case of a corporation, the tentative minimum tax shall be treated
as zero.
I.R.C. § 53(d)(3) AMT Term References —
In the case of a corporation, any references in this subsection to section 55, 56,
or 57 shall be treated as a reference to such section as in effect before the amendments
made by Tax Cuts and Jobs Act.
I.R.C. § 53(e) Portion Of Credit Treated As Refundable
I.R.C. § 53(e)(1) In General. —
In the case of any taxable year of a corporation beginning in 2018 or 2019, the limitation
under subsection (c) shall be increased by the AMT refundable credit amount for such
year.
I.R.C. § 53(e)(2) AMT Refundable Credit Amount —
For purposes of paragraph (1), the AMT refundable credit amount is an amount equal
to 50 percent (100 percent in the case of a taxable year beginning in 2019) of the
excess (if any) of—
I.R.C. § 53(e)(2)(A) —
the minimum tax credit determined under subsection (b) for the taxable year, over
I.R.C. § 53(e)(2)(B) —
the minimum tax credit allowed under subsection (a) for such year (before the application
of this subsection for such year).
I.R.C. § 53(e)(3) Credit Refundable —
For purposes of this title (other than this section), the credit allowed by reason
of this subsection shall be treated as a credit allowed under subpart C (and not this
subpart).
I.R.C. § 53(e)(4) Short Taxable Years —
In the case of any taxable year of less than 365 days, the AMT refundable credit amount
determined under paragraph (2) with respect to such taxable year shall be the amount
which bears the same ratio to such amount determined without regard to this paragraph
as the number of days in such taxable year bears to 365.
I.R.C. § 53(e)(5) Special Rule —
In the case of a corporation making an election under this paragraph—
I.R.C. § 53(e)(5)(A) —
paragraph (1) shall not apply, and
I.R.C. § 53(e)(5)(B) —
subsection (c) shall not apply to the first taxable year of such corporation beginning
in 2018.
(Added by Pub. L. 99-514, title VII, Sec. 701(b), Oct. 22, 1986, 100 Stat. 2339, and amended Pub. L. 100-647, title I, Sec.
1007(g)(4), title VI, Sec. 6304(a), Nov. 10, 1988, 102 Stat. 3435, 3756; Pub. L. 101-239, title VII, Sec. 7612(a)(1), (2), (b)(1), 7811(d)(2), Dec. 19, 1989, 103 Stat. 2373, 2374, 2408; Pub. L. 102-486, title XIX, Sec. 1913(b)(2)(C), Oct. 24, 1992, 106 Stat. 2776; Pub. L. 103-66, title XIII, Sec. 13113(b)(2), 13171(c), Aug. 10, 1993, 107 Stat. 312; Pub. L. 104-188,
title I, Aug. 20, 1996, 110 Stat. 1755; Pub. L. 108-357, title IV, Sec. 421(a)(2), Oct. 22, 2004, 118 Stat. 1418; Pub. L. 109-58, title XIII, Sec. 1322(a)(3)(G), Aug. 8, 2005, 119 Stat. 594; Pub. L. 109-432, div. A, title
IV, Sec. 402(a), Dec. 20, 2006, 120 Stat. 2922; Pub. L. 110-172, Sec. 2(a), Dec. 29, 2007; Pub. L. 110-343, Div. C, title I, Sec. 103, Oct. 3, 2008, 122 Stat. 3765; Pub. L. 111-5, div. B, title I, Sec. 1142(b)(4), Feb. 17, 2009, 123 Stat. 115; Pub. L. 113-295, Div. A, title II, Sec. 221(a)(8)(A)(i), Dec. 19, 2014, 128 Stat. 4010; Pub. L. 115-97, title I, Sec. 12001(b)(2), 12002(a), (b), Dec. 22, 2017, 131 Stat. 2054; Pub. L. 116-136, Div. A, title II, Sec. 2305, Mar. 27, 2020.)
BACKGROUND NOTES
AMENDMENTS
2020 - Subsec. (e)(1). Pub. L. 116-136, Sec. 2305(a)(1), amended par. (1) by substituting “2018 or 2019” for “2018, 2019,
2020, or 2021”.
