1986—Pub. L. 99–514 substituted “regulated investment companies” for “real estate investment entities” in section catchline.

Subsec. (a). Pub. L. 99–514 amended subsec. (a) generally. Prior to amendment, subsec. (a) read as follows: “In addition to any other penalty provided by law, any qualified investment entity (as defined in section 860 (b)) whose tax liability for any taxable year is deemed to be increased pursuant to section 860 (c)(1)(A) (relating to interest and additions to tax determined with respect to the amount of the deduction for deficiency dividends allowed) shall pay a penalty in an amount equal to the amount of interest (for which such entity is liable) which is attributable solely to such increase.”

1978—Pub. L. 95–600 substituted “qualified investment entities” for “real estate investment trusts” in section catchline.

Subsec. (a). Pub. L. 95–600 substituted “qualified investment entity (as defined in section 860 (b))” for “real estate investment trust”, “section 860 (c)(1)(A)” for “section 859 (b)(2)(A)”, and “(for which such entity is liable) which” for “for which such trust is liable that”.

Subsec. (b). Pub. L. 95–600 substituted “section 860 (a)” for “section 859 (a)”.

Subsec. (c). Pub. L. 95–600 reenacted subsec. (c) without change.

Amendment by Pub. L. 99–514 applicable to taxable years beginning after Dec. 31, 1986, see section 669 of Pub. L. 99–514, set out as a note under section 856 of this title.

Amendment by Pub. L. 95–600 applicable with respect to determinations (as defined in section 860 (e) of this title) after Nov. 6, 1978, see section 362(e) of Pub. L. 95–600, set out as an Effective Date note under section 860 of this title.