,i  #aaeth ,,congress  #b;d ,session    
,h4 ,r4 #ehac  ,,in ,,the ,,house ,,of  
,,representatives  ,may #ae1 #bjah,mr4  
,barr 7for himself1 ,mr4 ,wenstrup1 ,mr4
 ,reichert1 and ,mr4 ,bishop of         
,michigan7 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 from the     
definition of personal holding company  
income certain royalties and rents      
derived in the active conduct of a trade
 or business4  #a4 ,short title ,this   
,act may be cited as the ,removing      
,onerous ,obstacles in the ,tax code for
 ,mainstreet ,businesses ,act of #bjah  
or as the ,,root for ,mainstreet        
,businesses ,act of #bjah4  #b4 ,certain
 royalties and rents derived in the     
active conduct of a trade or business   
not treated as personal holding company 
income  7a7 ,royalties  7#a7 ,in general
 ,section #edc7;a77#a7 of the ,internal 
,revenue ,code of #aihf is amended by   

striking and at the end of subparagraph 
7,d71 by striking the period at the end 
of subparagraph 7,e7 and inserting 1    
and1 and by adding at the end the       
following new subparagraph3  7,f7       
royalties derived in the active conduct 
of a trade or business which are        
received from a person other than a     
related person 7within the meaning of   
section #bfg74  4  7#b7 ,copyright      
royalties ,section #edc7;a77#d7 of such 
,code is amended by inserting or to any 
amount derived in the active conduct of 
a trade or business which are received  
from a person other than a related      
person 7within the meaning of section   
#bfg7 after active business computer    
software royalties in the last sentence 
thereof4  7b7 ,rents  7#a7 ,in general  
,section #edc7;b77#c7 of such ,code is  
amended by striking or at the end of    
subparagraph 7,d71 by striking the      
period at the end of subparagraph 7,e7  
and inserting 1 or1 and by adding at the
 end the following new subparagraph3    

7,f7 amounts derived in the active      
conduct of a trade or business which are
 received from a person other than a    
related person 7within the meaning of   
section #bfg74  4  7#b7 ,produced film  
rents ,section #edc7;a77#e77;,b7 of such
 ,code is amended by adding at the end  
the following3 ,such term shall not     
include any amount derived in the active
 conduct of a trade or business which   
are received from a person other than a 
related person 7within the meaning of   
section #bfg74  7c7 ,regulations        
,section #edc of such ,code is amended  
by adding at the end the following new  
subsection3  7e7 ,determination of      
whether royalties and rents are derived 
in the active conduct of a trade or     
business ,the ,secretary shall prescribe
 regulations or other guidance providing
 for the treatment of rents1 royalties1 
and other amounts described in          
subsections 7a77#a77;,f71 7a77#d71      
7a77#e77;,b71 and 7b77#c77;,f7 as being 
derived in the active conduct of a trade

 or business consistent with the        
regulations and other guidance providing
 for such treatment for purposes of     
section #ied7;c77#b77;,a74  4  7d7      
,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