
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC242]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                        Subtitle A--Income Taxes
 
                  CHAPTER 1--NORMAL TAXES AND SURTAXES
 
               Subchapter B--Computation of Taxable Income
 
             PART VIII--SPECIAL DEDUCTIONS FOR CORPORATIONS
 
[Sec. 242. Repealed. Pub. L. 94-455, title XIX, 
        Sec. 1901(a)(33), Oct. 4, 1976, 90 Stat. 1769]
        
    Section, acts Aug. 16, 1954, ch. 736, 68A Stat. 72; Feb. 26, 1964, 
Pub. L. 88-272, title I, Sec. 123(c), 78 Stat. 30, allowed to 
corporations as a deduction the amount received as interest on 
obligations of the United States or on obligations of corporations 
organized under Acts of Congress which are instrumentalities of the 
United States under certain conditions.


                        Effective Date of Repeal

    Repeal effective for taxable years beginning after Dec. 31, 1976, 
see section 1901(d) of Pub. L. 94-455, set out as an Effective Date of 
1976 Amendment note under section 2 of this title.
