‘‘Subject to any applicable statute of limitation not having
expired with regard to either a tax underpayment or a tax
overpayment, the amendments’’.
(e) AMENDMENT RELATED TO SECTION 3401 OF 1998
ACT.—Section 3401(c) of the 1998 Act is amended—
(1) in paragraph (1), by striking ‘‘7443(b)’’ and
inserting ‘‘7443A(b)’’; and
(2) in paragraph (2), by striking ‘‘7443(c)’’ and
inserting ‘‘7443A(c)’’.
(f) AMENDMENT RELATED TO SECTION 3433 OF 1998
ACT.—Section 7421(a) of the 1986 Code is amended by in-
serting ‘‘6331(i),’’ after ‘‘6246(b),’’.
(g) AMENDMENT RELATED TO SECTION 3708 OF 1998
ACT.—Subparagraph (A) of section 6103(p)(3) of the 1986
Code is amended by inserting ‘‘(f)(5),’’ after ‘‘(c), (e),’’.
(h) AMENDMENT RELATED TO SECTION 5001 OF 1998
ACT.—
(1) Subparagraph (B) of section 1(h)(13) of the
1986 Code is amended by striking ‘‘paragraph
(7)(A)’’ and inserting ‘‘paragraph (7)(A)(i)’’.
(2)(A) Subparagraphs (A)(i)(II), (A)(ii)(II), and
(B)(ii) of section 1(h)(13) of the 1986 Code shall not
apply to any distribution after December 31, 1997, by
a regulated investment company or a real estate in-
vestment trust with respect to—
(i) gains and losses recognized directly by
such company or trust, and
(ii) amounts properly taken into account by
such company or trust by reason of holding (di-
rectly or indirectly) an interest in another such
company or trust to the extent that such sub-
paragraphs did not apply to such other company
or trust with respect to such amounts.
(B) Subparagraph (A) shall not apply to any
distribution which is treated under section 852(b)(7)
or 857(b)(8) of the 1986 Code as received on December
31, 1997.
(C) For purposes of subparagraph (A), any
amount which is includible in gross income of its
shareholders 
under 
section 
852(b)(3)(D) 
or
857(b)(3)(D) of the 1986 Code after December 31,
1997, shall be treated as distributed after such date.
(D)(i) For purposes of subparagraph (A), in the
case of a qualified partnership with respect to which
a regulated investment company meets the holding re-
quirement of clause (iii)—
(I) the subparagraphs referred to in sub-
paragraph (A) shall not apply to gains and
losses recognized directly by such partnership for
purposes of determining such company’s dis-
tributive share of such gains and losses, and
(II) such company’s distributive share of
such gains and losses (as so determined) shall be
treated as recognized directly by such company.
The preceding sentence shall apply only if the quali-
fied partnership provides the company with written
documentation of such distributive share as so deter-
mined.
(ii) For purposes of clause (i), the term ‘‘quali-
fied partnership’’ means, with respect to a regulated
investment company, any partnership if—
(I) the partnership is an investment com-
pany registered under the Investment Company
Act of 1940,
(II) the regulated investment company is
permitted to invest in such partnership by rea-
son of section 12(d)(1)(E) of such Act or an ex-
emptive order of the Securities and Exchange
Commission under such section, and
(III) the regulated investment company and
the partnership have the same taxable year.
(iii) A regulated investment company meets the
holding requirement of this clause with respect to a
qualified partnership if (as of January 1, 1998)—
(I) the value of the interests of the regulated
investment company in such partnership is 35
percent or more of the value of such company’s
total assets, or
(II) the value of the interests of the regu-
lated investment company in such partnership
and all other qualified partnerships is 90 percent
or more of the value of such company’s total as-
sets.
(i) EFFECTIVE DATE.—The amendments made by this
section shall take effect as if included in the provisions of
the 1998 Act to which they relate.
SEC. 503. AMENDMENTS RELATED TO TAXPAYER RELIEF
ACT OF 1997.
(a) AMENDMENT RELATED TO SECTION 202 OF 1997
ACT.—Paragraph (2) of section 163(h) of the 1986 Code
is amended by striking ‘‘and’’ at the end of subparagraph
(D), by striking the period at the end of subparagraph (E)
and inserting ‘‘, and’’, and by adding at the end the follow-
ing new subparagraph:
‘‘(F) any interest allowable as a deduction
under section 221 (relating to interest on edu-
cational loans).’’
(b) PROVISION RELATED TO SECTION 311 OF 1997
ACT.—In the case of any capital gain distribution made
after 1997 by a trust to which section 664 of the 1986 Code
applies with respect to amounts properly taken into account
by such trust during 1997, paragraphs (5)(A)(i)(I),
(5)(A)(ii)(I), and (13)(A) of section 1(h) of the 1986 Code
(as in effect for taxable years ending on December 31, 1997)
shall not apply.
(c) AMENDMENT RELATED TO SECTION 506 OF 1997
ACT.—
(1) Section 2001(f)(2) of the 1986 Code is
amended by adding at the end the following:
‘‘For purposes of subparagraph (A), the value of an
item shall be treated as shown on a return if the item
is disclosed in the return, or in a statement attached
to the return, in a manner adequate to apprise the
Secretary of the nature of such item.’’.
(2) Paragraph (9) of section 6501(c) of the 1986
Code is amended by striking the last sentence.
(d) AMENDMENTS RELATED TO SECTION 904 OF 1997
ACT.—
(1) Paragraph (1) of section 9510(c) of the 1986
Code is amended to read as follows:
‘‘(1) IN GENERAL.—Amounts in the Vaccine In-
jury Compensation Trust Fund shall be available, as
provided in appropriation Acts, only for—