RAPID AMORTIZATION OF CHILD CARE FACILITIES.

SEC. 402. RAPID AMORTIZATION OF CHILD CARE FACILITIES. (a) Rapid Amortization of Child Care Facilities.— (1) Subsection (c) of section 188 (relating to application of section 188) is amended by striking out “January 1, 1977” and inserting in lieu thereof “January 1, 1982”. (2) Subsection (b) of section 188 (relating to definition of section 188 property) is amended by striking out “as a facility for on-the-job training of employees (or prospective employees) of the taxpayer, or”. (3) The caption of section 188 is amended by striking out “on-the-job training and”. (4) The table of sections for part VI of subchapter B of chapter 1 is amended by striking out the item relating to section 188 and inserting in lieu thereof the following new item: “Sec. 188. Amortization of certain expenditures for child care facilities.” (5) The caption of paragraph (10) of section 57(a) (relating to items of tax preference) is amended by striking out “on-the-job training and”. (b) Effective Date.—The amendments made by subsection (a) shall apply with respect to expenditures made after December 31, 1976.