,,ii  #aai? ,,congress  #b;d ,session   
,s4 #dgif  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,june #af1 #bjbf,mr4   
,s*um] 7= himself1 ,mr4 ,wyd51 ,ms4     
,w>r51 ,mr4 ,re$1 ,mr4 ,van ,holl51 ,mr4
 ,m>key1 & ,mr4 ,:iteh\se7 introduc$ !  
foll[+ bill2 :i* 0 read twice & ref]r$  
to ! ,committee on ,f9ance  ,a ,,bill   
,to am5d ! ,int]nal ,rev5ue ,code (     
#aihf to increase ! rate ( ! excise tax 
on ! repur*ase ( corporate /ock1 & = o!r
 purposes4  #a4 ,%ort title ,?is ,act   
may be cit$ z ! ,/ock ,buyback          
,acc\ntability ,act ( #bjbf4  #b4       
,modifications to tax on repur*ase (    
corporate /ock  7a7 ,increase 9 rate (  
tax ,section #deja7;a7 ( ! ,int]nal     
,rev5ue ,code ( #aihf is am5d$ by /rik+ 
#a p]c5t & ins]t+ #d p]c5t4  7b7        
,modification ( adju/m5ts ,section      
#deja7;c77#c7 ( ! ,int]nal ,rev5ue ,code
 ( #aihf is am5d$-- 7#a7 by /rik+ ,!    
am\nt & ins]t+ ! foll[+3  7,a7 ,9 g5]al 
,! am\nt  1 &  7#b7 by add+ at ! end !  
foll[+ new subp>agraph3  7,b7 ,exception

 = /ock issu$ to c]ta9 p]sons           
,subp>agraph 7,a7 %all n apply to s mu* 
( ! fair m>ket value ( any /ock issu$ or
 provid$ to-- 7i7 an employee :o is a   
cov]$ employee 7)9 ! mean+ ( section    
#afb7m77#c77 or a specifi$ cov]$        
employee 7)9 ! mean+ ( section          
#afb7m77#g77;,c771 or  7ii7 a p]son 7o!r
 ?an an employee describ$ 9 clause 7i77 
:o receives remun]ation 7)9 ! mean+ (   
section #afb7m77#d77 dur+ any taxable   
ye> ( ! cov]$ corporation beg9n+ aft]   
,decemb] #ca1 #bjbe1 9 excess (         
#a1jjj1jjj = s]vices p]=m$ by su* p]son 
= su* cov]$ corporation or any specifi$ 
affiliate ( su* cov]$ corporation4  4   
7c7 ,effective date  7#a7 ,rate  7,a7 ,9
 g5]al ,! am5dm5t made by subsection 7a7
 section %all apply to repur*ases 7)9 ! 
mean+ ( section #deja7;c7 ( ! ,int]nal  
,rev5ue ,code ( #aihf7 ( /ock aft] !    
date ( ! enactm5t ( ?is ,act4  7,b7     
,special rule ,= purposes ( apply+      
section #deja7;c77#c7 ( ! ,int]nal      
,rev5ue ,code to any taxable ye> :i*    

includes ! date ( ! enactm5t ( ?is ,act1
 ! am\nt ( ! r$uction det]m9$ "u su*    
section = su* taxable ye> %all be       
appli$-- 7i7 by r$uc+ /ock repur*as$ on 
or be=e su* date ( enactm5t 9 ! am\nt   
:i* be>s ! same ratio to ! total am\nt (
 ! r$uction s det]m9$ = su* taxable ye> 
z-- 7,i7 ! numb] ( days 9 ! taxable ye> 
on or be=e su* date ( enactm5t1 be>s to 
7,,ii7 ! total numb] ( days 9 su*       
taxable ye>1 &  7ii7 by r$uc+ /ock      
repur*as$ aft] su* date ( ! enactm5t by 
! excess 7if any7 ( ! total am\nt ( !   
r$uction s det]m9$ = su* taxable ye> ov]
 ! am\nt ( ! r$uction det]m9$ "u clause 
7i74  7#b7 ,adju/m5ts ,! am5dm5ts made  
by subsection 7b7 %all apply to /ock    
issu$ or provid$ 9 taxable ye>s end+ m  
?an #ij days aft] ! date ( ! enactm5t ( 
?is ,act4