[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 663 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 663

  To repeal the provision of the Internal Revenue Code of 1986 which 
  provides that the accumulated earnings tax shall be applied without 
        regard to the number of shareholders in the corporation.


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                    IN THE HOUSE OF REPRESENTATIVES

                            January 27, 1993

  Mr. Crane introduced the following bill; which was referred to the 
                      Committee on Ways and Means

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                                 A BILL


 
  To repeal the provision of the Internal Revenue Code of 1986 which 
  provides that the accumulated earnings tax shall be applied without 
        regard to the number of shareholders in the corporation.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, That (a) subsection (c) 
of section 532 of the Internal Revenue Code of 1986 is hereby repealed.
    (b) The repeal made by subsection (a) shall apply to taxable years 
beginning after December 31, 1992.

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