DETERMINATION OF FOREIGN OR DOMESTIC STATUS OF PARTNERSHIPS.

SEC. 1151. DETERMINATION OF FOREIGN OR DOMESTIC STATUS OF PARTNERSHIPS. (a) In General.—Paragraph (4) of section 7701(a) is amended by inserting before the period “unless, in the case of a partnership, the Secretary provides otherwise by regulations”. (b) Effective Date.—Any regulations issued with respect to the amendment made by subsection (a) shall apply to partnerships created or organized after the date determined under section 7805(b) 111 STAT. 987of the Internal Revenue Code of 1986 (without regard to paragraph (2) thereof) with respect to such regulations.