,,ii  #aac? ,,congress  #a/ ,session    
,s4 #agc  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,janu>y #bi1 #bjac ,mr4
 ,%elby introduc$ ! foll[+ bill2 :i* 0  
read twice & ref]r$ to ! ,committee on  
,f9ance  ,a ,,bill  ,to repeal ! curr5t 
,int]nal ,rev5ue ,code & replace x ) a  
flat tax1 !reby gu>antee+ economic gr[? 
& fairness = all ,am]icans4  #a4 ,%ort  
title2 table ( cont5ts  7a7 ,%ort title 
,?is ,act may be cit$ z ! ,simplifi$1   
,manageable1 ,& ,responsible ,tax ,act  
or ! ,,sm>t ,act4  7b7 ,table ( cont5ts 
,sec4 #a4 ,%ort title2 table ( cont5ts4 
,title ,i--,tax r$uction &              
simplification ,sec4 #aja4 ,individual  
income tax4 ,sec4 #ajb4 ,tax on bus9ess 
activities4 ,sec4 #ajc4 ,simplification 
( rules relat+ to qualifi$ retirem5t    
plans4 ,sec4 #ajd4 ,repeal ( alt]native 
m9imum tax4 ,sec4 #aje4 ,repeal (       
cr$its4 ,sec4 #ajf4 ,repeal ( e/ate &   
gift taxes & obsolete income tax        
provisions4 ,sec4 #ajg4 ,effective date4
 ,title ,,ii--,sup]majority requir$ =   

tax *anges ,sec4 #bja4 ,sup]majority    
requir$4  ,i ,tax r$uction &            
simplification  #aja4 ,individual income
 tax  7a7 ,9 g5]al ,section #a ( !      
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
to read z foll[s3  #a4 ,tax impos$ ,!re 
is h]eby impos$ on ! taxable income ( e 
individual a tax equal to #ag p]c5t ( ! 
taxable income ( su* individual = su*   
taxable ye>4  4  7b7 ,taxable income    
,section #fc ( su* ,code is am5d$ to    
read z foll[s3  #fc4 ,taxable income    
7a7 ,9 g5]al ,= purposes ( ?is subtitle1
 ! t]m taxable income means ! excess (--
  7#a7 ! sum (--  7,a7 wages 7z def9$ 9 
section #caba7;a7 )\t reg>d to p>agraph 
7#a7 !re(7 :i* are paid 9 ca% & :i* are 
receiv$ dur+ ! taxable ye> = s]vices    
p]=m$ 9 ! ,unit$ ,/ates1  7,b7 retirem5t
 di/ributions :i* are includible 9 gross
 income = su* taxable ye>1 plus  7,c7   
am\nts receiv$ "u any law ( ! ,unit$    
,/ates or ( any ,/ate :i* is 9 ! nature 
( unemploym5t comp5sation1 ov]  7#b7 !  
/&>d d$uction4  7b7 ,/&>d d$uction  7#a7

 ,9 g5]al ,= purposes ( ?is subtitle1 ! 
t]m /&>d d$uction means ! sum (--  7,a7 
! basic /&>d d$uction1 plus  7,b7 !     
additional /&>d d$uction4  7#b7 ,basic  
/&>d d$uction ,= purposes ( p>agraph    
7#a71 ! basic /&>d d$uction is--  7,a7  
#bh1adj 9 ! case (--  7i7 a jo9t return1
 or  7ii7 a surviv+ sp\se 7z def9$ 9    
section #b7;a771  7,b7 #ag1igj 9 ! case 
( a head ( h\sehold 7z def9$ 9 section  
#b7;b771 &  7,c7 #ad1jgj 9 ! case ( an  
individual--  7i7 :o is n m>ri$ & :o is 
n a surviv+ sp\se or head ( h\sehold1 or
  7ii7 :o is a m>ri$ individual fil+ a  
sep>ate return4  7#c7 ,additional /&>d  
d$uction ,= purposes ( p>agraph 7#a71 ! 
additional /&>d d$uction is #f1jgj = ea*
 dep5d5t 7z def9$ 9 section #aeb7 :o is 
describ$ 9 section #aea7;c7 = ! taxable 
ye> & :o is n requir$ to file a return =
 su* taxable ye>4  7c7 ,retirem5t       
di/ributions ,= purposes ( subsection   
7a71 ! t]m retirem5t di/ribution means  
any di/ribution f--  7#a7 a plan        
describ$ 9 section #dja7;a7 :i* includes

