2016 US Code
Title 26 - Internal Revenue Code
Subtitle F - Procedure and Administration
Chapter 76 - Judicial Proceedings
Subchapter C - The Tax Court
Part IV - Declaratory Judgments
Sec. 7478 - Declaratory judgments relating to status of certain governmental obligations
| 26 U.S.C. § 7478 (2016) |
| §7478. Declaratory judgments relating to status of certain governmental obligations |
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(a) Creation of remedy
In a case of actual controversy involving— (1) a determination by the Secretary whether interest on prospective obligations will be excludable from gross income under section 103(a), or (2) a failure by the Secretary to make a determination with respect to any matter referred to in paragraph (1), upon the filing of an appropriate pleading, the Tax Court may make a declaration whether interest on such prospective obligations will be excludable from gross income under section 103(a). Any such declaration shall have the force and effect of a decision of the Tax Court and shall be reviewable as such. (b) Limitations (1) PetitionerA pleading may be filed under this section only by the prospective issuer. The court shall not issue a declaratory judgment or decree under this section in any proceeding unless it determines that the petitioner has exhausted all available administrative remedies within the Internal Revenue Service. A petitioner shall be deemed to have exhausted its administrative remedies with respect to a failure of the Secretary to make a determination with respect to an issue of obligations at the expiration of 180 days after the date on which the request for such determination was made if the petitioner has taken, in a timely manner, all reasonable steps to secure such determination. If the Secretary sends by certified or registered mail notice of his determination as described in subsection (a)(1) to the petitioner, no proceeding may be initiated under this section unless the pleading is filed before the 91st day after the date of such mailing. |
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(Added Pub. L. 95–600, title III, §336(a), Nov. 6, 1978, 92 Stat. 2841; amended Pub. L. 100–647, title I, §1013(a)(42), Nov. 10, 1988, 102 Stat. 3544.) |
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AMENDMENTS
1988—Subsec. (a). Pub. L. 100–647 substituted "whether interest on prospective obligations will be excludable from gross income under section 103(a)" for "whether prospective obligations are described in section 103(a)" in par. (1) and "whether interest on such prospective obligations will be excludable from gross income under section 103(a)" for "whether such prospective obligations are described in section 103(a)" in concluding provisions. EFFECTIVE DATE OF 1988 AMENDMENTAmendment by Pub. L. 100–647 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99–514, to which such amendment relates, see section 1019(a) of Pub. L. 100–647, set out as a note under section 1 of this title. EFFECTIVE DATEPub. L. 95–600, title III, §336(d), Nov. 6, 1978, 92 Stat. 2842, provided that: "The amendments made by this section [enacting this section and amending sections 7456, 7476, 7477, and 7482 of this title] shall apply to requests for determinations made after December 31, 1978." |
| United States Code, 2012 Edition, Supplement 4, Title 26 - INTERNAL REVENUE CODE |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 26 - INTERNAL REVENUE CODE Subtitle F - Procedure and Administration CHAPTER 76 - JUDICIAL PROCEEDINGS Subchapter C - The Tax Court PART IV - DECLARATORY JUDGMENTS Sec. 7478 - Declaratory judgments relating to status of certain governmental obligations |
| section 7478 |
| 2016 |
| January 6, 2017 |
| No |
| standard |
| 92 Stat. 2841, 2842 102 Stat. 3544 |
| Public Law 95-600, Public Law 99-514, Public Law 100-647 |