Subsec. (e)(2). Pub. L. 116-136, Sec. 2305(a)(2), amended par. (2) by substituting “2019”
for “2021”.
Subsec. (e)(5). Pub. L. 116-136, Sec. 2305(b)(1), amended subsec. (e) by adding par. (5).
2017 -
Subsec. (d)(2). Pub. L. 115-97, Sec. 12001(b)(2), amended par. (2) by inserting ‘‘, except that in the case of a corporation,
the tentative minimum tax shall be treated as zero’’ before the period
at the end.
Subsec. (d)(3). Pub. L. 115-97, Sec. 12002(b), amended subsec. (d) by adding par. (3).
Subsec. (e). Pub. L. 115-97, Sec. 12002(a), amended Sec. 53 by adding new subsec. (e).
2014 - Subsec. (e). Pub. L. 113-295, Div. A, Sec. 221(a)(8)(A)(i), struck subsec. (e). Before being struck, it read as
follows:
“(e) Special Rule For Individuals With Long-Term Unused Credits.—
“(1) In General.—If an individual has a long-term unused minimum tax credit
for any taxable year beginning before January 1, 2013, the amount determined under
subsection (c)
for such taxable year shall not be less than the AMT refundable credit amount for
such taxable year.
“(2) AMT Refundable Credit Amount.—For purposes of paragraph (1), the
term “AMT refundable credit amount”
means, with respect to any taxable year, the amount (not in excess of the long-term
unused minimum tax credit for such taxable year)
equal to the greater of—
“(A) 50 percent of the long-term unused minimum tax credit for such taxable
year, or
“(B) the amount (if any) of the AMT refundable credit amount determined under
this paragraph for the taxpayer's preceding taxable year (determined without regard
to subsection (f)(2)).
“(3) Long-Term Unused Minimum Tax Credit.—
“(A) In General.—For purposes of this subsection, the term “long-term
unused minimum tax credit”
means, with respect to any taxable year, the portion of the minimum tax credit determined
under subsection (b) attributable to the adjusted net minimum tax for taxable years
before the 3rd taxable year immediately preceding such taxable year.
“(B) First-In, First-Out Ordering Rule.—For purposes of subparagraph (A),
credits shall be treated as allowed under subsection (a) on a first-in, first-out
basis.
“(4) Credit Refundable.—For purposes of this title (other than this section),
the credit allowed by reason of this subsection shall be treated as if it were allowed
under subpart C.”
Subsec. (f). Pub. L. 113-295, Div. A, Sec. 221(a)(8)(A)(i), struck subsec. (f). Before being struck, it read as
follows:
“(f) Treatment Of Certain Underpayments, Interest, And Penalties Attributable
To The Treatment Of Incentive Stock Options.—
“(1) Abatement.—Any underpayment of tax outstanding on the date of the
enactment of this subsection which is attributable to the application of section 56(b)(3)
for any taxable year ending before January 1, 2008, and any interest or penalty with
respect to such underpayment which is outstanding on such date of enactment, is hereby
abated. The amount determined under subsection
(b)(1) shall not include any tax abated under the preceding sentence.
“(2) Increase In Credit For Certain Interest And Penalties Already Paid.—The
AMT refundable credit amount, and the minimum tax credit determined under subsection
(b), for the taxpayer's first 2 taxable years beginning after December 31, 2007, shall
each be increased by 50 percent of the aggregate amount of the interest and penalties
which were paid by the taxpayer before the date of the enactment of this subsection
and which would (but for such payment) have been abated under paragraph (1).”
2009 — Subsec. (d)(1)(B)(iii)-(iv). Pub. L. 111-5, Div. B, Sec. 1142(b)(4)(A), amended subpar. (B) by striking clause (iii) and redesignating
clause
(iv) as clause (iii). Before being struck, clause (iii) read as follows:
“(iii) Special Rule.— The adjusted net minimum tax for the taxable year
shall be increased by the amount of the credit not allowed under section 30 solely
by reason of the application of section 30(b)(3)(B).”
Subsec. (d)(1)(B)(iii)(II). Pub. L. 111-5, Div. B, Sec. 1142(b)(4)(B), amended subclause (II) by striking “increased
in the manner provided in clause (iii)”.
