,,ib  ,union ,cal5d> ,no4 #cag  #aac?   
,,congress  #b;d ,session  ,h4 ,r4 #ddec
  ,report ,no4 #aac-dbi  ,,9 ,,! ,,h\se 
,,( ,,repres5tatives  ,april #aj1 #bjad 
,mr4 ,rei*]t 7= himself & ,mr4 ,k9d7    
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,ways & ,means  ,may   
#b1 #bjad ,additional sponsor3 ,mr4 ,re$
  ,may #b1 #bjad ,report$ ) an am5dm5t1 
committ$ to ! ,committee ( ! ,:ole ,h\se
 on ! ,/ate ( ! ,union1 & ord]$ to be   
pr9t$ ,/rike out all aft] ! enact+      
clause & ins]t ! "p pr9t$ 9 italic  ,a  
,,bill  ,to am5d ! ,int]nal ,rev5ue     
,code ( #aihf to make p]man5t ! r$uc$   
recognition p]iod = built-9 ga9s ( ,s   
corporations4  #a4 ,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  #a4 ,%ort title ,?is ,act  
may be cit$ z ! ,p]man5t ,s ,corporation
 ,built-9 ,ga9s ,recognition ,p]iod ,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  ,may #b1 #bjad ,report$ )  
an am5dm5t1 committ$ to ! ,committee ( !
 ,:ole ,h\se on ! ,/ate ( ! ,union1 &   
ord]$ to be pr9t$