 a tru/ exempt f tax "u section         
#eja7;a71  7#b7 an annuity plan describ$
 9 section #djc7;a71  7#c7 an annuity   
contract describ$ 9 section #djc7;b71   
7#d7 an individual retirem5t acc\nt     
describ$ 9 section #djh7;a71  7#e7 an   
individual retirem5t annuity describ$ 9 
section #djh7;b71  7#f7 an eligible     
def]r$ comp5sation plan 7z def9$ 9      
section #deg71  7#g7 a gov]nm5tal plan  
7z def9$ 9 section #dad7;d771 or  7#h7 a
 tru/ describ$ 9 section #eja7;c77#ah74 
,su* t]m includes any plan1 contract1   
acc\nt1 annuity1 or tru/ :i*1 at any "t1
 has be5 det]m9$ by ! ,secret>y to be   
su* a plan1 contract1 acc\nt1 annuity1  
or tru/4  7d7 ,income ( c]ta9 *ildr5 ,= 
purposes ( ?is subtitle--  7#a7 an      
individual's taxable income %all include
 ! taxable income ( ea* dep5d5t *ild (  
su* individual :o has n atta9$ age #ad z
 ( ! close ( su* taxable ye>1 &  7#b7   
su* dep5d5t *ild %all h no liability =  
tax impos$ by section #a ) respect to   
su* income & %all n be requir$ to file a

 return = su* taxable ye>4  7e7         
,inflation adju/m5t  7#a7 ,9 g5]al ,9 ! 
case ( any taxable ye> beg9n+ 9 a cal5d>
 ye> aft] #bjad1 ea* doll> am\nt conta9$
 9 subsection 7b7 %all be increas$ by an
 am\nt det]m9$ by ! ,secret>y to be     
equal to--  7,a7 su* doll> am\nt1       
multipli$ by  7,b7 ! co/-(-liv+ adju/m5t
 = su* cal5d> ye>4  7#b7 ,co/-(-liv+    
adju/m5t ,= purposes ( p>agraph 7#a71 ! 
co/-(-liv+ adju/m5t = any cal5d> ye> is 
! p]c5tage 7if any7 by :i*--  7,a7 !    
,,cpi = ! prec$+ cal5d> ye>1 exce$s     
7,b7 ! ,,cpi = ! cal5d> ye> #bjac4  7#c7
 ,,cpi = any cal5d> ye> ,= purposes (   
p>agraph 7#b71 ! ,,cpi = any cal5d> ye> 
is ! av]age ( ! ,consum] ,price ,index z
 ( ! close ( ! #ab-mon? p]iod end+ on   
,augu/ #ca ( su* cal5d> ye>4  7#d7      
,consum] ,price ,index ,= purposes (    
p>agraph 7#c71 ! t]m ,consum] ,price    
,index means ! la/ ,consum] ,price      
,index = all-urban consum]s publi%$ by !
 ,dep>tm5t ( ,labor4 ,= purposes ( !    
prec$+ s5t5ce1 ! revision ( ! ,consum]  