2008 - Subsec. (e)(2). Pub. L. 110-343, Div. C, Sec. 103(a), amended par. (2). Before amendment it read as follows:
“(2) AMT Refundable Credit Amount.—For
purposes of paragraph (1)—
“(A) In General.— The term “AMT refundable credit amount”
means, with respect to any taxable year, the amount (not in excess of the long-term
unused minimum tax credit for such taxable year) equal to the greater of--(i) $5,000,
(ii)
20 percent of the long-term unused minimum tax credit for such taxable year, or (iii)
the amount (if any) of the AMT refundable credit amount determined under this paragraph
for the taxpayer's preceding taxable year (as determined before any reduction under
subparagraph (B)).
“(B) Phaseout Of AMT Refundable Credit Amount.—
“(i) In General.—In the case of an individual whose adjusted gross income
for any taxable year exceeds the threshold amount (within the meaning of section
151(d)(3)(C)), the AMT refundable credit amount determined under subparagraph (A)
for such taxable year shall be reduced by the applicable percentage
(within the meaning of section 151(d)(3)(B)).”
“(ii) Adjusted Gross Income.—For purposes of clause (i), adjusted gross
income shall be determined without regard to sections 911, 931, and 933.
Subsec.
(f). Pub. L. 110-343, Div. C, Sec. 103(b), added subsec. (f).
2007 — Subsec. (e)(2)(A). Pub L. 110-172, Sec. 2(a), amended subpar. (A). Before amendment, it read as follows:
“(A) In General. The term “AMT refundable credit amount” means,
with respect to any taxable year, the amount equal to the greater of—
“(i) the lesser of—
“(I) $5,000, or
“(II) the amount of long-term unused minimum tax credit for such taxable year,
or
“(ii) 20 percent of the amount of such credit.”
2006 — Subsec. (e). Pub. L. 109-432, Sec. 402(a), added subsec. (e).
2005 — Subsec. (d)(1)(B)(iii). Pub. L. 109-58, Sec. 1322(a)(3)(G), amended clause (iii) by striking “under section 29” and all that follows
through “or not allowed”.
2004 — Subsec. (d)(1)(B)(i)(II). Pub. L. 108-357, Sec. 421(a)(2), amended subclause (II) by striking “and if section 59(a)(2) did not apply”
at the end.
1996 — Subsec. (d)(1)(B). Pub. L. 104-188, Sec. 1205(d)(5), amended clause (iii) and clause (iv)(II) to read as above. Before amendment, clause
(iii) read as follows:
“(iii) Special rule.—The adjusted net minimum tax for the taxable year
shall be increased by the amount of the credit not allowed under section 29 (relating
to credit for producing fuel from a nonconventional source) solely by reason of the
application of not allowed under section 28 solely by reason of the application of
section 28(d)(2)(B), or not allowed under section 30 solely by reason of the application
of section 30(b)(3)(B).” Before amendment, clause (iv)(II) read as follows:
“(II) the adjusted net minimum tax for any taxable year is the amount of the
net minimum tax for such year increased by the amount of any credit not allowed under
section 29 solely by reason of the application of section 29(b)(5)(B)
or not allowed under section 28 solely by reason of the application of section 28(d)(2)(B).”
Subsec. (d)(1)(B)(iv). Pub. L. 104-188, Sec. 1704(j)(1), amended clause (iv)(II) to read as above. Before amendment, clause
(iv)(II) read as follows:
“(II) the adjusted net minimum tax for any taxable year is the amount of the
net minimum tax for such year increased by the amount of any credit not allowed under
section 29 solely by reason of the application of section 29(b)(5)(B)
or not allowed under section 28 solely by reason of the application of section 28(d)(2)(B).”
1993 — Subsec. (d)(1)(B)(ii)(II). Pub. L. 103-66, Section 13113(b)(2) amended subclause (II) by striking “and (6)” and inserting “(6),
and (8)”.
Subsec. (d)(1)(B)(ii)(II). Pub. L. 103-66, Section 13171(c) amended subclause (II) (as amended by section 13113) by striking “(5), (6),
and (8)” and inserting “(5), and (7)”.
