
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC194A]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                        Subtitle A--Income Taxes
 
                  CHAPTER 1--NORMAL TAXES AND SURTAXES
 
               Subchapter B--Computation of Taxable Income
 
      PART VI--ITEMIZED DEDUCTIONS FOR INDIVIDUALS AND CORPORATIONS
 
Sec. 194A. Contributions to employer liability trusts


(a) Allowance of deduction

    There shall be allowed as a deduction for the taxable year an amount 
equal to the amount--
        (1) which is contributed by an employer to a trust described in 
    section 501(c)(22) (relating to withdrawal liability payment fund) 
    which meets the requirements of section 4223(h) of the Employee 
    Retirement Income Security Act of 1974, and
        (2) which is properly allocable to such taxable year.

(b) Allocation to taxable year

    In the case of a contribution described in subsection (a) which 
relates to any specified period of time which includes more than one 
taxable year, the amount properly allocable to any taxable year in such 
period shall be determined by prorating such amounts to such taxable 
years under regulations prescribed by the Secretary.

(c) Disallowance of deduction

    No deduction shall be allowed under subsection (a) with respect to 
any contribution described in subsection (a) which does not relate to 
any specified period of time.

(Added Pub. L. 96-364, title II, Sec. 209(c)(1), Sept. 26, 1980, 94 
Stat. 1290, Sec. 194; renumbered Sec. 194A, Pub. L. 97-448, title III, 
Sec. 305(b)(1), Jan. 12, 1983, 96 Stat. 2399.)

                       References in Text

    Section 4223(h) of the Employee Retirement Income Security Act of 
1974, referred to in subsec. (a), is classified to section 1403(h) of 
Title 29, Labor.


                    Effective Date of 1983 Amendment

    Section 311(c)(2) of Pub. L. 97-448 provided that: ``The amendments 
made by subsection (b) of section 305 [redesignating section 194 of this 
title, relating to contributions to employer liability trusts, as this 
section] shall take effect on October 14, 1980.''


                             Effective Date

    Section applicable to taxable years ending after Sept. 26, 1980, see 
section 210(c) of Pub. L. 96-364, set out as a note under section 418 of 
this title.
