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HR 3052 IH
112th CONGRESS
1st Session
H. R. 3052
To amend the Internal Revenue Code of 1986 to repeal the exception to the treatment of consolidated groups under the personal holding company rules.
IN THE HOUSE OF REPRESENTATIVES
September 23, 2011
Mr. LARSEN of Washington (for himself, Mrs. MCMORRIS RODGERS, and Mr. HASTINGS of Washington) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to repeal the exception to the treatment of consolidated groups under the personal holding company rules.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. REPEAL OF EXCEPTION TO TREATMENT AS CONSOLIDATED GROUP UNDER PERSONAL HOLDING COMPANY RULES.
(a) In General- Subsection (b) of section 542 of the Internal Revenue Code of 1986 is amended--
(1) by striking paragraphs (2) and (4), and
(2) by redesignating paragraphs (3) and (5) as paragraphs (2) and (3), respectively.
(b) Conforming Amendments-
(1) Paragraph (1) of section 542(b) of such Code is amended by striking ‘paragraphs (2) and (3)’ and inserting ‘paragraph (2)’.
(2) Clause (ii) of section 1504(c)(2)(B) of such Code is amended by striking ‘section 542(b)(5)’ and inserting ‘section 542(b)(3)’.
(c) Effective Date- The amendments made by this section shall apply to taxable years beginning on or after the date of the enactment of this Act.
U.S. Congress - Text of H.R.3052 as Introduced in House To amend the Internal Revenue Code of 1986 to repeal the exception to the treatment of ...
