Pub. L. 108-357, tit. VIII, subtit. D, sec. 897

DENIAL OF INSTALLMENT SALE TREATMENT FOR ALL READILY TRADABLE DEBT.

EnactedYear: 2004Length: 67 wordsOfficial source

SEC. 897. DENIAL OF INSTALLMENT SALE TREATMENT FOR ALL READILY TRADABLE DEBT.(a) In General.—Section 453(f)(4)(B) (relating to purchaser evidences of indebtedness payable on demand or readily tradable) is amended by striking “is issued by a corporation or a government or political subdivision thereof and”.(b) Effective Date.—The amendment made by this section shall apply to sales occurring on or after the date of the enactment of this Act.