,i  #aad? ,,congress  #a/ ,session  ,h4 
,r4 #ifa  ,,9 ,,! ,,h\se ,,(            
,,repres5tatives  ,febru>y #ab1 #bjae   
,mr4 ,tib]i 7= himself1 ,mr4 ,neal1 ,mr4
 ,k9d1 ,mr4 ,l>son ( ,connecticut1 ,mr4 
,pascrell1 ,mr4 ,?ompson ( ,cali=nia1   
,mr4 ,re$1 ,mr4 ,roskam1 ,mr4 ,"y (     
,indiana1 & ,mr4 ,b\/any7 introduc$ !   
foll[+ bill2 :i* 0 ref]r$ to !          
,committee on ,ways & ,means  ,a ,,bill 
,to am5d ! ,int]nal ,rev5ue ,code (     
#aihf to p]man5tly ext5d ! subp>t ,f    
exemption = active f9anc+ income4  #a4  
,p]man5t subp>t ,f exemption = active   
f9anc+ income  7a7 ,bank+1 f9anc+1 or   
simil> bus9esses ,section #ied7;h7 ( !  
,int]nal ,rev5ue ,code ( #aihf 7relat+  
to special rule = income d]iv$ 9 !      
active conduct ( bank+1 f9anc+1 or      
simil> bus9esses7 is am5d$ by /rik+     
p>agraph 7#i74  7b7 ,insurance bus9esses
 ,section #iec7;e7 ( su* ,code 7relat+  
to exempt insurance income7 is am5d$ by 
/rik+ p>agraph 7#aj7 & by r$esignat+    
p>agraph 7#aa7 z p>agraph 7#aj74  7c7   

,effective date ,! am5dm5ts made by ?is 
section %all apply to taxable ye>s ( a  
=eign corporation beg9n+ aft] ,decemb]  
#ca1 #bjad1 & to taxable ye>s ( ,unit$  
,/ates %>ehold]s ) or )9 :i* su* taxable
 ye>s ( su* =eign corporation end4