102 STAT. 3700

PUBLIC LAW 100-647—NOV. 10, 1988

26 USC 4978
note.

26 USC 133 note.

26 USC 415 note.

26 USC 415 note.

26 USC 125 note.

Government
organization
and employees.

(b) EFFECTIVE DATE.—The amendment made by subsection (a)
shall take effect as if included in the amendment made by section
10413 of the Revenue Act of 1987.

SEC. 6061. LOANS TO ACQUIRE EMPLOYER SECURITIES.

Notwithstanding the last sentence of section lllB(h)(5)(A) of this
Act, the amendments made by paragraphs (1) and (2) of section
lllB(h) of this Act shall not apply to any loan used to refinance a
loan described in section 133(b)(lXA) of the 1986 Code which is made
before October 22, 1986, if the terms of the refinanced loan do not
extend the total commitment period beyond the later of—

(1) the term of the original securities acquisition loan, or

(2) the amortization period used to determine the regular
payments (prior to any final or balloon payment) applicable to
the original securities acquisition loan.

SEC. 6062. EFFECTIVE BATE OF SECTION 415 LIMITATIONS OF COLLEC-
TIVELY BARGAINED AGREEMENTS.

(a) IN GENERAL.—Paragraph (2) of section 1106(i) of the Reform
Act is amended to read as follows:

"(2) COLLECTIVE BARGAINING AGREEMENTS.—In the case of a
plan in effect before March 1, 1986, pursuant to 1 or more
collective bargaining agreements between employee representa-
tives and 1 or more employers, the amendments made by this
section (other than subsection (d)) shall not apply to contribu-
tions or benefits pursuant to such agreement in years beginning
before October 1,1991."

(b) EFFECTIVE DATE.—The amendment made by this section shall
take effect as if included in the provisions of section 1106 of the
Reform Act.

SEC. 6063. TREATMENT OF PRE-1989 ELECTIONS FOR DEPENDENT CARE
ASSISTANCE UNDER CAFETERIA PLANS.

For purposes of section 125 of the 1986 Code, a plan shall not be
treated as failing to be a cafeteria plan solely because under the
plan a participant elected before January 1, 1989, to receive re-
imbursement under the plan for dependent care assistance for
periods after December 31,1988, and such assistance is includible in
gross income under the provisions of the Family Support Act of
1988.

SEC. 6064. MODIFICATIONS TO SECTION 457.

(a) CODIFICATION OF EXCEPTION FOR CERTAIN PLANS.—

(1) Subsection (e) of section 457 of the 1986 Code (as amended
by section 1107 of the Reform Act) is amended by adding at the
end thereof the following new paragraph:

"(11) CERTAIN PLANS EXCEPTED.—Any bona fide vacation
leave, sick leave, compensatory time, severance pay, disability
pay, or death benefit plan shall be treated as a plan not
providing for the deferral of compensation."

(2) Subsection (d) of section 457 of the 1986 Code (as in effect
on the day before the date of the enactment of the Reform Act)
is amended by adding at the end thereof the following new
paragraph:

"(10) CERTAIN PLANS EXCEPTED.—Any bona fide vacation
leave, sick leave, compensatory time, severance pay, disability