Page 43 - Tax Reform

PUBLIC LAW 115–97—DEC. 22, 2017 131 STAT. 2093

subparagraph (A) shall be applied by substituting 50 per-
cent of the dollar amount otherwise applicable under clause
(i) and clause (ii) thereof. For purposes of the preceding
sentence, marital status shall be determined under section
7703.’’.
(B) Section 55(b)(3) is amended by striking ‘‘paragraph 26 USC 55.
(1)(A)(i)’’ and inserting ‘‘paragraph (1)(A)’’.
(C) Section 59(a) is amended—
(i) by striking ‘‘subparagraph (A)(i) or (B)(i) of section
55(b)(1) (whichever applies) in lieu of the highest rate
of tax specified in section 1 or 11 (whichever applies)’’
in paragraph (1)(C) and inserting ‘‘section 55(b)(1) in lieu
of the highest rate of tax specified in section 1’’, and
(ii) in paragraph (2), by striking ‘‘means’’ and all that
follows and inserting ‘‘means the amount determined under
the first sentence of section 55(b)(1)(A).’’.
(D) Section 897(a)(2)(A) is amended by striking ‘‘section
55(b)(1)(A)’’ and inserting ‘‘section 55(b)(1)’’.
(E) Section 911(f) is amended—
(i) in paragraph (1)(B)—
(I) by striking ‘‘section 55(b)(1)(A)(ii)’’ and inserting
‘‘section 55(b)(1)(B)’’, and
(II) by striking ‘‘section 55(b)(1)(A)(i)’’ and inserting
‘‘section 55(b)(1)(A)’’, and
(ii) in paragraph (2)(B), by striking ‘‘section
55(b)(1)(A)(ii)’’ each place it appears and inserting ‘‘section
55(b)(1)(B)’’.
(4) Section 55(c)(1) is amended by striking ‘‘, the section
936 credit allowable under section 27(b), and the Puerto Rico
economic activity credit under section 30A’’.
(5) Section 55(d), as amended by section 11002, is
amended—
(A) by striking paragraph (2) and redesignating para-
graphs (3) and (4) as paragraphs (2) and (3), respectively,
(B) in paragraph (2) (as so redesignated), by inserting
‘‘and’’ at the end of subparagraph (B), by striking ‘‘, and’’
at the end of subparagraph (C) and inserting a period,
and by striking subparagraph (D), and
(C) in paragraph (3) (as so redesignated)—
(i) by striking ‘‘(b)(1)(A)(i)’’ in subparagraph (B)(i)
and inserting ‘‘(b)(1)(A)’’, and
(ii) by striking ‘‘paragraph (3)’’ in subparagraph
(B)(iii) and inserting ‘‘paragraph (2)’’.
(6) Section 55 is amended by striking subsection (e).
(7) Section 56(b)(2) is amended by striking subparagraph
(C) and by redesignating subparagraph (D) as subparagraph
(C).
(8)(A) Section 56 is amended by striking subsections (c)
and (g).
(B) Section 847 is amended by striking the last sentence
of paragraph (9).
(C) Section 848 is amended by striking subsection (i).
(9) Section 58(a) is amended by striking paragraph (3)
and redesignating paragraph (4) as paragraph (3).
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(10) Section 59 is amended by striking subsections (b)
and (f).