,price ,index :i* is mo/ consi/5t ) !   
,consum] ,price ,index = cal5d> ye>     
#aihf %all be us$4  7#e7 ,r\nd+ ,if any 
increase det]m9$ "u p>agraph 7#a7 is n a
 multiple ( #aj1 su* increase %all be   
r\nd$ to ! next highe/ multiple ( #aj4  
7f7 ,m>ital /atus ,= purposes ( ?is     
section1 m>ital /atus %all be det]m9$ "u
 section #ggjc4  4  #ajb4 ,tax on       
bus9ess activities  7a7 ,9 g5]al        
,section #aa ( ! ,int]nal ,rev5ue ,code 
( #aihf 7relat+ to tax impos$ on        
corporations7 is am5d$ to read z foll[s3
  #aa4 ,tax impos$ on bus9ess activities
  7a7 ,tax impos$ ,!re is h]eby impos$  
on e p]son engag$ 9 a bus9ess activity a
 tax equal to #ag p]c5t ( ! bus9ess     
taxable income ( su* p]son4  7b7        
,liability = tax ,! tax impos$ by ?is   
section %all be paid by ! p]son engag$ 9
 ! bus9ess activity1 :e!r su* p]son is  
an individual1 p>tn]%ip1 corporation1 or
 o!rwise4  7c7 ,bus9ess taxable income  
,= purposes ( ?is section--  7#a7 ,9    
g5]al ,! t]m bus9ess taxable income     

means gross active income r$uc$ by !    
d$uctions specifi$ 9 subsection 7d74    
7#b7 ,gross active income  7,a7 ,9 g5]al
 ,= purposes ( p>agraph 7#a71 ! t]m     
gross active income means gross receipts
 f--  7i7 ! sale or ex*ange ( prop]ty or
 s]vices 9 ! ,unit$ ,/ates by any p]son 
9 connection ) a bus9ess activity1 &    
7ii7 ! export ( prop]ty or s]vices f !  
,unit$ ,/ates 9 connection ) a bus9ess  
activity4  7,b7 ,ex*anges ,= purposes ( 
?is section1 ! am\nt treat$ z gross     
receipts f ! ex*ange ( prop]ty or       
s]vices is ! fair m>ket value ( !       
prop]ty or s]vices receiv$1 plus any    
money receiv$4  7,c7 ,coord9ation )     
special rules = f9ancial s]vices1 etc   
,except z provid$ 9 subsection 7e7--    
7i7 ! t]m prop]ty does n include money  
or any f9ancial in/rum5t1 &  7ii7 ! t]m 
s]vices does n include f9ancial s]vices4
  7#c7 ,exemption f tax = activities (  
gov]nm5tal entities & tax-exempt        
organizations ,= purposes ( ?is section1
 ! t]m bus9ess activity does n include  

any activity ( a gov]nm5tal entity or ( 
any o!r organization :i* is exempt f tax
 "u ?is *apt]4  7d7 ,d$uctions  7#a7 ,9 
g5]al ,! d$uctions specifi$ 9 ?is       
subsection are--  7,a7 ! co/ ( bus9ess  
inputs = ! bus9ess activity1  7,b7 wages
 7z def9$ 9 section #caba7;a7 )\t reg>d 
to p>agraph 7#a7 !re(7 :i* are paid 9   
ca% = s]vices p]=m$ 9 ! ,unit$ ,/ates z 
an employee1 &  7,c7 retirem5t          
contributions to or "u any plan or      
arrangem5t :i* makes retirem5t          
di/ributions 7z def9$ 9 section #fc7;c77
 = ! b5efit ( su* employees to ! ext5t  
su* contributions are all[$ z a d$uction
 "u section #djd4  7#b7 ,bus9ess inputs 
7,a7 ,9 g5]al ,= purposes ( p>agraph    
7#a71 ! t]m co/ ( bus9ess inputs means--
  7i7 ! am\nt paid = prop]ty sold or us$
 9 connection ) a bus9ess activity1     
7ii7 ! am\nt paid = s]vices 7o!r ?an = !
 s]vices ( employees1 includ+ fr+e      
b5efits paid by reason ( su* s]vices7 9 
connection ) a bus9ess activity1 &      
7iii7 any excise tax1 sales tax1 cu/oms 

