Notes on 26 U.S.C. § 509 : US Code - Notes

Search Notes on 26 U.S.C. § 509 : US Code - Notes

(Added Pub. L. 91-172, title I, Sec. 101(a), Dec. 30, 1969, 83
Stat. 496; amended Pub. L. 94-81, Sec. 3(a), Aug. 9, 1975, 89 Stat.
418; Pub. L. 95-345, Sec. 2(a)(1), Aug. 15, 1978, 92 Stat. 481.)
AMENDMENTS
1978 - Subsec. (e). Pub. L. 95-345 inserted provision relating to
payments with respect to securities loans.
1975 - Subsec. (a)(2)(B). Pub. L. 94-81 designated existing
provisions as cl. (i) and added cl. (ii).
EFFECTIVE DATE OF 1978 AMENDMENT
Section 2(e) of Pub. L. 95-345, as amended by Pub. L. 99-514,
Sec. 2, Oct. 22, 1986, 100 Stat. 2095, provided that: "The
amendments made by this section [enacting section 1058 of this
title and amending sections 509, 512, 514, 851, and 4940 of this
title] apply with respect to -
"(1) amounts received after December 31, 1976, as payments with
respect to securities loans (as defined in section 512(a)(5) of
the Internal Revenue Code of 1986 [formerly I.R.C. 1954]), and
"(2) transfers of securities, under agreements described in
section 1058 of such Code, occurring after such date."
EFFECTIVE DATE OF 1975 AMENDMENT
Section 3(b) of Pub. L. 94-81 provided that: "The amendment made
by this section [amending this section] shall apply to unrelated
business taxable income derived from trades and businesses which
are acquired by the organization after June 30, 1975."
EFFECTIVE DATE
Section effective Jan. 1, 1970, see section 101(k)(1) of Pub. L.
91-172, set out as a note under section 4940 of this title.
SAVINGS PROVISION
Applicability of subsec. (a) of this section to testamentary
trusts, see section 101(l)(7) of Pub. L. 91-172, set out as a note
under section 4940 of this title.