,i  #aacth ,,congress  #b;d ,session    
,h4 ,r4 #dehi  ,,in ,,the ,,house ,,of  
,,representatives  ,may #g1 #bjad ,mr4  
,reichert 7for himself and ,mr4         
,mc,dermott7 introduced the following   
bill2 which was referred to the         
,committee on ,ways and ,means  ,a      
,,bill  ,to amend the ,internal ,revenue
 ,code of #aihf to exclude dividends    
from controlled foreign corporations    
from the definition of personal holding 
company income for purposes of the      
personal holding company rules4  #a4    
,short title ,this ,act may be cited as 
the ,personal ,holding ,company ,tax    
,parity and ,reinvestment ,act4  #b4    
,exclusion of dividends from controlled 
foreign corporations from the definition
 of personal holding company income for 
purposes of the personal holding company
 rules  7a7 ,in general ,paragraph 7#a7 
of section #edc7;a7 of the ,internal    
,revenue ,code of #aihf is amended--    
7#a7 by redesignating subparagraphs 7,c7
 and 7,d7 as subparagraphs 7,d7 and     

7,e71 respectively1 and  7#b7 by        
inserting after subparagraph 7,b7 the   
following3  7,c7 dividends received by a
 ,united ,states shareholder 7as defined
 in section #iea7;b77 from a controlled 
foreign corporation 7as defined in      
section #ieg7;a771  4  7b7 ,effective   
date ,the amendments made by this ,act  
shall apply to taxable years ending on  
or after the date of the enactment of   
this ,act4