duty1 or o!r sep>ately /at$ levy impos$ 
by a ,f$]al1 ,/ate1 or local gov]nm5t on
 ! pur*ase ( prop]ty or s]vices :i* are 
= use 9 connection ) a bus9ess activity4
  ,su* t]m %all n include any tax impos$
 by *apt] #b or #ba4  7,b7 ,exceptions  
,su* t]m %all n include--  7i7 items    
describ$ 9 subp>agraphs 7,b7 & 7,c7 (   
p>agraph 7#a71 &  7ii7 items = p]sonal  
use n 9 connection ) any bus9ess        
activity4  7,c7 ,ex*anges ,= purposes ( 
?is section1 ! am\nt treat$ z paid 9    
connection ) ! ex*ange ( prop]ty or     
s]vices is ! fair m>ket value ( !       
prop]ty or s]vices ex*ang$1 plus any    
money paid4  7e7 ,special rules =       
f9ancial int]m$iation s]vice activities 
,9 ! case ( ! bus9ess activity ( provid+
 f9ancial int]m$iation s]vices1 !       
taxable income f su* activity %all be   
equal to ! value ( ! int]m$iation       
s]vices provid$ 9 su* activity4  7f7    
,exception = s]vices p]=m$ z employee ,=
 purposes ( ?is section1 ! t]m bus9ess  
activity does n include ! p]=mance (    

s]vices by an employee = ! employee's   
employ]4  7g7 ,c>ryov] (                
cr$it-,equival5t ( excess d$uctions     
7#a7 ,9 g5]al ,if ! aggregate d$uctions 
= any taxable ye> exce$ ! gross active  
income = su* taxable ye>1 !             
cr$it-equival5t ( su* excess %all be    
all[$ z a cr$it aga9/ ! tax impos$ by   
?is section = ! foll[+ taxable ye>4     
7#b7 ,cr$it-equival5t ( excess d$uctions
 ,= purposes ( p>agraph 7#a71 !         
cr$it-equival5t ( ! excess describ$ 9   
p>agraph 7#a7 = any taxable ye> is an   
am\nt equal to--  7,a7 ! sum (--  7i7   
su* excess1 plus  7ii7 ! product ( su*  
excess & ! #c-mon? ,treasury rate = !   
la/ mon? ( su* taxable ye>1 multipli$ by
  7,b7 ! rate ( ! tax impos$ by         
subsection 7a7 = su* taxable ye>4  7#c7 
,c>ryov] ( unus$ cr$it ,if ! cr$it      
all[able = any taxable ye> by reason (  
?is subsection exce$s ! tax impos$ by   
?is section = su* ye>1 !n 79 lieu (     
treat+ su* excess z an ov]paym5t7 ! sum 
(--  7,a7 su* excess1 plus  7,b7 !      

product ( su* excess & ! #c-mon?        
,treasury rate = ! la/ mon? ( su*       
taxable ye>1 %all be all[$ z a cr$it    
aga9/ ! tax impos$ by ?is section = !   
foll[+ taxable ye>4  7#d7 #c-mon?       
,treasury rate ,= purposes ( ?is        
subsection1 ! #c-mon? ,treasury rate is 
! rate det]m9$ by ! ,secret>y bas$ on ! 
av]age m>ket yield 7dur+ any #a-mon?    
p]iod select$ by ! ,secret>y & end+ 9 ! 
cal5d> mon? 9 :i* ! det]m9ation is made7
 on out/&+ m>ketable obligations ( !    
,unit$ ,/ates ) rema9+ p]iods to        
maturity ( #c mon?s or less4  4  7b7    
,tax on tax-,exempt entities provid+    
nonca% comp5sation to employees ,section
 #digg ( su* ,code is am5d$ to read z   
foll[s3  #digg4 ,tax on nonca%          
comp5sation provid$ to employees n      
engag$ 9 bus9ess activity  7a7          
,imposition ( tax ,!re is h]eby impos$ a
 tax equal to #ag p]c5t ( ! value (     
excludable comp5sation provid$ dur+ !   
cal5d> ye> by an employ] = ! b5efit (   
employees to :om ?is section applies4   