1992 — Subsec. (d)(1)(B)(iii). Pub. L. 102-486, Section 1913(b)(2), as amended by Pub. L. 104-188, Sec. 1702(e)(5), amended subsection (d)(1)(B)(iii)
by striking “section 29(b)(5)(B) or” and inserting “section 29(b)(6)(B),”;
and, by inserting “, or not allowed under section 30 solely by reason of the
application of section 30(b)(3)(B)” before the period.
1989 — Subsec. (d)(1)(B)(i)(II). Pub. L. 101-239, Sec. 7811(d)(2), inserted before period at end ‘and if section 59(a)(2) did not apply’.
Subsec. (d)(1)(B)(ii). Pub. L. 101-239, Sec. 7612(a)(2), substituted ‘subsection (b)(1)’ for ‘subsections (b)(1) and (c)(3)’
in subcl. (I) and struck out at end ‘In the case of taxable years beginning
after 1989, the adjustments provided in section 56(g) shall be treated as specified
in this clause to the extent attributable to items which are excluded from gross income
for any taxable year for purposes of the regular tax, or are not deductible for any
taxable year under the adjusted current earnings method of section 56(g).’
Subsec. (d)(1)(B)(iii). Pub. L. 101-239, Sec. 7612(b)(1), which directed amendment of cl. (iii) by inserting ‘or not allowed under section
28 solely by reason of the application of section 28(d)(2)(B)’
after ‘section 29(d)(5)(B)’, was executed by making the insertion after
‘section 29(b)(5)(B)’, as the probable intent of Congress.
Subsec. (d)(1)(B)(iv). Pub. L. 101-239, Sec. 7612(b)(1), which directed amendment of cl. (iv) by inserting ‘or not allowed under section
28 solely by reason of the application of section 28(d)(2)(B)’
after ‘section 29(d)(5)(B)’, was executed by making the insertion after
‘section 29(b)(5)(B)’ in subcl. (II), as the probable intent of Congress.
Pub. L. 101-239, Sec. 7612(a)(1), added cl. (iv).
1988 — Subsec. (d)(1)(B)(ii). Pub. L. 100-647, Sec. 1007(g)(4), substituted ‘current earnings’ for ‘earnings and profits’
in last sentence.
Subsec. (d)(1)(B)(iii). Pub. L. 100-647, Sec. 6304(a), added cl. (iii).
EFFECTIVE DATE OF 2020 AMENDMENTS
Amendments by Pub. L. 116-136, Sec. 2305, effective for taxable years beginning after December 31, 2017. Pub. L. 116-136, Sec. 2305(d), provided the following special rule:
“(d) SPECIAL RULE.—
“(1) IN GENERAL.—For purposes of the Internal Revenue Code of 1986, a credit or refund for which an application described in paragraph (2)(A)
is filed shall be treated as made under section 6411 of such Code.
“(2) TENTATIVE REFUND.—
“(A) APPLICATION.—A taxpayer may file an application for a tentative refund
of any amount for which a refund is due by reason of an election under section 53(e)(5) of the Internal Revenue Code of 1986. Such application shall be in such manner and form as the Secretary of the
Treasury
(or the Secretary's delegate) may prescribe and shall—
“(i) be verified in the same manner as an application under section 6411(a)
of such Code,
“(ii) be filed prior to December 31, 2020, and
“(iii) set forth—
“(I) the amount of the refundable credit claimed under section 53(e) of such
Code for such taxable year,
“(II) the amount of the refundable credit claimed under such section for any
previously filed return for such taxable year, and
“(III) the amount of the refund claimed.
“(B) ALLOWANCE OF ADJUSTMENTS.—Within a period of 90 days from the date
on which an application is filed under subparagraph (A), the Secretary of the Treasury
(or the Secretary's delegate) shall—
“(i) review the application,
“(ii) determine the amount of the overpayment, and
“(iii) apply, credit, or refund such overpayment, in a manner similar to the
manner provided in section 6411(b) of the Internal Revenue Code of 1986.
“(C) CONSOLIDATED RETURNS.—The provisions of section 6411(c) of the Internal Revenue Code of 1986 Code shall apply to an adjustment under this paragraph to the same extent
and manner as the Secretary of the Treasury (or the Secretary's delegate) may provide.”
