NUCLEAR DECOMMISSIONING FUNDS.

SEC. 1917. NUCLEAR DECOMMISSIONING FUNDS. (a) Repeal of Investment Restrictions— Subparagraph (C) of section 468A(e)(4) (relating to special rules for nuclear decommis-106 STAT. 3025sioning funds) is amended by striking “described in section 501(c)(21)(B)(ii)”. (b) Reduction in Rate of Tax .— Paragraph (2) of section 468A(e) is amended— (1) by striking “at the rate equal to the highest rate of tax specified in section 11(b)” in subparagraph (A) and inserting “at the rate set forth in subparagraph (f)”, and (2) by redesignating subparagraphs (B) and (C) as subparagraphs (C) and (D), respectively, and by inserting after subparagraph (A) the following new subparagraph: “(B) Rate of tax.— For purposes of subparagraph (A), the rate set forth in this subparagraph is— “(i) 22 percent in the case of taxable years beginning in calendar year 1994 or 1995, and “(ii) 20 percent in the case of taxable years beginning after December 31, 1995.” (c) Effective Dates.— (1) Subsection (a).— The amendment made by subsection (a) shall apply to taxable years beginning after December 31, 1992. (2) Subsection (b).— The amendments made by subsection (b) shall apply to taxable years beginning after December 31, 1993. Section 15 of the Internal Revenue Code of 1986 shall not apply to any change in rate resulting from the amendment made by subsection (b).