7b7 ,liability = tax ,! tax impos$ by   
?is section %all be paid by ! employ]4  
7c7 ,excludable comp5sation ,= purposes 
( subsection 7a71 ! t]m excludable      
comp5sation means any remun]ation =     
s]vices p]=m$ z an employee o!r ?an--   
7#a7 wages 7z def9$ 9 section #caba7;a7 
)\t reg>d to p>agraph 7#a7 !re(7 :i* are
 paid 9 ca%1  7#b7 remun]ation = s]vices
 p]=m$ outside ! ,unit$ ,/ates1 &  7#c7 
retirem5t contributions to or "u any    
plan or arrangem5t :i* makes retirem5t  
di/ributions 7z def9$ 9 section         
#fc7;c774  7d7 ,employees to :om section
 applies ,?is section %all apply to an  
employee :o is employ$ 9 any activity   
by--  7#a7 any organization :i* is      
exempt f taxation "u ?is *apt]1 or  7#b7
 any ag5cy or in/rum5tality ( ! ,unit$  
,/ates1 any ,/ate or political          
subdivision ( a ,/ate1 or ! ,di/rict (  
,columbia4  4  #ajc4 ,simplification (  
rules relat+ to qualifi$ retirem5t plans
  7a7 ,9 g5]al ,! foll[+ provisions ( ! 
,int]nal ,rev5ue ,code ( #aihf are h]eby

 repeal$3  7#a7 ,nondiscrim9ation rules 
7,a7 ,p>agraphs 7#d7 & 7#e7 ( section   
#dja7;a7 7relat+ to nondiscrim9ation    
requirem5ts74  7,b7 ,sections           
#dja7;a77#aj77;,b7 & #daf 7relat+ to top
 heavy plans74  7,c7 ,section           
#dja7;a77#ag7 7relat+ to comp5sation    
limit74  7,d7 ,sections #dja7;a77#bf7 & 
#daj7;b7 7relat+ to m9imum p>ticipation 
& cov]age requirem5ts74  7,e7 ,p>agraphs
 7#c71 7#h71 7#aa71 & 7#ab7 ( sections  
#dja7k71 & section #digi1 7relat+ to    
actual def]ral p]c5tage74  7,f7 ,section
 #dja7l7 7relat+ to p]mitt$ disp>ity 9  
plan contributions or b5efits74  7,g7   
,section #dja7m7 7relat+ to             
nondiscrim9ation te/ = mat*+            
contributions & employee contributions74
  7,h7 ,p>agraphs 7#a77;,d7 & 7#ab7 (   
section #djc7;b7 7relat+ to             
nondiscrim9ation requirem5ts74  7,i7    
,p>agraph 7#c7 ( section #djh7k7 &      
p>agraph 7#f7 7o!r ?an subp>agraph      
7,a77i77 ( su* section 7relat+ to       
simplifi$ employee p5sions74  7#b7      

,contribution limits  7,a7 ,sections    
#dja7;a77#af71 #djc7;b7 7#b7 & 7#c71 &  
#dae 7relat+ to limitations on b5efits &
 contributions "u qualifi$ plans74  7,b7
 ,sections #dja7;a77#cj7 & #djb7;g7     
7relat+ to limitation on exclusion =    
elective def]rals74  7,c7 ,p>agraphs    
7#c7 & 7#g7 ( section #djd7;a7 7relat+  
to p]c5tage ( comp5sation limits74  7,d7
 ,section #djd7l7 7relat+ to limit on   
includible comp5sation74  7#c7          
,re/rictions on di/ributions  7,a7      
,section #gb7t7 7relat+ to #aj-p]c5t    
additional tax on e>ly di/ributions f   
qualifi$ retirem5t plans74  7,b7        
,sections #dja7;a77#i71 #djc7;b77#aj71 &
 #digd 7relat+ to m9imum di/ribution    
rules74  7,c7 ,section #djb7;e77#d7     
7relat+ to net unrealiz$ appreciation74 
7#d7 ,special requirem5ts = plan        
b5efitt+ self-employ$ individuals       
,subsections 7a77#aj77;,a7 & 7d7 (      
section #dja4  7#e7 ,prohibition (      
tax-exempt organizations & gov]nm5ts f  
hav+ qualifi$ ca% or def]r$ arrangem5ts 

