GENERAL EFFECTIVE DATE OF TITLE.

SEC. 507. GENERAL EFFECTIVE DATE OF TITLE.Except as provided in section 505 of this title, the amendments made by sections 501 through 504 of this title shall apply with respect to taxable years ending after December 31, 1971, except that a corporation may not be a DISC (as defined in section 992(a) of the Internal Revenue Code of 1954, added by section 501 of this title) for any taxable year beginning before January 1, 1972.