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131 STAT. 2138 PUBLIC LAW 115–97—DEC. 22, 2017 (3) CLERICAL AMENDMENT.—The table of sections for sub- part D of part IV of subchapter A of chapter 1 is amended by adding at the end the following new item: ‘‘Sec. 45S. Employer credit for paid family and medical leave.’’. (e) EFFECTIVE DATE.—The amendments made by this section shall apply to wages paid in taxable years beginning after December 31, 2017. SEC. 13404. REPEAL OF TAX CREDIT BONDS. (a) IN GENERAL.—Part IV of subchapter A of chapter 1 is amended by striking subparts H, I, and J (and by striking the items relating to such subparts in the table of subparts for such part). (b) PAYMENTS TO ISSUERS.—Subchapter B of chapter 65 is amended by striking section 6431 (and by striking the item relating to such section in the table of sections for such subchapter). (c) CONFORMING AMENDMENTS.— (1) Part IV of subchapter U of chapter 1 is amended by striking section 1397E (and by striking the item relating to such section in the table of sections for such part). (2) Section 54(l)(3)(B) is amended by inserting ‘‘(as in effect before its repeal by the Tax Cuts and Jobs Act)’’ after ‘‘section 1397E(I)’’. (3) Section 6211(b)(4)(A) is amended by striking ‘‘, and 6431’’ and inserting ‘‘and’’ before ‘‘36B’’. (4) Section 6401(b)(1) is amended by striking ‘‘G, H, I, and J’’ and inserting ‘‘and G’’. (d) EFFECTIVE DATE.—The amendments made by this section shall apply to bonds issued after December 31, 2017. PART VI—PROVISIONS RELATED TO SPECIFIC ENTITIES AND INDUSTRIES Subpart A—Partnership Provisions SEC. 13501. TREATMENT OF GAIN OR LOSS OF FOREIGN PERSONS FROM SALE OR EXCHANGE OF INTERESTS IN PARTNER- SHIPS ENGAGED IN TRADE OR BUSINESS WITHIN THE UNITED STATES. (a) AMOUNT TREATED AS EFFECTIVELY CONNECTED.— (1) IN GENERAL.—Section 864(c) is amended by adding at the end the following: ‘‘(8) GAIN OR LOSS OF FOREIGN PERSONS FROM SALE OR EXCHANGE OF CERTAIN PARTNERSHIP INTERESTS.— ‘‘(A) IN GENERAL.—Notwithstanding any other provi- sion of this subtitle, if a nonresident alien individual or foreign corporation owns, directly or indirectly, an interest in a partnership which is engaged in any trade or business within the United States, gain or loss on the sale or exchange of all (or any portion of) such interest shall be treated as effectively connected with the conduct of such trade or business to the extent such gain or loss does not exceed the amount determined under subparagraph (B). 26 USC 54 note. 26 USC prec. 1397E. 26 USC prec. 6411. 26 USC prec. 21, prec. 54, 54, prec. 54A, 54A–54F, prec. 54AA, 54AA. 26 USC 38 note. 26 USC prec. 38. VerDate Sep 11 2014 10:09 Oct 18, 2018 Jkt 079139 PO 00097 Frm 00086 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL097.115 PUBL097 dkrause on DSKBC28HB2PROD with PUBLAWS