,i  #aac? ,,congress  #b;d ,session  ,h4
 ,r4 #dehi  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,may #g1 #bjad ,mr4   
,rei*]t 7= himself & ,mr4 ,mc,dermott7  
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,ways & ,means  ,a     
,,bill  ,to am5d ! ,int]nal ,rev5ue     
,code ( #aihf to exclude divid5ds f     
controll$ =eign corporations f !        
def9ition ( p]sonal hold+ company income
 = purposes ( ! p]sonal hold+ company   
rules4  #a4 ,%ort title ,?is ,act may be
 cit$ z ! ,p]sonal ,hold+ ,company ,tax 
,p>ity & ,re9ve/m5t ,act4  #b4          
,exclusion ( divid5ds f controll$ =eign 
corporations f ! def9ition ( p]sonal    
hold+ company income = purposes ( !     
p]sonal hold+ company rules  7a7 ,9     
g5]al ,p>agraph 7#a7 ( section #edc7;a7 
( ! ,int]nal ,rev5ue ,code ( #aihf is   
am5d$--  7#a7 by r$esignat+ subp>agraphs
 7,c7 & 7,d7 z subp>agraphs 7,d7 & 7,e71
 respectively1 &  7#b7 by ins]t+ aft]   
subp>agraph 7,b7 ! foll[+3  7,c7        
divid5ds receiv$ by a ,unit$ ,/ates     

%>ehold] 7z def9$ 9 section #iea7;b77 f 
a controll$ =eign corporation 7z def9$ 9
 section #ieg7;a771  4  7b7 ,effective  
date ,! am5dm5ts made by ?is ,act %all  
apply to taxable ye>s end+ on or aft] ! 
date ( ! enactm5t ( ?is ,act4