Section, added June 29, 1956, ch. 463, Section 1, 70 Stat. 402; amended Mar. 31, 1976, Pub. L. 94-253, Section 1(a), (d), 90 Stat. 295, 296; Oct. 4, 1976, Pub. L. 94-455, title XIX, Section 1901(a)(53), (b)(10)(A), (14)(B), (C), 90 Stat. 1773, 1795, 1796; Nov. 6, 1978, Pub. L. 95-600, title III, Section 369(a), 92 Stat. 2857; Apr. 1, 1980, Pub. L. 96-222, title I, Section 103(a)(14), 94 Stat. 214; Oct. 22, 1986, Pub. L. 99-514, title XVIII, Section 1899A(9), 100 Stat. 2958, related to nonrecognition of gain or loss in certain railroad reorganizations.

Savings Provision

For provisions that nothing in repeal 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 45K of this title.

PART V - CARRYOVERS

Sec.

381.

Carryovers in certain corporate acquisitions.

382.

Limitation on net operating loss carryforwards and certain built-in losses following ownership change.

383.

Special limitations on certain excess credits, etc.

384.

Limitation on use of preacquisition losses to offset built-in gains.

Amendments

1987 - Pub. L. 100-203, title X, Section 10226(b), Dec. 22, 1987, 101 Stat. 1330-415, added item 384.

1986 - Pub. L. 99-514, title VI, Section 621(c)(2), Oct. 22, 1986, 100 Stat. 2266, substituted "Limitation on net operating loss carryforwards and certain built-in losses following ownership change" for "Special limitations on net operating loss carryovers" in item 382 and "Special limitations on certain excess credits, etc." for "Special limitations on unused business credits, research credits, foreign taxes, and capital losses" in item 383.

1984 - Pub. L. 98-369, div. A, title IV, Section 474(r)(12)(C), July 18, 1984, 98 Stat. 842, substituted "unused business credits, research credits, foreign taxes, and capital losses" for "carryovers of unused investment credits, work incentive program credits, new employee credits, alcohol fuel credits, research credits, employee stock ownership credits, foreign taxes, and capital losses" in item 383.

1981 - Pub. L. 97-34, title II, Section 221(b)(1)(E), title III, Section 331(d)(1)(E), Aug. 13, 1981, 95 Stat. 246, 295, inserted references to alcohol fuel credits, research credits, and employee stock ownership credits in item 383. For applicability of amendment by section 221(b)(1)(E) to amounts paid or incurred after June 30, 1981, and before Jan. 1, 1986, see section 221(d) of Pub. L. 97-34, set out as an Effective Date note under section 30 of this title.

1977 - Pub. L. 95-30, title II, Section 202(d)(3)(D), May 23, 1977, 91 Stat. 148, inserted "new employee credits," after "work incentive program credits," in item 383.

1971 - Pub. L. 92-178, title III, Section 302(b), Dec. 10, 1971, 85 Stat. 521, added item 383.