,section #dja7k77#d77;,b74  7b7 ,employ]
 rev]sions ( excess p5sion assets       
p]mitt$ subject only to income inclusion
  7#a7 ,repeal ( tax on employ]         
rev]sions ,section #dihj ( su* ,code is 
h]eby repeal$4  7#b7 ,employ] rev]sions 
p]mitt$ )\t plan t]m9ation ,section #dbj
 ( su* ,code is am5d$ to read z foll[s3 
#dbj4 ,transf]s ( excess p5sion assets  
7a7 ,9 g5]al ,if !re is a qualifi$      
transf] ( any excess p5sion assets ( a  
def9$ b5efit plan 7o!r ?an a            
multiemploy] plan7 to an employ]--  7#a7
 a tru/ :i* is "p ( su* plan %all n be  
treat$ z fail+ to meet ! requirem5ts (  
section #dja7;a7 or any o!r provision ( 
law solely by reason ( su* transf] 7or  
any o!r action au?oriz$ "u ?is section71
 &  7#b7 su* transf] %all n be treat$ z 
a prohibit$ transaction = purposes (    
section #dige4  ,! gross income ( !     
employ] %all include ! am\nt ( any      
qualifi$ transf] made dur+ ! taxable    
ye>4  7b7 ,qualifi$ transf] ,= purposes 
( ?is section--  7#a7 ,9 g5]al ,! t]m   

qualifi$ transf] means a transf]--  7,a7
 ( excess p5sion assets ( a def9$ b5efit
 plan to ! employ]1 &  7,b7 ) respect to
 :i* ! ve/+ requirem5ts ( subsection 7c7
 are met 9 connection ) ! plan4  7#b7   
,only #a transf] p] ye> ,no m ?an #a    
transf] ) respect to any plan dur+ a    
taxable ye> may be treat$ z a qualifi$  
transf] = purposes ( ?is section4  7c7  
,ve/+ requirem5ts ( plans transf]r+     
assets ,! ve/+ requirem5ts ( ?is        
subsection are met if ! plan provides t 
! accru$ p5sion b5efits ( any p>ticipant
 or b5efici>y "u ! plan become          
non=feitable 9 ! same mann] :i* w\ld be 
requir$ if ! plan _h t]m9at$ imm$iately 
be=e ! qualifi$ transf] 7or 9 ! case ( a
 p>ticipant :o sep>at$ dur+ ! #a-ye>    
p]iod end+ on ! date ( ! transf]1       
imm$iately be=e su* sep>ation74  7d7    
,def9ition & special rule ,= purposes ( 
?is section--  7#a7 ,excess p5sion      
assets ,! t]m excess p5sion assets means
 ! excess 7if any7 (--  7,a7 ! am\nt    
det]m9$ "u section                      

