99-514, § 1803(a)(11)(A), amended par. (3) generally. Prior to amendment, par. (3) read as follows: "The determinations required under paragraphs (1) and (2) shall be made -
"(A) in accordance with the method of amortizing bond premium regularly employed by the holder of the bond, if such method is reasonable;
"(B) in all other cases, in accordance with regulations prescribing reasonable methods of amortizing bond premium prescribed by the Secretary."
Subsec. (b)(4). Pub. L. 99-514, § 1803(a)(12)(A), added par. (4).
Subsec. (d). Pub. L. 99-514, § 1803(a)(11)(B), struck out "issued by any corporation and bearing interest (including any like obligation issued by a government or political subdivision thereof)," after "evidence of indebtedness,".
Subsecs. (e), (f). Pub. L. 99-514, § 643(a), added subsec. (e) and redesignated former subsec. (e) as (f).
1976 - Subsec. (a)(1). Pub. L. 94-455, § 1901(b)(1)(E)(i), substituted "Taxable bonds" for "Interest wholly or partially taxable" after "(1)".
Subsec. (a)(2). Pub. L. 94-455, § 1901(b)(1)(E)(ii), substituted "Tax-exempt bonds" for "Interest wholly tax-exempt" after "(2)".
Subsec. (a)(3). Pub. L. 94-455, § 1901(b)(1)(E)(iii), redesignated par. (4) as (3). Former par. (3), relating to adjustment of credit or deduction for interest partially tax-exempt, was struck out.
Subsec. (a)(4). Pub. L. 94-455, § 1901(b)(1)(E)(iii), redesignated par. (4) as par. (3).
Subsec. (b)(1)(B)(i). Pub. L. 94-455, § 1951(b)(5)(A)(ii), substituted "clause (ii) applies, or" for "clause (ii) or (iii) applies" after "bond to which" and inserted "and" at the end.
Subsec. (b)(1)(B)(ii). Pub. L. 94-455, §§ 1901(b)(1)(E)(iv), 1951(b)(5)(A)(iii), substituted "subsection (a)(1)" for "subsection (c)(1)(B)" after "bond described in" and "and" for "or" after "1957".
Subsec. (b)(1)(B)(iii). Pub. L. 94-455, § 1951(b)(5)(A)(i), struck out cl. (iii) relating to certain bonds acquired before 1958.
Subsec. (b)(2). Pub. L. 94-455, § 1951(b)(5)(A)(iv), struck out "or (iii)" after "paragraph (1)(B)(ii)".
Subsec. (b)(3)(B). Pub. L. 94-455, § 1906(b)(13)(A), struck out "or his delegate" after "Secretary".
Subsec. (c)(1). Pub. L. 94-455, § 1901(b)(1)(E)(v), substituted "In the case of bonds the interest on which is not excludible from gross income, this section shall apply only if the taxpayer has so elected" for "This section shall apply with respect to the following classes of taxpayers with respect to the following classes of bonds only if the taxpayer has elected to have this section apply" after "election permitted", and struck out subpars. (A) and (B) relating to partially tax-exempt, and wholly taxable, bonds.
Subsec. (c)(2). Pub. L. 94-455, § 1906(b)(13)(A), struck out "or his delegate" in three places after "Secretary".
1958 - Subsec. (b)(1)(B). Pub. L. 85-866, § 13(a)(1), substituted ", in the case of any bond other than a bond to which clause (ii) or (iii) applies" for "(but in the case of bonds described in subsection (c)(1)(B) issued after January 22, 1951, and acquired after January 22, 1954, only if such earlier call date is a date more than 3 years after the date of such issue), and", designated such provision as cl. (i), and added cl. (ii) and (iii).
Subsec. (b)(2). Pub. L. 85-866, § 13(a)(2), substituted "In the case of a bond to which