,,ii  ,cal5d> ,no4 #dcc #aac? ,,congress
  #b;d ,session  ,h4 ,r4 #ddec  ,,9 ,,! 
,,s5ate ,,( ,,! ,,unit$ ,,/ates  ,june  
#af1 #bjad,receiv$2 read ! fir/ "t      
,june #ag1 #bjad,read ! second "t &     
plac$ on ! cal5d>  ,,an ,,act  ,to am5d 
! ,int]nal ,rev5ue ,code ( #aihf to make
 p]man5t ! r$uc$ recognition p]iod =    
built-9 ga9s ( ,s corporations4  #a4    
,%ort title ,?is ,act may be cit$ z ! ,s
 ,corporation ,p]man5t ,tax ,relief ,act
 ( #bjad4  #b4 ,r$uc$ recognition p]iod 
= built-9 ga9s ( ,s corporations made   
p]man5t  7a7 ,9 g5]al ,p>agraph 7#g7 (  
section #acgd7;d7 ( ! ,int]nal ,rev5ue  
,code ( #aihf is am5d$ to read z foll[s3
  7#g7 ,recognition p]iod  7,a7 ,9 g5]al
 ,! t]m recognition p]iod means ! #e-ye>
 p]iod beg9n+ ) ! #a/ day ( ! #a/       
taxable ye> = :i* ! corporation 0 an ,s 
corporation4 ,= purposes ( apply+ ?is   
section to any am\nt includible 9 income
 by reason ( di/ributions to %>ehold]s  
pursuant to section #eic7;e71 ! prec$+  
s5t5ce %all be appli$ )\t reg>d to !    

phrase #e-ye>4  7,b7 ,in/allm5t sales   
,if an ,s corporation sells an asset &  
reports ! income f ! sale us+ !         
in/allm5t me?od "u section #dec1 !      
treatm5t ( all paym5ts receiv$ %all be  
gov]n$ by ! provisions ( ?is p>agraph   
applicable to ! taxable ye> 9 :i* su*   
sale 0 made4  4  7b7 ,effective date ,! 
am5dm5t made by ?is section %all apply  
to taxable ye>s beg9n+ aft] ,decemb]    
#ca1 #bjac4  #c4 ,p]man5t rule reg>d+   
basis adju/m5t to /ock ( ,s corporations
 mak+ *>itable contributions ( prop]ty  
7a7 ,9 g5]al ,section #acfg7;a77#b7 ( ! 
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by /rik+ ! la/ s5t5ce4  7b7 ,effective  
date ,! am5dm5t made by ?is section %all
 apply to contributions made 9 taxable  
ye>s beg9n+ aft] ,decemb] #ca1 #bjac4   
#d4 ,budget>y effects  7a7 ,/atutory    
,pay-,z-,y-,g ,scorec>ds ,! budget>y    
effects ( ?is ,act %all n be ent]$ on   
ei!r ,,paygo scorec>d ma9ta9$ pursuant  
to section #d7;d7 ( ! ,/atutory         
,pay-,z-,y-,g ,act ( #bjaj4  7b7 ,s5ate 

,,paygo ,scorec>ds ,! budget>y effects (
 ?is ,act %all n be ent]$ on any ,,paygo
 scorec>d ma9ta9$ = purposes ( section  
#bja ( ,s4 ,con4 ,res4 #ba 7#aaj?       
,congress74  ,pass$ ! ,h\se (           
,repres5tatives ,june #ab1 #bjad4,k>5   
,l4 ,haas1,cl]k  ,june #ag1 #bjad,read !
 second "t & plac$ on ! cal5d>