#dab7;c77#g77;,a77ii71 ov]  7,b7 !      
great] (--  7i7 ! am\nt det]m9$ "u      
section #dab7;c77#g77;,a77i71 or  7ii7  
#abe p]c5t ( curr5t liability 7z def9$ 9
 section #dab7;c77#g77;,b774  ,!        
det]m9ation "u ?is p>agraph %all be made
 z ( ! mo/ rec5t valuation date ( ! plan
 prec$+ ! qualifi$ transf]4  7#b7       
,coord9ation ) section #dab ,9 ! case ( 
a qualifi$ transf]--  7,a7 any assets   
transf]r$ 9 a plan ye> on or be=e !     
valuation date = su* ye> 7& any income  
allocable !reto7 %all1 = purposes (     
section #dab1 be treat$ z assets 9 !    
plan z ( ! valuation date = su* ye>1 &  
7,b7 ! plan %all be treat$ z hav+ a net 
exp]i5ce loss "u section                
#dab7;b77#b77;,b77iv7 9 an am\nt equal  
to ! am\nt ( su* transf] & = :i*        
amortization *>ges beg9 = ! fir/ plan   
ye> aft] ! plan ye> 9 :i* su* transf]   
occurs1 except t su* section %all be    
appli$ to su* am\nt by sub/itut+ #aj    
plan ye>s = #e plan ye>s4  4  #ajd4     
,repeal ( alt]native m9imum tax ,"p ,,vi

 ( sub*apt] ,a ( *apt] #a ( ! ,int]nal  
,rev5ue ,code ( #aihf is h]eby repeal$4 
#aje4 ,repeal ( cr$its ,"p ,,iv (       
sub*apt] ,a ( *apt] #a ( ! ,int]nal     
,rev5ue ,code ( #aihf is h]eby repeal$4 
#ajf4 ,repeal ( e/ate & gift taxes &    
obsolete income tax provisions  7a7     
,repeal ( e/ate & gift taxes  7#a7 ,9   
g5]al ,subtitle ,b ( ! ,int]nal ,rev5ue 
,code ( #aihf is h]eby repeal$4  7#b7   
,effective date ,! repeal made by       
p>agraph 7#a7 %all apply to ! e/ates (  
dec$5ts dy+1 & gifts & g5]ation-skipp+  
transf]s made1 aft] ,decemb] #ca1 #bjac4
  7b7 ,repeal ( obsolete income tax     
provisions  7#a7 ,9 g5]al ,except z     
provid$ 9 p>agraph 7#b71 *apt] #a ( !   
,int]nal ,rev5ue ,code ( #aihf is h]eby 
repeal$4  7#b7 ,exceptions ,p>agraph    
7#a7 %all n apply to--  7,a7 sections   
#a1 #aa1 & #fc ( su* ,code1 z am5d$ by  
?is ,act1  7,b7 ^? provisions ( *apt] #a
 ( su* ,code :i* are necess>y = det]m9+ 
:e!r or n--  7i7 retirem5t di/ributions 
are includible 9 ! gross income (       

employees1 or  7ii7 an organization is  
exempt f tax "u su* *apt]1 &  7,c7      
sub*apt] ,d ( su* *apt] #a 7relat+ to   
def]r$ comp5sation74  #ajg4 ,effective  
date ,except z o!rwise provid$ 9 ?is    
title1 ! am5dm5ts made by ?is title %all
 apply to taxable ye>s beg9n+ aft]      
,decemb] #ca1 #bjac4  ,,ii ,sup]majority
 requir$ = tax *anges  #bja4            
,sup]majority requir$  7a7 ,9 g5]al ,x  
%all n be 9 ord] 9 ! ,h\se (            
,repres5tatives or ! ,s5ate to consid]  
any bill1 jo9t resolution1 am5dm5t      
!reto1 or conf]5ce report !reon t       
includes any provision t--  7#a7        
increases any ,f$]al income tax rate1   
7#b7 creates any additional ,f$]al      
income tax rate1  7#c7 r$uces ! /&>d    
d$uction1 or  7#d7 provides any         
exclusion1 d$uction1 cr$it1 or o!r      
b5efit :i* results 9 a r$uction 9 ,f$]al
 rev5ues4  7b7 ,waiv] or susp5sion ,?is 
section may be waiv$ or susp5d$ 9 !     
,h\se ( ,repres5tatives or ! ,s5ate only
 by ! affirmative vote ( ?ree-fif?s ( ! 

,memb]s1 duly *os5 & sworn4