Sec. 1388. Definitions; special rules

SOURCE

AMENDMENTS

  1990 - Subsec. (k). Pub. L. 101-508 struck out subsec. (k) which
cross-referenced section 46(h) for provisions relating to
apportionment of investment credit between cooperative
organizations and their patrons.
  1986 - Subsecs. (j), (k). Pub. L. 99-272 added subsec. (j) and
redesignated former subsec. (j) as (k).
  1978 - Subsec. (j). Pub. L. 95-600 added subsec. (j).
  1976 - Subsec. (c)(2)(B)(i). Pub. L. 94-455, Sec. 1901
(a)(153)(A), substituted ''October 16, 1962'' for ''the date of the
enactment of the Revenue Act of 1962''.
  Subsec. (h)(2)(B)(i). Pub. L. 94-455, Sec. 1901(a)(153)(B),
substituted ''November 13, 1966'' for ''the date of the enactment
of this subsection''.
  1969 - Subsec. (f). Pub. L. 91-172 struck out reference to
allocations made by organizations other than by payment of money or
other property except per-unit retain certificates.
  1966 - Subsec. (e). Pub. L. 89-809, Sec. 211(c)(1), inserted
references to per-unit retain certificates.
  Subsecs. (f) to (i). Pub. L. 89-809, Sec. 211(c)(2), added
subsecs. (f) to (i).

EFFECTIVE DATE OF 1990 AMENDMENT

  Amendment by Pub. L. 101-508 applicable to property placed in
service after Dec. 31, 1990, but not applicable to any transition
property (as defined in section 49(e) of this title), any property
with respect to which qualified progress expenditures were
previously taken into account under section 46(d) of this title,
and any property described in section 46(b)(2)(C) of this title, as
such sections were in effect on Nov. 4, 1990, see section 11813(c)
of Pub. L. 101-508, set out as a note under section 29 of this
title.

EFFECTIVE DATE OF 1986 AMENDMENT

  Section 13210(c) of Pub. L. 99-272 provided that:
  ''(1) In general. - Except as provided in paragraph (2), the
amendments made by this section (amending sections 521 and 1388 of
this title) shall apply to taxable years beginning after December
31, 1962.
  ''(2) Notification requirement. - The provisions of section
1388(j)(3) of the Internal Revenue Code of 1954 (now 1986) (as
added by subsection (a)) shall apply to taxable years beginning on
or after the date of the enactment of this Act (Apr. 7, 1986).
  ''(3) No inference. - Nothing in the amendments made by this
section (amending sections 521 and 1388 of this title) shall be
construed to infer that a change in law is intended as to whether
any patronage earnings may or not be offset by nonpatronage losses,
and any determination of such issue shall be made as if such
amendments had not been enacted.''

EFFECTIVE DATE OF 1978 AMENDMENT

  Amendment by Pub. L. 95-600 applicable to taxable years ending
after October 31, 1978, see section 316(c) of Pub. L. 95-600, set
out as a note under section 46 of this title.

EFFECTIVE DATE OF 1969 AMENDMENT

  Amendment by Pub. L. 91-172 applicable to per-unit retain
allocations made after Oct. 9, 1969, see section 911(c) of Pub. L.
91-172, set out as a note under section 1382 of this title.

EFFECTIVE DATE OF 1966 AMENDMENT

  Amendment by Pub. L. 89-809 applicable to per-unit retain
allocations made during taxable years of an organization described
in section 1381(a) of this title (relating to organizations to
which part I of subchapter T of chapter 1 applies) beginning after
Apr. 30, 1966, with respect to products delivered during such
years, see section 211(e)(1) of Pub. L. 89-809, set out as a note
under section 1382 of this title.

EFFECTIVE DATE

  Section applicable, except as otherwise provided, to taxable
years of organizations described in section 1381(a) of this title
beginning after Dec. 31, 1962, see section 17(c) of Pub. L. 87-834,
set out as a note under section 1381 of this title.

SAVINGS PROVISION

  For provisions that nothing in amendment by Pub. L. 101-508 be
construed to affect treatment of certain transactions occurring,
property acquired, or items of income, loss, deduction, or credit
taken into account prior to Nov. 5, 1990, for purposes of
determining liability for tax for periods ending after Nov. 5,
1990, see section 11821(b) of Pub. L. 101-508, set out as a note
under section 29 of this title.

PER-UNIT RETAIN CERTIFICATES COVERED BY WRITTEN AGREEMENTS BETWEEN OCT. 14, 1965, AND NOV. 13, 1966: TRANSITION TREATMENT OF BY-LAW PROVISIONS

  Section 211(f) of Pub. L. 89-809 provided that a written
agreement between a patron and a cooperative association which met
certain qualifications and was entered into after Oct. 14, 1965 and
before Nov. 13, 1966, and which was in effect on Nov. 13, 1966, was
to be treated for purposes of subsec. (h) of this section as if
entered into after Nov. 13, 1966.

REFERENCES IN TEXT

  The Federal income tax laws, referred to in subsec. (c)(4), are
classified generally to this title.