TREATMENT OF STRUCTURED SETTLEMENTS.

SEC. 6079. TREATMENT OF STRUCTURED SETTLEMENTS. (a) Treatment Under Minimum Tax.— (1) The last sentence of section 56(g)(4)(B)(iii) of the 1986 Code (as amended by title I) is amended to read as follows; “The preceding sentence shall not apply to any annuity contract which is held under a plan described in section 403(a) or which is described in section 72(u)(3)(C).” (2) Effective date.—The amendment made by paragraph (1) shall take effect as if included in the amendments made by section 701 of the Reform Act. (b) Certain Creditor Rights Permitted.— 102 STAT. 3710 (1) In general.— Subsection (c) of section 130 of the 1986 Code (relating to certain personal injury liability assignments) is amended— (A) by striking out subparagraph (C) of paragraph (2) and redesignating subparagraphs (D) and (E) of paragraph (2) as subparagraphs (C) and (D), respectively, and (B) by adding at the end thereof the following new sentence: “The determination for purposes of this chapter of when the recipient is treated as having received any payment with respect to which there has been a qualified assignment shall be made without regard to any provision of such assignment which grants the recipient rights as a creditor greater than those of a general creditor.” (2) Effective date.—The amendment made by paragraph (1) shall apply to assignments after the date of the enactment of this Act.