EFFECTIVE DATE OF 2017 AMENDMENTS
Amendment by Pub. L. 115-97, Sec. 12001(b)(2), effective for taxable years beginning after December 31, 2017.
Amendment by Pub. L. 115-97, Sec. 12002(a),
(b), effective for taxable years beginning after December 31, 2017.
EFFECTIVE DATE OF 2014 AMENDMENTS
Amendments by Pub. L. 113-295, Div. A, Sec. 221(a)(8)(A)(i), effective on the date of the enactment of this Act
[Enacted: Dec. 19, 2014].
Section 221(b)(2) of Pub. L. 113-295, Div. A, provided the following Savings Provision:
“(2) SAVINGS PROVISION.—If—
“(A) any provision amended or repealed by the amendments made by this section
applied to—
“(i) any transaction occurring before the date of the enactment of this Act
[Enacted: Dec. 19, 2014],
“(ii) any property acquired before such date of enactment, or
“(iii) any item of income, loss, deduction, or credit taken into account before
such date of enactment, and
“(B) the treatment of such transaction, property, or item under such provision
would (without regard to the amendments or repeals made by this section) affect the
liability for tax for periods ending after date of enactment, nothing in the amendments
or repeals made by this section shall be construed to affect the treatment of such
transaction, property, or item for purposes of determining liability for tax for periods
ending after such date of enactment.”
EFFECTIVE DATE OF 2009 AMENDMENTS
Amendments by Div. B, Sec. 1142(b)(4), of Pub. L. 111-5 effective for vehicles acquired after the date of the enactment of this Act [Enacted:
Feb. 17, 2009].
EFFECTIVE DATE OF 2008 AMENDMENTS
Amendment by Div. C, Sec. 103, of Pub. L. 110-343 effective as taxable years beginning after December 31, 2007, except for Sec. 53(f)(1),
added by Act. Sec. 103(b), which is effective on the date of the enactment of this
Act [Enacted: Oct. 3, 2008].
EFFECTIVE DATE OF 2007 AMENDMENT
Amendment by Sec. 2(a) of Pub. L. 110-172 effective as if included in the provision of the Tax Relief and Health Care Act of
2006 [Pub. L. 109-432, Div. A, Sec. 402] to which it relates.
EFFECTIVE DATE OF 2006 AMENDMENT
Amendment by Sec. 402(a) of Pub. L. 109-432 effective for taxable years beginning after the date of the enactment of this Act
[Enacted: Dec. 20, 2006].
EFFECTIVE DATE OF 2005 AMENDMENT
Amendment by Sec. 1322(a)(3)(G) of Pub. L. 109-58 effective for credits determined under the Internal Revenue Code of 1986 for taxable years ending after December 31, 2005.
EFFECTIVE DATE OF 2004 AMENDMENT
Amendment by Sec. 421(a)(2) of Pub. L. 108-357, effective for taxable years beginning after December 31, 2004.
EFFECTIVE DATE OF 1996 AMENDMENT
Sec. 1205(e) of Pub. L. 104-188 provided that: “The amendments made by this section shall apply to amounts
paid or incurred in taxable years ending after June 30, 1996.”
EFFECTIVE DATE OF 1993 AMENDMENT
Amendment by Section 13113(b)(2) of Pub. L. 103-66 effective after the date of the enactment of this Act [enacted: August 10, 1993].
Amendments by Section 13171 of Pub. L. 103-66 shall apply to contributions made after June 30, 1992, except that in the case of
any contribution of capital gain property which is not tangible personal property,
such amendments shall apply only if the contribution is made after December 31, 1992.
EFFECTIVE DATE OF 1992 AMENDMENT
Amendment by Sec. 1913(b)(2)(C)(i) of Pub. L. 102-486, as amended by Pub. L. 104-188, Sec. 1702(e)(5), effective for taxable years beginning after December 31, 1990.
Amendment by Sec. 1913(b)(2)(C)(ii) of Pub. L. 102-486 effective for property placed in service after June 30, 1993.
