26 U.S.C. § 4498

Section 4498 · Termination

Amended 1 time on record

(a) General rule

The tax imposed by section 4495 shall not apply to any removal from the deep seabed after the earlier of—

(1) the date on which an international deep seabed treaty takes effect with respect to the United States, or

(2) the date 10 years after the date of the enactment of this subchapter.

(b) International deep seabed treaty

For purposes of subsection (a), the term “international deep seabed treaty” means any treaty which—

(1) is adopted by a United Nations Conference on the Law of the Sea, and

(2) requires contributions to an international fund for the sharing of revenues from deep seabed mining.

Editorial notes U.S. Code · Office of the Law Revision Counsel

References in Text

The date of the enactment of this subchapter, referred to in subsec. (a)(2), probably means the date of enactment of Pub. L. 96–283, which was approved June 28, 1980.