Source: https://irc.bloombergtax.com/public/uscode/doc/irc/130
Timestamp: 2019-08-22 20:11:15
Document Index: 185367645

Matched Legal Cases: ['§ 130', '§ 130', '§ 130', '§ 130', '§ 130', '§ 130', '§ 130', '§ 130', '§ 130', '§ 130', '§ 130', '§ 130', '§ 130', '§ 130', '§ 130', '§ 130', '§ 130']

Internal Revenue Code, § 130. Certain Personal Injury Liability Assignments
I.R.C. § 130(a) In General —
I.R.C. § 130(b) Treatment Of Qualified Funding Asset —
I.R.C. § 130(b)(1) —
I.R.C. § 130(b)(2) —
I.R.C. § 130(c) Qualified Assignment —
For purposes of this section, the term “qualified assignment" means any assignment of a liability to make periodic payments as damages (whether by suit or agreement), or as compensation under any workmen's compensation act, on account of personal injury or sickness (in a case involving physical injury or physical sickness)—
I.R.C. § 130(c)(1) —
I.R.C. § 130(c)(2) —
I.R.C. § 130(c)(2)(A) —
I.R.C. § 130(c)(2)(B) —
I.R.C. § 130(c)(2)(C) —
the assignee's obligation on account of the personal injuries or sickness is no greater than the obligation of the person who assigned the liability, and
I.R.C. § 130(c)(2)(D) —
I.R.C. § 130(d) Qualified Funding Asset —
I.R.C. § 130(d)(1) —
I.R.C. § 130(d)(2) —
I.R.C. § 130(d)(3) —
I.R.C. § 130(d)(4) —
(Added by Pub. L. 97-473, title I, 101(b)(1), Jan. 14, 1983, 96 Stat. 2605, and amended Pub. L. 99-514, title X, 1002(a), Oct. 22, 1986, 100 Stat. 2388; Pub. L. 100-647, title VI, 6079(b)(1), Nov. 10, 1988, 102 Stat. 3709; Pub. L. 105-34, title IX, Sec. 962(a), Aug. 5, 1997, 111 Stat 788.)
1997—Subsec. (c). Pub. L. 105-34, Sec. 962(a), amended the material preceding par. (1) by inserting “, or compensation under any workmen's compensation act” after “(whether by suit or agreement)”; amended par. (1) by inserting “or the workmen's compensation claim" after “agreement”; and amended par. (2)(D) by substituting “paragraph (1) or (2) of section 104(a)” for “section 104(a)(2)”.
1988—Subsec. (c). Pub. L. 100-647, in par. (2), redesignated subpars. (D) and (E) as (C) and (D), respectively, struck out former subpar. (C) which provided that the assignee does not provide to the recipient of such payments rights against the assignee which are greater than those of a general creditor, and as concluding provisions, inserted at end “The determination for purposes of this chapter of when the recipient is treated as having received any payment with respect to which there has been a qualified assignment shall be made without regard to any provision of such assignment which grants the recipient rights as a creditor greater than those of a general creditor.”
1986—Subsec. (c). Pub. L. 99-514 inserted “(in a case involving physical injury or physical sickness)”.
Section 962(b) of Pub. L. 105-34 provided that: “The amendments made by subsection (a) shall apply to claims under workmen's compensation acts filed after the date of the enactment of this Act” [Aug. 5, 1997].
Section 6079(b)(2) of Pub. L. 100-647 provided that: “The amendment made by paragraph (1) [amending this section] shall apply to assignments after the date of the enactment of this Act [Nov. 10, 1988].”
Section 1002(b) of Pub. L. 99-514 provided that: “The amendment made by this section [amending this section] shall apply to assignments entered into after December 31, 1986, in taxable years ending after such date.”
Section 101(c) of Pub. L. 97-473 provided that: “The amendments made by this section [enacting this section and amending section 104 of this title] shall apply to taxable years ending after December 31, 1982.”
A prior section 130 was renumbered section 136 of this title.