,i  #aaeth ,,congress  #ast ,session    
,h4 ,r4 #djde  ,,in ,,the ,,house ,,of  
,,representatives  ,october #ab1        
#bjag,mr4 ,barr 7for himself and ,mr4   
,tiberi7 introduced the following bill2 
which was referred to the ,committee on 
,ways and ,means  ,a ,,bill  ,to amend  
the ,internal ,revenue ,code of #aihf   
for shareholder ownership and passive   
income rules of the personal holding    
company tax provisions4  #a4 ,short     
title ,this ,act may be cited as the    
,removing ,onerous ,obstacles in the    
,tax code for ,mainstreet ,businesses   
,act or as the ,,root for ,mainstreet   
,businesses ,act4  #b4 ,royalties and   
rents derived in the active conduct of a
 trade or business  7a7 ,exception from 
definition of personal holding company  
,paragraph 7c7 of section #edb of the   
,internal ,revenue ,code of #aihf is    
amended by striking and at the end of   
subparagraph 7#g71 by striking the      
period at the end of subparagraph 7#h7  
and inserting 2 and1 and by adding at   

the end the following new paragraph3    
7#i7 a corporation with greater than #ej
 percent stock ownership 7as determined 
in section #edb7;a77 held by nonresident
 alien individuals with no effectively  
connected income under section #hga or  
#hgg4  4  7b7 ,modifications related to 
definition of personal holding company  
income  7#a7 ,paragraph 7#a7 of section 
#edc7;a7 of the ,code is amended by     
striking and at the end of paragraph    
7,d71 by striking the period at the end 
of paragraph 7,e7 and inserting 1 and1  
and by adding at the end the following  
new subparagraph3  7,f7 ,royalties and  
rents derived in the active conduct of a
 trade or business and which are        
received from a person other than a     
related person 7within the meaning of   
section #ied7;d77#c774  4  7#b7         
,paragraph 7#d7 of section #edc7;a7 of  
such ,code is amended by inserting 1    
which do not qualify for the active     
conduct of a trade or business exception
 in subsection 7a77#a77;,f7 after       

,copyright royalties in the matter      
preceding subparagraph 7,a74  7#c7      
,paragraph 7,a7 of section #edc7;a77#e7 
of such ,code is amended by inserting 1 
which do not qualify for the active     
conduct of a trade or business exception
 in subsection 7a77#a77;,f7 after       
,produced film rent4  7#d7 ,paragraph   
7#c7 of section #edc7;b7 of such ,code  
is amended by inserting 7but does not   
include rents derived from the active   
conduct of a trade or business as       
provided in subsection 7a77#a77;,f77    
after means the gross income from rents 
in the matter preceding subparagraph    
7,a74  7c7 ,effective date ,the         
amendments made by this section shall   
apply to taxable years ending on or     
after the date of the enactment of this 
,act4