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TITLE 26-INTERNAL REVENUE CODE repealed and the provisions thereof reenacted as sec- tions 5726(b), 5727(b) to (e), and 5913 of Title 5, Gov- ernment Organization and Employees, by Pub, L. 89- 554, Sept. 6, 1966, 80 Stat. 378. The Peace Corps Act, referred to in par. (3), is Pub. L. 87-293, Sept. 22, 1961, 75 Stat. 612, which is classi- fied principally to chapter 34 (§ 2501 et seq.) of Title 22, Foreign Relations and Intercourse. Sections 5 and 6 of that act are classified to sections 2504 and 2505 of Title 22. For complete classification of this act to the Code, see Short Title note set out under section 2501 of Title 22 and Tables volume. AMENDMENTS 1961-Par. (3). Pub. L. 87-293 added par. (3). 1960-Pub. L. 86-707 exempted foreign areas allowances received under section 4 of the Central In- telligence Agency Act of 1949, title II of the Overseas Differentials and Allowances Act, subsection (e) or (f) of the first section of the Administrative Expenses Act of 1946, or section 22 of such Act, provided that amounts received as post differentials shall not be exempt and in the provisions relating to cost-of-living allowances excluded Alaska from the term "continen- tal United States" and amounts received under title II of the Overseas Differentials and Allowances Act. EFFECTIVE DATE OF 1961 AMENDMENTS Section 201(d) of Pub. L. 87-293 provided that: "The amendments made by subsections (a) and (b) of this section (to this section and section 1303 of this title] shall apply with respect to taxable years ending after March 1, 1961. The amendment made by subsection (c) (to section 3401 of this title] .hall apply with respect to remuneration paid after the date of the enactment of this Act [Sept. 22, 1961)." Section 201(d) of Pub. L. 87-293 repealed by Pub. L. 89-572, § 5(a), Sept. 13, 1966, 80 Stat. 765. Such repeal not deemed to affect amendments contained in such provisions, see sections 5(b) of Pub. L. 89-572, set out as a note under former section 2515 of Title 22, For- eign Relations and Intercourse. EFFECTIVE DATE OF 1960 AMENDMENT Section 523(b) of Pub. L. 86-707 provided that: "Paragraphs (1) and (2) of section 912 of the Internal Revenue Code of 1954, as amended by subsection (a) of this section [pars. (1) and (2) of this section], shall apply only with respect to amounts received on or after the date of the enactment of this Act [Sept. 6, 1960] in taxable years ending on or after such date." REPEALS; AMENDMENTS AND APPLICATION OF AMENDMENTS UNAFFECTED Section 201(a) of Pub. L. 87-293 repealed by Pub. L. 89-572, § 5(a), Sept. 13, 1966, 80 Stat. 765. Such repeal not deemed to affect amendments to this section con- tained in such provisions, and continuation in full force and effect until modified by appropriate author- ity of all determinations, authorization, regulations, orders, contracts, agreements, and other actions issued undertaken, or entered into under authority of the re- pealed provisions, see section 5(b) of Pub. L. 89-572, set out as a note under former section 2515 of Title 22, Foreign Relations and Intercourse. DELEGATION OF FUNCTIONS Functions of the President under subsec. (3)(D) of this section, to determine the portion of living allowances constituting basic compensation, delegated to the Director of ACTION to be performed in consul- tation with the Secretary of the Treasury, see section 102(b) of Ex, Ord. No. 11603, June 30, 1971, 36 P.R. 12675, set out as a note under section 2501 of Title 22, Foreign Relations and Intercourse. DELEGATION OF AUTHORITY Authority of the President under par. (2) of this sec- tion delegated to the Secretary of Defense with re- spect to the military departments, and the Secretary of the Treasury with respect to the Coast Guard, con- cerning civilian employees of nonappropriated fund in- strumentalities of the armed forces, see section 201 of Ex. Ord. No. 11137, Jan. 7, 1964, set out as a note under section 5921 of Title 5, Government Organiza. tion and Employees. SUBPART C-WESTERN HEMISPHERE TRADE CORPORATIONS Sec. 921. Definition of Western Hemisphere trade corpora- tions. 922. Special deduction. REPEALS Subpart C and sections 921 and 922 of this title were repealed by Pub. L. 94-455, title X, § 1052(b), Oct. 4, 1976, 90 Stat. 1648, appli- cable with respect to taxable years begin- ning after Dec. 31, 1979. § 921. Definition of Western Hemisphere trade corpo- rations For purposes of this subtitle, the term "West- ern Hemisphere trade corporation" means a do- mestic corporation all of whose business (other than incidental purchases) is done in any coun- try or countries in North, Central, or South America, or in the West Indies, and which satis- fies the following conditions: (1) if 95 percent or more of the gross income of such domestic corporation for the 3-year period immediately preceding the close of the taxable year (or for such part of such period during which the corporation was in existence) was derived from sources without the United States; and (2) if 90 percent or more of its gross income for such period or such part thereof was de- rived from the active conduct of a trade or business. (Aug. 16, 1954, ch. 736, 68A Stat. 290; Oct. 4, 1976, Pub. L. 94-455, title XIX, § 1901(a)(116), 90 Stat. 1784.) REPEAL OF SECTION Section repealed by Pub. L. 94-455, title X, § 1052(b), Oct. 4, 1976, 90 Stat. 1648, appli- cable with respect to taxable years begin- ning after Dec. 31, 1979. AMENDMENTS 1976-Pub. L. 94-455, § 1901(a)(116), struck out pro- vision relating to taxable years prior to Jan. 1, 1954. EFFECTIVE DATE OF 1976 AMENDMENT Amendment by Pub. L. 94-455 applicable with re- spect to taxable years beginning after Dec. 31, 1976, see section 1901(d) of Pub. L. 94-455, set out as an Ef- fective Date of 1976 Amendment note under section 2 of this title. APPLICATION OF WESTERN HEMISPHERE TRADE CORPORA- TION PROVISION UNDER THE VIRGIN ISLANDS TAX LAws Pub. L. 92-178, title III, § 307, Dec. 10, 1971, 85 Stat. 524, provided that for purposes of applying the income tax laws of United States with respect to the Virgin Is- lands under section 1397 of Title 48, Territories and Insular Possessions, this subpart shall be treated as having been repealed effective with respect to taxable years beginning after Dec. 10, 1971. SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in section 1503 of this title. Page 593 § 921