EFFECTIVE DATE OF 1989 AMENDMENT
Section 7612(a)(3) of Pub. L. 101-239 provided that: ‘The amendments made by this subsection (amending this section)
shall apply for purposes of determining the adjusted net minimum tax for taxable years
beginning after December 31, 1989.’
Section 7612(b)(2) of Pub. L. 101-239 provided that: ‘The amendment made by paragraph (1) (amending this section)
shall apply for purposes of determining the amount of the minimum tax credit for taxable
years beginning after December 31, 1989; except that, for such purposes, section 53(b)(1) of the Internal Revenue Code of 1986 shall be applied as if such amendment had been in effect for all prior taxable
years.'
Amendment by section 7811(d)(2) of Pub. L. 101-239 effective, except as otherwise provided, as if included in the provision of the Technical
and Miscellaneous Revenue Act of 1988, Pub. L. 100-647, to which such amendment relates, see section 7817 of Pub. L. 101-239, set out as a note under section 1 of this title.
EFFECTIVE DATE OF 1988 AMENDMENT
Amendment by section 1007(g)(4) of Pub. L. 100-647 effective, except as otherwise provided, as if included in the provision of the Tax
Reform Act of 1986, Pub. L. 99-514, to which such amendment relates, see section 1019(a) of Pub. L. 100-647, set out as a note under section 1 of this title.
Section 6304(b) of Pub. L. 100-647 provided that: ‘The amendment made by this section (amending this section)
shall take effect as if included in the amendments made by section 701 of the Tax
Reform Act of 1986
(Pub. L. 99-514).'
EFFECTIVE DATE
Section applicable to taxable years beginning after Dec. 31, 1986, with certain exceptions
and qualifications, see section 701(f) of Pub. L. 99-514, set out as an Effective Date of 1986 Amendment note under section 55 of this title.
APPLICABILITY OF CERTAIN AMENDMENTS BY PUB. L. 99-514 IN RELATION TO TREATY OBLIGATIONS OF UNITED STATES
For applicability of amendment by section 701(b)
of Pub. L. 99-514 (enacting this section) notwithstanding any treaty obligation of the United States
in effect on Oct. 22, 1986, with provision that for such purposes any amendment by
title I of Pub. L. 100-647 be treated as if it had been included in the provision of Pub. L. 99-514 to which such amendment relates, see section 1012(aa)(2), (4) of Pub. L. 100-647, set out as a note under section 861 of this title.
PRIOR PROVISIONS
A prior section 53, added Pub. L. 95-30, title II, Sec. 202(b), May 23, 1977, 91 Stat. 146, and amended Pub. L. 95-600, title III, Sec. 321(c)(2), Nov. 6, 1978, 92 Stat. 2835; Pub. L. 97-34, title II, Sec. 207(c)(2), Aug. 13, 1981, 95 Stat. 225; Pub. L. 97-248, title II, Sec. 201(d)(8)(A), formerly Sec. 201(c)(8)(A), and Sec. 265(b)(2)(A)(iii),
Sept. 3, 1982, 96 Stat. 420, 547, redesignated Pub. L. 97-448, title III, Sec. 306(a)(1)(A)(i), Jan. 12, 1983, 96 Stat. 2400; 97-354, Sec. 5(a)(12), Oct. 19, 1982, 96 Stat. 1693; 97-448, title I, Sec. 102(d)(3), Jan. 12, 1983, 96 Stat. 2370; Pub. L. 98-21, title I, Sec. 122(c)(1), Apr. 20, 1983, 97 Stat. 87; Pub. L. 98-369, div. A, title VII, Sec. 713(c)(1)(C), July 18, 1984, 98 Stat. 957, which placed limitations on the amount of credit allowed by former section 44B for
employment of certain new employees, was repealed by Pub. L. 98-369, div. A, title IV, Sec. 474(p)(8), July 18, 1984, 98 Stat. 838, applicable to taxable years beginning after Dec. 31, 1983, and to carrybacks from
such years.
CODIFICATION
Part V, consisting of a prior section 51, was repealed by Pub. L. 94-455, title XIX, 1901(a)(7), Oct. 4, 1976, 90 Stat. 1765. See Prior Provisions note set out under section 51 of this title.
