FRANCHISE TRANSFERS.

SEC. 2110. FRANCHISE TRANSFERS. (a) Application of Franchise Rules to Partners hits.— Section 751(c) (relating to unrealized receivables of a partnership), as amended by this Act, is amended— (1) by striking out “farm land (as defined in section 1252 (a)),” and inserting in lieu thereof “farm land (as defined in section 1252(a)), franchises, trademarks, or trade names (referred to in section 1253(a)),” and (2) by striking out “1252(a)” and inserting in lieu thereof “1252(a), 1253(a)”. (b) Effective Date.— Subsection (a) shall apply to transactions described in sections 731, 736, 741, or 751 of the Internal Revenue Code of 1954 which occur after December 31, 1976, in taxable years ending after that date.